IBK Industrial Bank extends 'Good Landlord Movement' through the second half of the year

[Asia Economy Reporter Jin-ho Kim] IBK Industrial Bank announced on the 15th that it will extend the "Good Landlord Movement," which has been ongoing since last year, until the second half of this year.

Amid the prolonged COVID-19 situation and the escalation of social distancing to level 4, the bank stated that it will reduce the rent of buildings owned by the bank by 50% from July to December to support small business owners and SMEs facing difficulties.

Since March last year, IBK has participated in the Good Landlord Movement and has waived a total of 364 million KRW in rent until June this year. Through this rent reduction extension, it plans to waive an additional 181 million KRW.

An IBK official explained, "As the COVID-19 situation prolongs, we decided to extend the rent reduction to alleviate the difficulties of tenants who have to pay fixed rent and to overcome this together."

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