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'Good Building Owners' Supporting Stores Without Customers, The Government Helps

2020-02-27T14:18:56.818Z

As coronas are prolonged and small business owners are in crisis, more landlords are willing to voluntarily cut their store rents. The government has put in place a tax cut that cuts half of the rent cut.



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As coronas are prolonged and small business owners are in crisis, more landlords are willing to voluntarily cut their store rents. The government has put in place a tax cut that cuts half of the rent cut.

I'm Lee Sung-hoon.

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Seoul Hongdae Street, which was crowded with young people, was empty.

Lee Young-hoon's biggest concern in keeping customers without customers is rent this month.

[Lee Young Hoon / VR experience shop owner: It's very difficult right now. Especially this week, sales have plummeted. The rent was quite burdensome… .]

When the tenants were ready to sit on the street, poorer landlords offered to lower their rents.

[Lee Chang-Song / Hongdae Building Owners Association: To share the difficulties of merchants, I exempted the rent for one month for all nine floors from our building.]

The government has also supported the spread of this 'good rent' movement.

First, the government decided to share half of the rent that the landlord lowered to small businesses.

[Hong Nam Ki / Deputy Prime Minister: We will reduce 50% of the rent reduction from income tax and corporate tax regardless of the landlord's income or reduction amount.]

In addition, for the property owned by the state, by the end of this year, the rent will be reduced to one-third of the present, and for the property owned by local governments, the rent will be reduced to at least 1%, which is 5% of the current property value.

However, the reduction of income tax and corporate tax for rent reduction requires cooperation with the National Assembly as the law needs to be amended.

(Video Editing: Kim Jong-tae, VJ: Min-gu Jung)

Source: sbskr

News/Politics 2019-09-26T18:05:45.404Z
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