Yoon Joon-byung Responds to Criticism of "Living on Monthly Rent" by Saying "I Am Practicing Monthly Rent Life Myself"

Yoon Jun-byeong "Switching to Monthly Rent Is Not Bad, Reflects Awareness Level of Development Era"

Yoon Joon-byung, Democratic Party of Korea lawmaker / Photo by Yonhap News

[Asia Economy Reporter Kim Ga-yeon] Yoon Jun-byeong, a member of the Democratic Party of Korea who has been criticized for claiming that "the conversion of jeonse to monthly rent is not a bad phenomenon" while criticizing Yoon Hee-sook, a member of the United Future Party, revealed that he is "personally practicing living on monthly rent."

On the 2nd, in response to a netizen's comment asking, "Do you live on monthly rent?" Yoon replied, "Many people advised me to try living on monthly rent, and I appreciate the advice to experience monthly rent."

He added, "I have not considered my house as an object of speculation or investment and have lived for over 30 years in a row house at the foot of Bukhansan for the purpose of actual residence without apartment speculation. Now, I am also living on monthly rent."

Earlier, on the previous day (the 1st), Yoon posted on his Facebook a post titled "Is the conversion of jeonse to monthly rent a bad phenomenon?" and criticized Yoon Hee-sook's '5-minute real estate speech.'

Yoon stated, "The conversion of jeonse to monthly rent is a bad phenomenon, and the 5-minute speech suggesting that the lease contract period be extended from the existing 2 years by an additional 2 years, which would lead to the conversion of jeonse to monthly rent, is receiving favorable reviews. However, the conversion of jeonse to monthly rent is not a bad phenomenon," and argued, "The jeonse system is destined to naturally disappear as income levels increase."

He continued, "It seems that those who regret the disappearance of the jeonse system have a mindset stuck in the past development era," adding, "The jeonse system provides temporary convenience to tenants and gives landlords an opportunity for rent-seeking, but for ordinary people in a low-interest era who cannot prepare a large sum of money, monthly rent is an easier way to rent a house than jeonse."

He also said, "Even a person with a 500 million won loan on a 1 billion won apartment mistakenly thinks they are a homeowner, but they are clearly a monthly rent tenant," and added, "After a 2-year jeonse contract, one becomes anxious after just one year. Therefore, many non-homeowning ordinary people probably feel relieved that the lease contract period has been extended to 2+2 years in this legal amendment."

A reply comment left by Yoon Joon-byung, a member of the Democratic Party of Korea, on the 2nd to a netizen's comment. In response to the question "Do you live in a monthly rental now?" he answered, "I am currently living in a monthly rental as well."/Photo by Yoon Joon-byung, Facebook screenshot

Meanwhile, Yoon Hee-sook delivered a 5-minute free speech criticizing the three lease laws at the National Assembly plenary session in Yeouido, Seoul, on the 30th of last month.

Yoon said, "I am a tenant," and pointed out, "The jeonse system has already entered the path of extinction, yet many people prefer jeonse. Because of this law, the jeonse system inevitably entered a path of rapid extinction, causing confusion for many people. The jeonse crisis has already begun."

She continued, "With what kind of audacity and arrogance can this be enacted into law without proper review?" and emphasized, "Those who made this law, and the Democratic Party, which proceeded with the process without detailed review by the standing committee, will be remembered for a long time in the history of jeonse in our country, real estate policy history, and the history of people's livelihoods."