Gyeonggi Province Reduces Rent at Pyeongtaek Port Hinterland Complex to Minimize COVID-19 Damage

[Suwon Ilbo = Reporter Park No-hun] Gyeonggi Province announced on the 6th that it will reduce rent by 10% for tenants at the Pyeongtaek Port hinterland complex (Phase 1) following the upgrade in COVID-19 alert level (cautionary → critical).

This rent reduction will apply to all tenants for six months starting from March. Depending on the rent payment method, companies that pay their annual rent in a lump sum will receive a full refund of the reduced amount, while companies that pay quarterly will have the reduction applied from the next quarter for two quarters (six months).

The province notified the Gyeonggi Pyeongtaek Port Authority, which is responsible for rent collection, of this matter on the 5th.

Hong Ji-seon, director of the province's Railroad, Port and Logistics Department, said, "This is a proactive measure to minimize damage to tenants, and we expect a rent support effect of approximately 380 million won," and added, "We will closely monitor whether tenants face any difficulties going forward."

The hinterland complex (Phase 1), constructed in 2011 around Sinyeong-ri, Poseung-myeon, Pyeongtaek with Gyeonggi Province's budget investment, has 15 companies in operation, and Gyeonggi Province operates it after being granted port facility management rights from the Ministry of Oceans and Fisheries.