Busan Extends 50% Rent Discount for Small Businesses to Year‑End

Busan City announced an extension of its rent‑discount program for small businesses and proprietors of shared public property. The measure reduces lease fees by up to 50%, with a ceiling of 20 million KRW per tenant, and will remain in effect through the end of the year.

The program targets roughly 2,800 eligible tenants identified under the Small‑Enterprise Basic Act and the Small‑Business Basic Act, potentially delivering up to 70 billion KRW in financial relief. To qualify, tenants must directly use the shared property for their business activities and cannot belong to excluded categories such as certain entertainment venues or those subject to a minimum 1 % rate. Applications must be submitted by 30 November, with supporting documentation, and refunds or reduced payments will be processed by December.