Yangju City Extends 'Shared Property Use and Rental Fee Reduction' for Small Business Owners Until December
Detailed Support Measures to Be Finalized in July
[Asia Economy Reporter La Young-cheol] Yangju City in Gyeonggi Province will extend the reduction of shared property usage and lease fees until December to alleviate the economic burden on small business owners facing difficulties such as decreased sales due to the prolonged COVID-19 pandemic.
According to this extension policy, the city plans to finalize detailed support measures through a review by the Shared Property Deliberation Committee in July and send notification letters to eligible recipients in August.
Usage and lease fees already paid will be refunded or the lease period extended, and unbilled usage and lease fees will be reduced and charged accordingly.
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Earlier this year, the city either fully waived (100%) usage and lease fees or extended the lease period for small business owners who could not use shared property in the first half of the year. For those who used the property, a uniform rental rate of 1% was applied, reducing usage and lease fees by 80%, resulting in a total reduction of about 12 million won.
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