Dogong, Toll Road Rest Area Rent Deferral for Q1

[Asia Economy Reporter Yoo In-ho] Korea Expressway Corporation announced on the 15th that it will defer the payment of rent for the first quarter of this year to support highway rest area operators who are struggling due to the prolonged COVID-19 pandemic.

The support targets 200 rest areas managed by the Corporation. The amount of rent payment deferral for the first quarter at these rest areas is estimated to be about 30 billion KRW.

The deferral period will be determined later by comprehensively considering the scale of sales decline damage, social distancing levels, and the opinions of rest area operators.

Additionally, the Corporation will provide 3 million KRW per rest area, totaling 600 million KRW, to cover quarantine costs for infection prevention.

Furthermore, the Highway Rest Area Facilities Association has also decided to partially defer the payment of commissions for supply stores operated by small business owners at rest areas.

Previously, since February last year, as the number of users sharply decreased and sales at rest area facilities declined, the Corporation has implemented support measures such as refunding rental deposits, deferring payments, and reducing commissions for supply stores.

A Korea Expressway Corporation official stated, "Despite difficult conditions, the Corporation and rest area operators are doing their best to ensure the safety of users through quarantine efforts," and added, "We kindly ask visitors to rest areas to strictly follow quarantine rules such as wearing masks and maintaining social distancing."