Topics: Korean real estate

South Korean authorities are currently facing a race against time to implement emergency measures in order to prevent a liquidity crisis that is directly linked to real estate loans.

South Korean authorities are currently facing a race against time to implement emergency measures in order to prevent a liquidity crisis that is directly linked to real estate loans.

South Korea's real estate market boasts a distinctive rental system known as Jeonse, which sets it apart from other countries. Jeonse is a favored form of rental amongst Korean tenants, as it eliminates the need for monthly rent payments and obligations towards property ownership. Instead, lessees pay a one-time deposit, which can reach up to 70% of the property's value. In return, tenants enjoy a rent-free period lasting two years, after which the landlord returns the entire deposit.

South Korea\'s real estate market boasts a distinctive rental system known as Jeonse, which sets it apart from other countries. Jeonse is a favored form of rental amongst Korean tenants, as it eliminates the need for monthly rent payments and obligations towards property ownership. Instead, lessees pay a one-time deposit, which can reach up to 70% of the property\'s value. In return, tenants enjoy a rent-free period lasting two years, after which the landlord returns the entire deposit.