Dongdaemun-gu, 50% Reduction in Shared Property Usage Fees for Small Business Owners Affected by COVID-19

Participation in the Good Rent Campaign... 50% Reduction in Public Property Usage Fees for 6 Months for Small Business Owners Facing Financial Difficulties

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) is actively participating in the Good Rent Movement to support small business owners suffering economic damage due to the COVID-19 crisis.

Dongdaemun-gu has decided to reduce the rent of district-owned buildings by 50% for six months.

The rent reduction applies to small business owners among the 51 locations leasing and operating on Dongdaemun-gu public property, and the reduction period is a total of six months from February to July this year.

Most small business owners, including the Korean Medicine Cafe inside the Seoul Korean Medicine Promotion Center, Cafe Libro at Yongdu Cultural Welfare Center, and the Recycling Center, which are currently in use or leased, have been facing operational difficulties due to COVID-19.

If the small business owners submit an application form with damage proof documents to the Property Management Department, they will receive the final rent reduction after review by the Dongdaemun-gu Public Property Deliberation Committee.

This reduction was decided following the passage of the partial amendment to the Enforcement Decree of the Public Property and Goods Management Act at the Cabinet meeting and its promulgation on March 31, 2020.

Yoo Deok-yeol, Mayor of Dongdaemun-gu, said, “More landlords are recently participating in the Good Rent Movement, such as at Gyeongdong Market and Dongseo Market. The district has joined the rent reduction of Dongdaemun-gu public property to support small business owners struggling due to COVID-19. The district will continue to actively support the Good Rent Movement and social distancing to help recover the local economy and overcome the COVID-19 crisis. We hope all residents will join forces.”