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

40% Reduction for Provincial Property, 50% for City-Owned Property

Yongin City in Gyeonggi Province announced on November 13 that it will reduce rental fees for public property, such as roads, to support small business owners and small and medium-sized enterprises (SMEs) facing difficulties such as declining sales due to the economic downturn.

The beneficiaries are small business owners and SMEs who lease and use public property managed by the city in accordance with the Public Property Act. Rental fees imposed on roads, parks, rivers, etc., under laws other than the Public Property Act are excluded from this support.

Rental fees for property owned by Gyeonggi Province will be reduced by 40%, while fees for city-owned property will be reduced by 50%. The reduction applies to rental fees for usage in this year. Rental fees already paid this year are also eligible for a refund.

The city will accept applications until the end of this month and plans to notify eligible recipients within this month.

Lee Sangil, Mayor of Yongin, stated, "This rental fee reduction is a measure to help ease the burden on local small business owners and SMEs, even if only a little," and added, "We will continue to seek support measures that can empower small business owners and SMEs."

This content was produced with the assistance of AI translation services.