Let's Endure Together... Changwon City Extends Shared Property Rent Reduction Until the End of June

50% Discount or Facility Usage Period Extension

850 Million Won Benefits for Small Business Owners and Self-Employed

Changwon City Hall, Gyeongnam.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Changwon City in Gyeongnam Province will extend the rent reduction for small business owners leasing shared assets owned by the city until the end of June.

To share the pain of small business owners struggling due to the prolonged COVID-19 pandemic, the extension of the rent reduction was decided through the Shared Property Deliberation Committee on the 15th.

From January 1, 2020, to December 21, 2021, the city provided a 50% rent reduction on public facilities and market shops owned by the city and operated by small business owners, granting benefits worth 3.74 billion KRW.

With the extension period, it is expected that 850 million KRW in rent reduction benefits will be given to tenants of shared properties who have difficulty paying rent.

The rent reduction applies to small business owners and self-employed individuals using shared properties, excluding those for cultivation and residential purposes.

If they operated their business, they receive a 50% rent reduction, and if they could not operate due to facility closure, they can either extend the usage period for the duration of the closure or be exempted from rent.

Mayor Heo Seong-moo said, “We have decided to promptly proceed with the rent reduction extension to support small business owners suffering from COVID-19,” adding, “We will continue to do our best to prepare support measures that share the difficulties of small business owners.”

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