Seoul City Extends Rent Payment Deferral for COVID-19 Affected Underground Shopping Centers Until August

6-Month Management Fee Reduction
395,000 KRW Per Store

An underground shopping mall in Seoul. Not directly related to the article content. Asia Economy DB

[Asia Economy Reporter Hyunju Lee] The Seoul Metropolitan Government announced on the 22nd that it will defer rent payments and reduce management fees until August for small business owners in underground shopping centers who are experiencing business difficulties due to the novel coronavirus infection (COVID-19).

The 11 targeted shopping centers include Gangnam Terminal, Yeongdeungpo Rotary, Junggak, Euljiro, Sogong, Hoehyeon, Dongdaemun, and Jamsil Station, with a total of 1,761 stores.

Management fees such as security and cleaning labor costs are temporarily reduced, resulting in a reduction of 395,000 KRW per store.

The city is conducting thorough disinfection and sterilization of the underground shopping centers and is also carrying out weekly nighttime disinfection once a week.