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Park Joo-min, a controversial Democratic Party member Park Joo-min, recently renewed a contract with a tenant by lowering the monthly rent.
In a call with Yonhap News on the 4th, an official from Congressman Park said, “It is correct that we recently renewed the contract with the existing tenant,” and “the specific (monthly rent cut) figures are being confirmed.”
Earlier, in July of last year, Congressman Park signed a new lease contract for an apartment (84.95㎡) in Sindang-dong, Jung-gu, Seoul for a deposit of 100 million won and a monthly rent of 1.85 million won.
The existing rent was a deposit of KRW 300 million and a monthly rent of KRW 1 million, and the rent was raised by 9.1% by applying the conversion rate to jeon/month at the time of 4%. Applying the 2.5% rent to cheonsei ratio in the revised enforcement decree in September last year, the increase reached 26.6%.
As this contract is a new contract, legally, the upper limit on jeon and monthly rent is not applied.
In response, Congressman Park explained to SNS, “Because it is a new contract, the market price has no choice but to be the standard because it was not subject to the rent to cheonsei ratio under the Housing Lease Protection Act.”
As controversy continued after that, it seems that Congressman Park eventually renewed the contract to lower the rent.
Rep. Song Young-gil said on Facebook that day, “I was relieved by Park’s actions. It was said that yesterday’s rent was cut by 9.3% and renewed the contract.” .
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