Jeonju City to Reduce Public Property Rental Fees for Small Businesses and SMEs

Rental Fee Support Provided Until the End of December

Jeonju City in North Jeolla Province will reduce the rental fees for public properties for local small business owners and small and medium-sized enterprises (SMEs).

According to the city on October 16, this initiative has been prepared to support local small business owners and SMEs who are struggling due to the prolonged economic downturn and sluggish domestic demand.

Jeonju City Hall exterior. Provided by Jeonju City

This measure follows the amendment of the Enforcement Decree of the Public Property and Goods Management Act last month. The city plans to lower the rental fee rate for public properties from the existing 5% to 1% after review by the Public Property Deliberation Committee.

The beneficiaries of this reduction are small business owners and SMEs currently operating by leasing public properties owned by Jeonju City. The support period for the rental fee reduction is from January to the end of December this year.

The city also plans to provide refunds or reductions, after an application process, not only to current users of public properties but also to those whose use has ended or is scheduled to begin.

Additionally, to ease the burden on small business owners and SMEs, the city will allow a deferral of rental payments due during the specified period for up to one year. In cases where rental fees are overdue, 50% of the late fees will be reduced as support.

Small business owners and SMEs wishing to receive the reduction can submit an application, along with a certificate verifying their status as a small business or SME, to the department responsible for executing the lease agreement or granting usage permission.

A city official stated, "We have decided to implement this reduction in public property rental fees to provide some relief for local small business owners amid the ongoing economic downturn," adding, "We will continue to pursue various support policies to help restore the local economy and stabilize the livelihoods of ordinary citizens."