Taebaek City Temporarily Reduces Public Property Rental Fees for SMEs and Small Business Owners

Practical Measures to Ease Business Burdens
Aimed at Overcoming the Economic Downturn

Taebaek City in Gangwon Province (Mayor Lee Sangho) announced on October 14 that it will temporarily reduce rental fees (usage and lease fees) for public property to support local small and medium-sized enterprises (SMEs) and small business owners who are struggling with management difficulties due to the economic downturn.

Taebaek City Hall exterior. Provided by Taebaek City

This reduction will be implemented based on the "Enforcement Decree of the Public Property and Goods Management Act" and the "Notice on the Application Period for Easing the Burden of Using Public Property for Small Business Owners, etc." For rental fees from January to December 2025, the existing rental rate of 5% will be lowered to 1%.

The support is available to SMEs and small business owners who directly use public property owned by Taebaek City. However, businesses such as bars, casino operations, and other gambling facility management are excluded from the reduction.

Applicants can submit an application form and supporting documents, such as a certificate verifying their status as a small business owner (or SME), to the department managing the relevant property to have their eligibility for the reduction reviewed. Inquiries can also be directed to each property management department.

Taebaek City also plans to retroactively refund the reduced amount to tenants who have already paid their rental fees. The city expects that this measure will ease the burden on small business owners and SMEs and provide practical support for the recovery of the local economy.

A Taebaek City official stated, "We hope this measure will provide some relief to the struggling local economy," adding, "We will continue to promote various support policies to ensure business stability and job retention."

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