Landlord and Tenant Law in South Korea compared to Asia
South Korea: Landlord and tenant laws
The amount of control the landlord has over his property, measured on a five-point rating scale:
- Strongly Pro-landlord = 2
- Pro-landlord = 1
- Neutral = 0
- Pro-tenant = -1
- Strongly Pro-tenant= -2
We look at factors such as the following:
- Can rents be freely agreed between landlord and tenant?
- Can the landlord collect security and rental deposits, and are the amounts limited?
- Must contracts be for specified periods? Can either landlord or tenant terminate early, and what are the penalties for early termination? Does the tenant have a right to extend?
- Does the court system work? How long can it take to evict a tenant for non-payment of rent?
For fuller details see the Data FAQ. The resulting rating is the Global Property Guide's view, and not necessarily that of the contributing law firm (in cases where we have asked law firms for contributions and input).
Source: Global Property Guide Research, Contributing Law Firms
South Korea has good house price statistics. The Korean Statistical Information Service (KOSIS) releases a monthly house price index. Good sources of economics statistics are the Korea National Statistical Office (KNSO) and the Bank of Korea..