Yongin City to Reduce Rent by Up to 80% for Public Property Tenants... Until December

Yongin City Hall

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province will reduce rent by up to 80% until the end of this year for tenants of city-owned properties, including small business owners and self-employed individuals in the area.

Yongin City announced on the 13th that it has provided rent reductions to tenants of public properties three times from February last year to June this year to ease the economic burden on small business owners and self-employed individuals struggling due to the prolonged COVID-19 pandemic, and has decided to extend this support for another six months until the end of this year. The city offers rent reductions of up to 80% for small business owners.

The reduction targets are tenants of public properties excluding simple cultivation and residential use, such as stores or restaurants located in the city’s public facilities.

If facilities are closed and business operations are suspended due to quarantine measures such as social distancing, the rental period will be extended or the rent will be fully waived.

Those who wish to receive rent reductions should submit an application to the department managing the leased public property.

Baek Gun-gi, mayor of Yongin City, said, "We made this decision to alleviate the economic burden on small business owners and self-employed individuals caused by the prolonged COVID-19 pandemic, even if only a little," and added, "We will continue to prepare various support measures to provide practical help to them."

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