29,000 Seoul Public Rental Tenants to Receive 100,000 Won Gift Certificates

"Overcoming COVID-19 Together" SH Corporation Provides Gift Certificates and 50% Rent Reduction

[Asia Economy Reporter Yuri Kim] Among the tenants of public rental housing in Seoul, 29,000 households receiving livelihood, medical, and housing benefits will be given gift certificates within the range of 100,000 KRW. Additionally, 1,000 small business owners operating stores leased from Seoul Housing & Communities Corporation (SH Corporation) will receive a 50% discount on six months' rent.

SH Corporation announced on the 1st support measures for low-income public housing tenants and small business owners leasing stores who are suffering due to the COVID-19 pandemic. These support measures were prepared to provide rapid economic assistance to affected groups whose livelihoods have become difficult due to the spread of COVID-19, to stimulate suppressed consumption, and to revitalize the local economy.

Among the 210,000 public housing tenants managed by SH Corporation, 29,000 households receiving livelihood·medical·housing benefits will be sequentially given gift certificates within the range of 100,000 KRW starting this month. This is the first time a public enterprise has provided such support. The scale of the gift certificate support is about 2.9 billion KRW.

Out of approximately 3,000 stores leased by SH Corporation, about 1,000 operated by small business owners will receive a discount of 1 billion KRW, equivalent to 50% of six months' rent. SH Corporation stated, "Since the period of February to March, when COVID-19 damage was severe, has already passed, we will apply the discount retroactively by fully waiving rent for April and May and reducing rent by 50% for June and July."

Kim Seyong, President of SH Corporation, said, "Although everyone is going through a difficult time due to COVID-19, we have prepared selective support measures for neighbors who are experiencing the hardest times," and added, "We will do our best to overcome this difficult period together."