Suwon City Offers 50% Discount on Public Property Rent... 193 Stores Benefit

Suwon City Hall

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province is joining the 'Good Landlord Movement' to support small business owners and self-employed individuals struggling due to the 'Novel Coronavirus Infection' (COVID-19) crisis.

To this end, Suwon City has decided to reduce the rent of its own publicly owned properties by 50% until the end of July.

With this measure, a total of 193 stores using Suwon City's public properties, including Suwon Station Underground Shopping Center, Suwon Convention Center, Sports Complex, various libraries, and stores within district offices, will benefit from a rent reduction totaling 986 million KRW.

The city plans to refund the rent reduction amount to small business owners and self-employed individuals who have prepaid one year's rent and apply within this month.

Additionally, if business premises have been closed or suspended due to the COVID-19 situation, the rental period will be extended by the corresponding duration.

Kim Kyung-tae, Director of the City's Economic Policy Bureau, stated, "We hope that small business owners and self-employed individuals affected by COVID-19 can overcome economic difficulties through the reduction of public property rents."