Commission for Rest Area Tenant Stores Reduced by 30%... Half of the Lease Deposit Refunded

On the 27th of last month, at the food court of Siheung Sky Rest Area on the Seoul Ring Expressway in Siheung-si, Gyeonggi-do, chairs were placed only on one side of the tables to enforce social distancing measures to prevent the spread of COVID-19.
(Photo by Yonhap News)

[Asia Economy Reporter Moon Jiwon] The commission fees for stores located in rest areas, which have been struggling due to the spread of the novel coronavirus infection (COVID-19), will be reduced by 30%.

On the 3rd, according to Korea Expressway Corporation, the Highway Rest Area Facilities Association held an emergency board meeting the day before and resolved to reduce the commission fees of stores by 30% through a win-win council with each rest area operator until the COVID-19 crisis alert level is lowered to the caution stage.

Additionally, the corporation will support rest area operators by halving the rental deposit and refunding 195 billion KRW.

As the COVID-19 situation prolongs, sales at highway rest areas have decreased by 40-50% compared to the same period last year, severely worsening the business conditions of rest area operators.

The corporation plans to refund rental deposits upon application from operators, prioritizing regions such as Daegu and Gyeongbuk where sales have sharply declined.

Meanwhile, the corporation has deferred rent payments for rest areas from February to July for six months and provided a total of 300 million KRW to highway rest areas and gas stations for purchasing masks and hand sanitizers.

A Korea Expressway Corporation official stated, "It is expected that the reduction in commission fees and the refund of rental deposits will improve the operating conditions of stores in rest areas and their operators."