The Rain-Kim Tae Hee couple has decided to mark down rent for each of their Gangnam buildings by 50% for the month of March, in light of various businesses suffering from the spread of the Coronavirus.
Named the 'Helpful Leaseholder Movement', many building owners are currently participating in this movement to aid business owners in response to the expected deficits this coming month. According to reports on March 4, tenants leasing parts of Kim Tae Hee's building located in Gangnam's Yeoksam-dong were recently notified of the rent markdown for this month. Likewise, tenants leasing sections of Rain's building located in Gangnam's Chungdam-dong will also be notified of the rent markdown.
Additional reports shared that TV personality Seo Jang Hoon also participated in this 'Helpful Leaseholder Movement' by marking down the rent for his tenants for this month.
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This is a good idea. For some businesses it might make the difference between staying in business and having to close permanently.