Kim, Jinwon - In: Journal of Housing Economics 22 (2013) 4, pp. 338-358
South Korea has a unique kind of rental contract, called chonsei. The tenant pays an upfront deposit, typically from 40% to 70% of the property value, to the landlord, and the landlord repays the deposit to the tenant upon contract termination. The tenant is not required to make any periodic...
