Daejeon City Extends Rent Reduction Period for Small Business Tenants of Public Property
[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will extend the rent reduction period for small business owners leasing shared property.
The city announced on the 22nd that it will extend the shared property rent reduction policy for six months until the end of this year.
The extended shared property rent reduction (6th phase) will reduce the rent of shared assets by 50% and allow for an extension of the lease period or rent exemption if the leased space cannot be used.
Previously, the city implemented shared property rent reductions five times from February 2020 to last June, through which 1,879 small business owners received rent support benefits worth approximately 8.7 billion KRW.
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Lee Jang-woo, Mayor of Daejeon, stated, “As economic damage to small business owners continues due to the emergence and resurgence of COVID-19 variants, we will prepare various support measures to share the pain with small business owners, the grassroots of the local economy, so that we can overcome these difficult times.”
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