[Photo] "Jeonwolse Conversion Rate Reduced from 4% to 2.5%"
![[Photo] "Jeonwolse Conversion Rate Reduced from 4% to 2.5%"](http://www.asiae.co.kr/news/img_view.htm?img=2020081910154732352_1597799747.jpg)
On the 19th, the government decided to lower the jeonse-to-monthly rent conversion rate from the existing 4% to around 2.5%. Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated at the meeting of ministers overseeing the real estate market that the current 4% conversion rate could accelerate the trend toward monthly rent and increase the burden on tenants, which led to this decision. The photo shows a real estate agency in Jamsil, Seoul on the same day. / Reporter Moon Ho-nam munonam@
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