Yongin City "Easing User Burden on Public Property to Support Businesses"

Amendment to Ordinance on Management of Public Property and Goods
Expansion of Facilities Subject to Private Contract Sale

Yongin City in Gyeonggi Province is easing the burden of shared property usage fees to support the economic activities of businesses.

On the 7th, Yongin City announced that it has amended the "Ordinance on the Management of Shared Property and Goods" to systematically manage shared property and goods and to reflect amendments to higher-level laws.

The key points of this ordinance amendment include ▲ separating and operating the ordinances for shared property management and goods management to improve management efficiency ▲ reflecting amendments to higher-level laws to ease the burden on shared property users (lessees) ▲ expanding the scope of facilities that can be sold through private contracts.

The amended ordinance first separated the existing "Ordinance on the Management of Shared Property and Goods" into the "Ordinance on Shared Property Management" and the "Ordinance on Goods Management." This was done to enhance expertise and secure clarity in management and operation by meeting the necessary legal grounds and requirements for each ordinance. Along with this, amendments to higher-level laws were reflected, and the Ministry of SMEs and Startups' "Regulatory Innovation for Small and Medium Enterprises and Small Business Owners" was applied to ease the economic burden on shared property users.

Accordingly, the lease rate for shared property for social economy enterprises is eased from 50 per 1,000 of the assessed property price to 10 per 1,000 or more. If the usage fee increases by 5% or more compared to the previous year's annual usage fee, the amount exceeding the 5% increase will be fully exempted. The installment payment threshold for shared property usage fees is lowered from 1 million KRW to 500,000 KRW, and the number of installment payments per year is increased from 6 to 12. For installment payments of compensation fees, if the amount exceeds 500,000 KRW, it is eased to allow payment in up to two installments over six months.

The amended ordinance also expanded the scope of general property that can be sold through private contracts to include ▲ mid-sized enterprises and prospective mid-sized enterprises ▲ corporate research institutes, in order to strengthen regional industrial competitiveness and expand business attraction.

A city official stated, "We promptly amended the ordinance to timely reflect amendments to higher-level laws for the development of the regional industry," and added, "We expect that this ordinance amendment will ease the economic burden on shared property users and activate the attraction of mid-sized enterprises and research facilities."