South Korea will tighten some rules on home lease contracts to stabilize "jeonse" deals, as more homeowners prefer to receive monthly rental fees.
Currently, a homeowner gets four percent of a jeonse contract as monthly rental fees if the tenant seeks to convert the jeonse into a monthly rental deal.
According to Finance Minister Hong Nam-ki, the South Korean government will lower the ratio to 2.5 percent to encourage homeowners to keep their jeonse contracts.
Last month, the government announced it would further rein in soaring housing prices, as other steps such as tax hikes and loan regulations failed to provide a remedy.
The government would supply 132,000 homes, including 110,000 homes in Seoul and neighboring areas, by 2028 by easing restrictions on residential building construction.
The eased rules allow redevelopment projects of aging apartment complexes to increase their floor area ratio to between 300 and 500 from the current 250 percent and build 50-story apartment buildings in the greater Seoul area, from the current 35-story height restriction.


Oil Prices Climb in Asian Trade as Venezuela Sanctions and Middle East Tensions Fuel Risk Premium
Yen Slides as BOJ Caution Undercuts Rate Hike Impact
German Exports to the U.S. Decline Sharply as Tariffs Reshape Trade in 2025
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook
U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts
Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries
Russia Stocks End Flat as Energy Shares Support MOEX Index
South Korea Central Bank Warns of Rising Financial Stability Risks Amid Won Volatility
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 



