Seoul Gangseo-gu 'Seoul-style Good Landlord Support...Up to 1 Million Won Gift Certificate Provided'

Up to 1 Million Won Seoul Sarang Gift Certificate for Commercial Landlords Reducing Rent... Applications Accepted Until March 31

[Asia Economy Reporter Jongil Park] Gangseo-gu, Seoul (Mayor Noh Hyun-song) is implementing the 'Good Landlord Support Project' to help spread a culture of coexistence between landlords and tenants.

The district will provide Seoul Love Gift Certificates (mobile) worth up to 1 million KRW to landlords who voluntarily reduce rent.

This initiative aims to assist small business owners and self-employed individuals who are suffering from the dual burdens of decreased sales and rent costs due to the prolonged COVID-19 pandemic.

The support targets landlords who reduce rent for stores with a converted deposit of 900 million KRW or less in commercial buildings. However, buildings classified as illegal structures in the building register are excluded from support.

The amount of Seoul Love Gift Certificates provided varies according to the total annual rent reduction amount. For reductions between 1 million KRW and less than 5 million KRW, 300,000 KRW is given; for reductions between 5 million KRW and less than 10 million KRW, 500,000 KRW is given; and for reductions of 10 million KRW or more, 1 million KRW is provided.

The application period is until March 31, and applications along with related documents can be submitted in person or by mail. Application forms can be downloaded from the Gangseo-gu Office website under 'News Plaza - Notices/Announcements.'

Mayor Noh Hyun-song said, “I hope the Good Landlord Movement becomes a solution for coexistence and a bridge of hope connecting hearts,” adding, “We thank landlords who continue their efforts for coexistence, and the district will do its best to overcome the COVID-19 crisis and restore the local economy.”

This content was produced with the assistance of AI translation services.