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Busan Metropolitan City Recruits Participants for the “Vacant Store Refill Project with KRW 10,000 Monthly Rent”

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Busan Metropolitan City Mayor Chun Jae-soo announced that applications for the first round of the “Vacant Store Refill Project with KRW 10,000 Monthly Rent,” which aims to turn long-vacant stores into spaces for startups and second-chance businesses and encourage new small business owners to move in, will be accepted from today, September 11, through September 18.

The project is one of the “100-Day Emergency Measures for Livelihoods” and was designed to bring new vitality to struggling commercial districts by putting vacant stores, which have increased amid the economic slowdown and weakened consumer spending, back into use as business spaces.

Busan Metropolitan City will implement the project on a pilot basis at a total of 50 locations using a KRW 500 million donation from BNK Busan Bank.

Selected tenants will pay KRW 10,000 per month in rent, while Busan Metropolitan City will provide up to KRW 1 million per month in rental assistance and up to KRW 4 million for interior improvements. If the actual monthly rent exceeds KRW 1 million, the tenant will be responsible for the excess amount.

For the pilot project, Busan Metropolitan City selected five self-governing commercial districts and traditional markets, including the Busan National University Self-Governing Commercial District, UN Nam-gu Daehak-ro Self-Governing Commercial District, Seodong Miro Market, Dongnae Market, and Bongnae Market, after comprehensively considering factors such as store concentration, vacancy conditions, and the potential impact on commercial district revitalization.

In this first round of recruitment, the project will initially cover 30 vacant stores among those currently available for occupancy. Additional rounds of recruitment will be conducted as more participating stores become available, with the goal of attracting at least 50 new businesses in total.

Eligible applicants include prospective entrepreneurs preparing to start new businesses, small business owners preparing to make a fresh start after closing a previous business, and existing business operators planning to expand their operations.

Those wishing to participate may select their preferred store from among the announced vacant properties, complete an application, and submit it by email to your_kotts@naver.com. Busan Metropolitan City will select the final participants after comprehensively reviewing eligibility and business viability.

Busan Metropolitan City plans to go beyond simply filling vacant stores by selecting tenants who have the potential to establish themselves sustainably in the commercial district and grow together with surrounding businesses.

Those selected this year will receive support for rent and interior improvement costs for four months. Depending on future budget availability, Busan Metropolitan City will also consider extending the support period.

In addition, a dedicated one-on-one manager will be assigned to each selected tenant to provide systematic assistance from preparations for opening through the initial settlement period and help ensure the successful establishment of the business.

Customized support linked to Busan Metropolitan City’s small business support programs will also be provided according to individual business conditions and needs.

Information on participating stores and detailed application requirements is available from today, September 11, on the Busan Economic Promotion Agency website at https://www.bepa.kr. For further information, contact the call center at 0507-1316-3203 or the Busan Economic Promotion Agency at 051-600-1382.

Mayor Chun Jae-soo said, “We expect that bringing new types of businesses and entrepreneurs into previously vacant stores will help improve the image of commercial districts and increase visitor numbers.”

He added, “We will provide active support so that vacant stores can once again be filled as spaces for new businesses and fresh challenges, and so that these changes can lead to renewed vitality throughout local commercial districts, including the recovery of sales at neighboring stores.”