Suncheon-si Signs 'Win-Win Agreement' for Sustainable Urban Regeneration in Jangcheon-dong
Contributing to Commercial Area Revitalization by Reducing Rent by 20% and Freezing Increase Rate Within 5%
[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do (Mayor Heo Seok) has entered into a win-win agreement to prevent gentrification, a side effect of urban regeneration, in advance and to revitalize the local economy.
The city announced on the 3rd that it signed a win-win agreement yesterday in the mayor's office with building owners and tenants within the Jangcheon-dong urban regeneration activation project area.
This win-win agreement, involving a total of 24 building owners, will reduce the rent by 20% and freeze the increase rate within 5% for self-employed tenants who currently rent or plan to rent buildings in the Jangcheon-dong area of Suncheon, thereby easing the management burden on tenants and contributing to the revitalization of the commercial district.
The president of the Jangcheon-dong Merchants Association, who signed the agreement as the representative of the landlords, said, "I stood here to share even a little of the difficulties of tenants during these challenging times," and added, "I hope this win-win agreement will help revitalize the commercial district of Jangcheon-dong in Suncheon."
In response, the tenant representative said, "I am very grateful for this win-win agreement that considers tenants during the difficult COVID-19 period, and I will devote myself to business activities so that citizens visit Jangcheon-dong more often."
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Mayor Heo Seok of Suncheon said, "Our city is rapidly implementing Suncheon-type policies such as the Season 6 of the Quarantine Movement, emergency fund support for travel agencies, small business loan interest and emergency living stabilization fund support to overcome COVID-19," and expressed hope that this win-win agreement "will become a model case for sustainable urban development."
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