NH Nonghyup Bank Waives Full Rent in Daegu and Gyeongbuk Areas... Joins 'Good Landlord Movement'

[Asia Economy Reporter Kwon Haeyoung] NH Nonghyup Bank announced on the 4th that it will join the 'Good Landlord Movement,' which involves reducing real estate rents to share the pain of small and medium-sized enterprises and small business owners affected by the novel coronavirus infection (COVID-19).

For real estate owned and leased by NH Nonghyup Bank, starting from April 1, the bank will fully exempt rent for three months for small and medium-sized enterprises and small business owners severely affected in the Daegu and Gyeongbuk regions, and for other regions, it will reduce rent by 30% for three months with a monthly cap of 1 million KRW.

Since the 27th of last month, NH Nonghyup Bank has been providing emergency financial support worth 600 billion KRW to small and medium-sized enterprises and small business owners affected by COVID-19. The bank is also making company-wide efforts to provide practical assistance to customers affected by COVID-19, such as fully exempting fees for using automated teller machines (CDs and ATMs) in the Daegu and Gyeongbuk regions for a certain period.