Rising Rents Could Threaten Jeonpo Cafe Street’s Future

Possible rent increases of 25% to cafes at the popular Jeonpo Cafe Street may threaten the livelihood of many businesses in the district.

According to reports in local Korean media, Busanjin-gu Office and Jeonpo Cafe street traders said that there was a notice on July 9th that from January 1 of next year, 14 shops in Jeonpo cafe street would raise rents between 300,000 to 400,000 won a month.

Businesses in the area are filing a protest against the rent increase and petitioning the building owners. They are also preparing lawsuits based on the amended Leaseholder Protection Act, which was revised last October which states that the landlord can not raise the rent more than 5% without the tenant’s consent.

If the rent increases do take hold, monthly rents of 2,000,000 or more plus security deposits of around 100 million won may be more than most can handle.

Busanjin-gu office sent a letter to the 46 building owners from Busan Jeonpo Cafe on May 5 asking them to keep their rents at a reasonable level, but there is no way to force them to do so.

The number of cafes has decreased by six to 53 according to Busanjin district, while the number of restaurants has nearly doubled to 138.

There’s also been a sharp increase in hair and nail shops in the area, which now numbers 39.

Cafes are now being forced to move to a cheaper commercial area between NC Department Store and Jeonpo Elementary School.

The area shot to international fame after a New York Times article named the district as one of the best places to visit in 2017.

Haps Staff
Is there something you'd like to see featured in Haps? Drop us a line: [email protected]

Subscribe to our newsletter

Twice-weekly updates to your inbox

The Latest

Air Busan to Resume Flights to China From Incheon International Airport

Local low-cost carrier (LCC) Air Busan plans to resume operating flights to China from Incheon International Airport after 131 days since it had completely stopped operating international flights.

부산과 블라디보스토크, 코로나19 극복 응원영상 공개

부산시와 부산국제교류재단은 비대면 외교의 일환으로 부산과 28년째 자매도시의 연을 맺고 있는 러시아 블라디보스토크시와 함께 제작한 코로나19 극복 응원 영상을 공개한다고 밝혔다.
scattered clouds
23 ° C
23 °
23 °
94 %
40 %
23 °
25 °
21 °
22 °
22 °

Dine & Drink