Gangwon Office of Education Lowers Public Property Rental Rate to 2.5%... Easing Rent Burden for Small Businesses

Easing Rental Burden for Small Business Owners and SMEs

The Gangwon Special Self-Governing Provincial Office of Education announced on December 9 that it will reduce the rental rate for public property from the current level of approximately 5% to 2.5%. This measure is intended to ease the management burden on small business owners and small and medium-sized enterprises (SMEs) using educational property, and to revitalize the local economy.

A view of the Gangwon Provincial Office of Education. Provided by Gangwon Provincial Office of Education

This decision follows the revision of the Enforcement Decree of the Public Property and Commodity Management Act in September, which established a legal basis for supporting small business owners and SMEs during economic downturns.

Previously, rental fee reductions for public property could only be granted through the Public Property Review Committee in cases of disaster damage. However, the recent amendment now allows for the alleviation of rental burdens to help overcome economic recessions as well.

Accordingly, from January 1 to December 31, 2025, the provincial office of education plans to apply a 2.5% usage fee rate to tenants using public property at schools and educational institutions within its jurisdiction, thereby providing substantial relief from rental costs.

In addition, tenants who have already paid rent will be eligible for refunds based on the reduced rate if they apply for reimbursement.

Kim Namhak, Director of Administration, stated, "We hope that this rent reduction measure will provide practical assistance to small business owners and others operating businesses by leasing educational property."

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