Good Rent Campaign '#Busan-si Donggodongrak Challenge' Starts... First Participant is Acting Mayor Lee Byung-jin

Igniting the Spread of the Good Rent Movement with a Month-Long Participation of Local Figures

Following are Shin Sang-hae, Chairman of Busan City Council, and Jang In-hwa, Chairman of Busan Chamber of Commerce and Industry

Lee Byung-jin, Acting Mayor of Busan, took the lead as the first participant in the '#Busan City Dong-go-dong-rak Challenge,' a campaign to promote the Good Rent Movement.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] To spread the ‘Good Rent’ movement, Busan City is igniting a ‘Challenge’ campaign.

The first runner in the relay campaign is Lee Byung-jin, the acting mayor currently leading Busan City.

Acting Mayor Lee took the first baton of the ‘#BusanCity Donggodongrak Challenge’ through his personal SNS.

He recommended Shin Sang-hae, chairman of the Busan City Council, and Jang In-hwa, chairman of the Busan Chamber of Commerce and Industry, as the next participants and passed the challenge baton to them.

The #BusanCity Donggodongrak Challenge is a ‘Good Rent Movement’ aimed at reducing the rent burden on small business owners suffering from prolonged COVID-19 economic difficulties.

This movement encourages Busan City, landlords, and tenants to share the pain and overcome the difficult times together.

Over the next month, influential key figures in the local community are expected to participate in this challenge.

Busan City is actively expanding the Good Rent support project, which compensates landlords who reduce commercial rent by an amount equivalent to the property tax (building).

If participating in the Good Rent support project, ▲the full amount of property tax (building) is supported with no upper limit (within the range of rent reduction).

Also, ▲to allow small taxpayers to participate, if the property tax is 500,000 KRW or less, a minimum amount is guaranteed by supporting up to 500,000 KRW within the reduction amount regardless of the taxable amount.

To participate, applications can be submitted online anytime through the websites of the district or county in charge of the commercial area. On-site applications are also accepted for those vulnerable to online access. Applications are accepted until November. Even landlords who reduce rent by a small amount for just one month can participate.

Acting Mayor Lee Byung-jin said, “I thank the landlords who share the pain with small business owners by participating in the Good Rent movement,” and added, “I am confident that COVID-19 will soon be overcome through Donggodongrak.”

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