[2020 National Assembly Audit] Hong Nam-ki: "Majority Renting Jeonse Benefit from the Three Lease Laws"

Comprehensive Audit of the National Assembly's Planning and Finance Committee on the 22nd

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance, said regarding the Three Lease Laws, "I believe the majority of tenants have benefited from the right to request contract renewal."

On the 22nd, during the comprehensive audit of the National Assembly's Planning and Finance Committee, Hong responded this way when Kim Tae-heum, a member of the People Power Party, asked if he felt there were problems with the Three Lease Laws that the government and ruling party had pushed through.

Hong added, "I understand that those newly looking for jeonse (long-term deposit lease) are facing difficulties in areas where disputes arise."

Regarding criticism that the government's assessment of the jeonse market is detached from reality, he explained, "The number of jeonse listings has decreased partly due to the impact of the Three Lease Laws," and added, "According to the Ministry of Land, Infrastructure and Transport's actual transaction volume statistics for jeonse, it shows an increase compared to the same period last year, so we are analyzing the factors behind this increase and have reported on it."

Hong further stated, "The government simply reported the statistics as they are," and added, "We have presented the facts as they stand."