Seoul Arts Center, One-Year Postponement of This Year's Venue Rental Fee Increase Applied
Deposit Reduced from 30% to 10% of Basic Venue Rental Fee
[Asia Economy Reporter Choi Dong-hyun] The Seoul Arts Center announced on the 5th that it will postpone the application of this year's 5% increase in venue rental fees for one year to support the performing arts sector struggling due to COVID-19.
With this policy, the basic rental fee increase of 5% for the seven performance halls at the Opera House and Music Hall scheduled for this year will not be charged.
The Seoul Arts Center also significantly reduced the deposit charged to renters from 30% to 10% of the basic rental fee. This is the lowest level compared to major performance venues and is expected to have a significant impact on establishing a fair contract culture in the performing arts sector.
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Yoo In-taek, president of the Seoul Arts Center, said, "Although the financial situation of the Seoul Arts Center is not easy due to the impact of COVID-19, we made a difficult decision to participate in the recovery efforts of the performing arts sector," adding, "We are also exploring various ways to increase opportunities to use the venues and return the stage to more artists."
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