Guro-gu Supports 'Good Landlords' Helping Small Business Owners with Up to 1 Million Won Aid

Rent Reduction Amount-Based Seoul Sarang Gift Certificate Distribution... Real Estate App Promotion and Tax Credit Benefits Also Provided... For Store Owners with Converted Deposit of 900 Million KRW or Less in Commercial Buildings... Apply by the 31st

[Asia Economy Reporter Jongil Park] Guro-gu (Mayor Lee Seong) is implementing the ‘Seoul-type Good Landlord’ support project to assist small business owners and tenants facing economic difficulties due to the prolonged COVID-19 pandemic.

On the 19th, Guro-gu announced, “We are promoting the ‘Seoul-type Good Landlord’ support project to encourage a win-win atmosphere between tenants and landlords and to revitalize commercial districts.”

The ‘Good Landlord Project’ is a system that provides landlords who voluntarily reduce store rent with up to 1 million KRW in Seoul Love Gift Certificates (mobile).

Support amounts are provided according to the reduction amount: 300,000 KRW (for reductions between 1 million KRW and less than 5 million KRW), 500,000 KRW (for reductions between 5 million KRW and less than 10 million KRW), and 1 million KRW (for reductions of 10 million KRW or more).

Additionally, good landlords receive benefits such as commercial promotion through a ‘real estate app’ and tax deductions.

The support targets landlords of stores with a converted deposit (monthly rent × 100 + deposit) of 900 million KRW or less, as defined by the Commercial Building Lease Protection Act, who have reduced rent since January of this year or plan to reduce rent by December.

Landlords wishing to participate in the project can apply by visiting the Guro-gu Regional Economy Division or sending a registered mail by the 31st. Required documents include the application form, coexistence agreement, a copy of the lease contract, and a copy of the tenant’s business registration certificate.

For more details, please refer to the Guro-gu Office website.

Last year, Guro-gu also promoted the ‘Seoul-type Landlord Support Project,’ providing building maintenance for landlords, free electrical safety inspections, and quarantine supplies, supporting a total of 219 people (24 landlords and 195 tenants) with 113.48 million KRW.

A Guro-gu official stated, “We hope this support project will help small business owners struggling due to COVID-19,” and added, “We will take the lead in revitalizing the sustainable local economy by preparing multifaceted support policies.”

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