Haenam-gun, Lotte Rental Co., Ltd. Vehicle Registration Business Agreement

Expectations for Increased Local Tax Revenue from New Vehicle Registrations

Haenam-gun signed a vehicle rental registration business agreement with Lotte Rental Co., Ltd. and Seonamhaean Enterprise City Development Co., Ltd. on the 29th. (Photo by Haenam-gun)

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Haenam County, Jeollanam-do (County Governor Myung Hyun-kwan) announced on the 29th that it signed a vehicle rental registration business agreement with Lotte Rental Co., Ltd. and Seonamhaean Enterprise City Development Co., Ltd. at the county office situation room.

At the signing ceremony, Haenam County Governor Myung Hyun-kwan, Lotte Rental Management Headquarters Director Lee Seung-yeon, and Seonamhaean Enterprise City Development Co., Ltd. Vice President Jeong Geon-gi attended and agreed to establish a cooperative system for rental vehicle registration and to mutually support each other.

Through the agreement, Lotte Rental plans to register 20,000 to 30,000 new long-term rental vehicles annually in Haenam County, and Seonamhaean Enterprise City Development Co., Ltd. will provide 50,000 pyeong of reserved land within the enterprise city as a parking lot site to Lotte Rental Co., Ltd. at a low cost. The county will actively support administrative tasks such as vehicle registration and license plate issuance.

With this agreement, Haenam County expects to receive more than 6 to 10 billion KRW in local tax revenue annually.

Governor Myung Hyun-kwan said, "In difficult local government budget conditions, attracting Lotte Rental is expected to significantly increase local tax revenue," and added, "It will be an important foundation for revitalizing the local economy."

Haenam County, which has strengthened investment attraction as a major pledge of the 7th local government, secured 33 billion KRW in national funds after being designated as a special industrial crisis response area from 2018 to 2019, and actively promoted related projects such as holding the first-ever Homecoming Day (investment attraction briefing session) at the county level last year.

Accordingly, the first district of the Ttangkkeut Haenam Food Specialization Complex has been 100% sold out, and a new second district is being developed. The county has also achieved results in attracting investment by bringing the relocated Jeonnam Fruit Tree Research Institute to Haenam.