Abstract
Abstract Jeonse is a dominant and unique tenure of South Korea. Contrary to home sale prices that repeatedly go up and down, the cost of jeonse deposit has been rising rapidly to the extent that it threatens the tenure security of low-income families. Furthermore, under the current low interest rate policy, landlords are increasingly turning away from jeonse to monthly rental for higher monetary yields. This paper aims to identify factors that contribute to the rise and fall of the jeonse system and its eventual shift towards monthly renting. It touches upon the major issues facing the South Korean housing sector, including the changing economic environment of housing tenure, tenure security for low-income households, and the streamlining of the rental market. The Jeonse debate is concerned with the South Korea's rental housing market restructuration, which includes: the recovery from the rapid fall of jeonse prices during the 1997 financial crisis, the demand resulting from the reconstruction of large ap...
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