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General economics
“Rent increase within 59% per year?
Democratic Party begins full-fledged monthly rent cap system
JoongAng Ilbo
Updated 2020.06.09 01.12
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Reporter Joo Jeong-wan
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jeon. With much higher rent, annual increases are limited to less than 5%.
(There is a much higher limit than before) and if the tenant wants, 4 years.
The 21st bill guaranteeing contract completion (right to claim contract renewal)
It is being promoted again in the National Assembly. According to the National Assembly on the 8th,
Rep. Un Hu-deok (Democratic Party of Korea) said this on the 5th:
There is a proposal to amend the Housing Lease Protection Act.
“”Well, I heard that we had already pushed for a 5% increase in the Will tax rate~^^””
It was planned for 2020, but when the monthly rent skyrocketed,
I think I’ll propose this again haha.