Gwangju Bank Joins 'Good Landlord Movement' to Overcome COVID-19 Crisis

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 5th that it will join the ‘Good Landlord Movement’ to reduce real estate rent in order to share the difficulties of small business owners whose sales have plummeted due to the spread of ‘COVID-19’.

There are 27 businesses located in the real estate owned by Gwangju Bank and its branches, and the rent for small business tenants will be reduced by 30% for six months starting this month.

Song Jong-wook, president of Gwangju Bank, said, “We decided to join the ‘Good Landlord Movement’ to share the difficulties faced by local residents due to ‘COVID-19.’ We hope the wave of the ‘Good Landlord Movement’ for the coexistence of our local commercial districts spreads widely. Going forward, Gwangju Bank will do its best to fulfill its corporate social responsibility by providing various financial supports to revitalize the local economy as the representative bank of Gwangju and Jeonnam.”

Meanwhile, to prevent the spread of ‘COVID-19’ damage, Gwangju Bank has promptly provided masks and hand sanitizers for customers at all branches to promote the health of customers and local residents.

To support small and medium-sized enterprises and small business owners affected by ‘COVID-19’ in the Gwangju and Jeonnam regions, Gwangju Bank has made a special contribution of 1 billion KRW each to the Gwangju Credit Guarantee Foundation and the Jeonnam Credit Guarantee Foundation for financial support, and plans to make early contributions to the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation in the future.