Korean Governmental Policy in Response to COVID-19
Insight & Recommendation
Government policies to overcome economic uncertainty caused by COVID-19 have put strong focus on stabilizing the financial markets. Occupiers should develop strategies to monitor new policies and overcome the current crisis.
- Tenants of government-owned offices should check for eligibility for rental relief.
- Tenants are advised in all situations to seek more favorable rental terms while demand is suppressed.
- We recommend landlords to develop a strategy for rent cuts, considering that more tenants are facing liquidity challenges.
- Investors need to recognize, be patient, and adjust for potential financing difficulties, and delays in closing ongoing deals.