Eunpyeong-gu, Second Reduction of Public Property Rent for Small Business Owners

Published 10 Nov.2020 16:20(KST)

50% Rent Reduction for 11 Months in 2nd Phase of Lease Fee Cut for Formerly Owned Public Property Rental Revenue Facilities... Rent Reduction Applications Open from November 26

Eunpyeong-gu, Second Reduction of Public Property Rent for Small Business Owners

[Asia Economy Reporter Jongil Park] Eunpyeong-gu (Mayor Kim Mi-kyung) plans to implement a second round of rent reductions for public property after deliberation by the Public Property Deliberation Committee to help small business owners facing economic difficulties due to the prolonged COVID-19 pandemic.

Public property rent refers to charges imposed on tenants who have rental contracts for buildings or land owned by Eunpyeong-gu.

Eunpyeong-gu previously reduced rent by 50% for six months from February to July this year for businesses leasing and operating revenue-generating facilities on public property owned by the district.

This reduction is the second phase, reducing rent by 50% for five months from August to December this year. By providing a 50% rent reduction for a total of 11 months in 2020, the district expects a total support effect of 41 million KRW when combined with the first reduction amount.

By submitting a rent reduction application form via email, fax, or in person to the Finance Department of Eunpyeong-gu Office, tenants who have already paid rent can receive a refund for the paid amount, and tenants who have not yet paid will be reissued rent notices excluding the reduced amount and sent by mail.

Additionally, if public facilities are temporarily closed or shut down, tenants can receive rent reductions for the unused period or extend the rental period. For rents not yet due, tenants can request refunds or reductions on the next payment, and offsetting is also possible. For those facing immediate payment difficulties due to economic hardship, the payment deadline can be extended until the end of December this year, allowing tenants to receive benefits according to their various situations.

For more details, inquiries can be made to the Finance Department of Eunpyeong-gu Office, and rent reduction applications will be accepted starting November 26.

Kim Mi-kyung, Mayor of Eunpyeong-gu, stated, “We will continue to do our best to revitalize the local economy and alleviate the difficulties of small business owners who are economically struggling due to the prolonged COVID-19 pandemic.”