Busan City Hall [Busan city government]
Busan City Hall [Busan city government]

Busan city said Thursday it will extend a rent-relief measure for small businesses and small and medium-sized enterprises struggling under a prolonged economic downturn, cutting lease fees on city-owned public properties by up to 50 percent of the standard rate, capped at 20 million won ($13,600) per case.

The extension follows a revision to a Ministry of Interior and Safety notice on easing public-property use fees for small businesses. The city confirmed the extension through a vote of its public property deliberation committee, keeping the discount in place through the end of this year.

Eligible tenants are small and medium-sized enterprises and small businesses as defined under the Framework Act on Small and Medium Enterprises and the Framework Act on Small Businesses, covering roughly 2,800 lease agreements on city-owned properties. The city expects the measure to deliver up to 7 billion won in total relief.

However, tenants must use the property directly for their registered business activity to qualify. Excluded are businesses in categories barred under Article 5, Paragraph 1 of the Small and Medium Business Establishment Support Act — including general entertainment bars — as well as tenants already subject to the minimum rate of 1 percent under Article 19, Paragraph 6 of the city's public property and goods management ordinance.

Unauthorized occupants paying penalty fees are also excluded, though those who settle outstanding penalty fees and sign a lease agreement before year-end will be eligible for the discount for the duration of their contract.

The discount applies to rent due this year as well as any unpaid 2025 amounts for which applications were not previously submitted. Tenants who have already paid will receive a refund for the discounted portion, while new contracts will be issued at the reduced rate from the outset.

Applications will be accepted through Nov. 30 at each leasing department after individual notification. Applicants must submit a request form along with a certificate of small-business or SME status; refunds and fee adjustments are to be processed by December.


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