Hwaseong City Temporarily Reduces Public Asset Usage Fees by 50% for Small Businesses and SMEs

33 Cases, 58 Million Won in Benefits

On September 23, the city of Hwaseong in Gyeonggi Province announced that it will reduce by 50% the annual usage and lease fees for city-owned public assets this year to support small and medium-sized enterprises (SMEs) and small business owners struggling due to the economic downturn.

This measure aims to ease the fixed cost burden on small business owners and SMEs facing management difficulties as a result of the economic recession.

The beneficiaries of the reduction are small business owners and SMEs who have entered into lease agreements or obtained usage permits for city-owned public assets for purposes such as commercial properties and are directly using them. The city estimates that the reduction will apply to 33 cases, amounting to approximately 58 million won.

This reduction is a follow-up measure to the amendment of the Ministry of the Interior and Safety’s “Enforcement Decree of the Public Property and Commodity Management Act” and the implementation of the “Notice on Easing the Burden of Using Public Assets for Small Business Owners,” both of which took effect on September 2. To implement this, the city held a Public Asset Deliberation Committee meeting on September 22 and confirmed the reduction rate at 50%.

Small business owners and SMEs wishing to benefit from the reduction can submit a certificate of small business status and other required documents to the department handling lease agreements or usage permits starting next month.

Jung Myunggeun, Mayor of Hwaseong, said, “I hope this reduction will help ease the fixed cost burden for small business owners and serve as a catalyst for the recovery of local commercial districts. We will continue to pursue policies to respond to economic challenges and revitalize the local economy.”

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