Yangyang County to Support Small Businesses and SMEs... Temporary Reduction of Public Property Rental Fees from 5% to 1%

Yangyang County Aims to Ease Business Burden Amid Economic Downturn
1% Rental Fee Rate Applied from January to December 2025

Yangyang County in Gangwon Province announced on October 20 that it will temporarily reduce rental fees (usage fees and lease fees) for public properties in order to support local small business owners and small and medium-sized enterprises (SMEs) facing management difficulties due to the economic downturn.

Exterior view of Yangyang County Office. Provided by Yangyang County

This measure is being implemented based on the amendment to the "Enforcement Decree of the Public Property and Commodity Management Act" of the Ministry of the Interior and Safety, which took effect on September 2, as well as the public notice easing the burden of public property usage for small business owners and others.

From January to December 2025, the rental fee (usage fee and lease fee) rate will be reduced from the existing 5% to 1%. For tenants who have already paid the rental fee for this period, the reduction will be applied retroactively and the difference will be refunded.

Additionally, if the rental fee is overdue during this period, only 50% of the overdue fee will be applied. If the payment deadline arrives, payment deferral of up to one year will be possible.

The beneficiaries of this reduction are small business owners and SMEs who are directly using or leasing public properties owned by Yangyang County for their business. However, those subject to usage fees under other laws, such as roads, parks, and rivers, are excluded. In addition, general entertainment bars, dance entertainment bars, and other gambling-related businesses are also excluded from the reduction.

Tenants wishing to apply for the reduction must submit relevant supporting documents, such as a certificate verifying their status as a small business owner (or SME) and an application form, to the department in charge of lease contracts and usage permits. For more details, inquiries can be made to the respective property management departments.

An official from Yangyang County stated, "We hope this measure will provide some support to small business owners enduring these difficult times," adding, "We will continue to implement various support policies to reduce the burden on small businesses and help revitalize the local economy."

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