LH Opens Housing and Commercial Lease Dispute Mediation Committee in Gyeonggi Area

Operating in 10 locations nationwide including the Seoul metropolitan area, additional openings in Ulsan and Jeju this month
Contributing to rental market stabilization through dispute mediation on rent increases and lease renewals

[Image source=Yonhap News]

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 9th that it has opened the ‘Housing and Commercial Building Lease Dispute Mediation Committee’ and the ‘Lease Consultation Center’ in the Gyeonggi area.

The ‘Lease Dispute Mediation Committee’ is established under the Housing Lease Protection Act and the Commercial Building Lease Protection Act to rationally and promptly mediate various disputes related to lease contracts, such as disputes over the increase or decrease of deposits or rent, contract periods, maintenance obligations, and key money disputes.

Following the amendment of the Housing Lease Protection Act last year, nine new Lease Dispute Mediation Committees were launched in Seoul, Incheon, and other areas to quickly respond to the increasing demand for dispute mediation and improve customer accessibility. This year, starting with the Gyeonggi area, additional mediation committees will be opened in Ulsan and Jeju regions within this month.

Any party involved in a conflict related to a lease contract can apply for dispute mediation, and mediation will be promptly conducted within 60 days from the date of application. The fees are set reasonably from a minimum of 10,000 KRW to a maximum of 100,000 KRW depending on the lease amount, making dispute mediation more affordable and reasonable compared to litigation.

In particular, LH expects that the ‘Lease Dispute Mediation Committee’ will greatly contribute to the stabilization of the lease market by promoting amicable mediation between parties through effective solutions to various disputes based on the expertise of the operating institution.

Additionally, the ‘Lease Consultation Center,’ which provides various consultations based on mediation cases related to deposit and rent increases, contract renewals, key money disputes, and the scope of restoration costs for housing and commercial leases, has also been opened to resolve various questions related to leases.

This content was produced with the assistance of AI translation services.