'임대차법' 개정안 국무회의 통과...오늘부터 시행<br /><br />Laws aimed at protecting the rights of tenants have taken effect as housing prices continue to rise in South Korea.<br />During a Cabinet meeting Friday, Prime Minister Chung Sye-kyun said the swift implementation is to prevent confusion in the market and to stabilize people's livelihoods.<br />"Around 38 percent of people in South Korea rent. I expect these laws will stabilize their livelihoods. I ask related ministries and local governments to notify people of the changes and step up follow-up measures."<br />On Thursday, the National Assembly passed two revised bills one allowing tenants to extend their two-year "jeonse" contracts for another two years.<br />The other puts a five percent cap on rent deposit increases after the four-year period.<br />Jeonse is a lease system in South Korea in which tenants pay a lump deposit instead of monthly rent and is guaranteed for two years.<br />The revision comes amid mounting anger over property prices, which continue to soar despite government measures to try and stabilize the market.<br />A third bill, which requires landlords to report to the government actual rent prices, will likely be put to a vote next week.<br />
