[Changes from the Second Half of the Year] New and Renewal Jeonse/Wolse Contracts Must Report Rent and Contract Period Within 30 Days

'Land and Transportation' Field

[Sejong=Asia Economy Reporter Joo Sang-don] When entering into a new lease contract or renewing an existing one, the contracting parties must report the contract details such as the lease period and rent within 30 days from the contract signing date.

On the 28th, the Ministry of Economy and Finance published "Changes Starting from the Second Half of 2021," which includes this information.

The lease reporting system is a measure introduced to transparently disclose lease market information and protect tenants' rights by requiring the contracting parties to report contract details such as lease period and rent. It has been fully implemented since the 1st of this month under the "Real Estate Transaction Reporting Act."

Accordingly, nationwide lease contracts with a deposit exceeding 60 million KRW or monthly rent exceeding 300,000 KRW must be reported within 30 days from the contract signing date either by visiting the local administrative office (eup/myeon/dong jurisdiction) or online, submitting a lease report form or lease contract. However, renewals without rent changes are exempt from reporting. The reporting items include personal information of the lessor and lessee, information about the leased property such as housing type and address, and contract details such as rent, contract period, and signing date. Considering the public's adaptation period to the new system, the government will operate a grace period without imposing fines for one year from the implementation date (until May 31, 2022).

Starting next month, a service that delivers airline passengers' luggage on their behalf will be introduced for the first time on domestic flights (Jeju). Initially, it will be piloted for passengers departing from Gimpo and arriving at Jeju Airport. Passengers wishing to use the service must apply via a dedicated luggage delivery application at least one day before departure and check in their luggage with the airline at the departure airport. The agency will pick up the luggage at the arrival airport and deliver it to the passenger's destination (accommodation). The government plans to expand this service to major airports and officially operate it from July next year based on the results of the one-year pilot service.

From the second half of the year, drone-exclusive flight test sites will also operate in the metropolitan area. Drone-exclusive flight test sites supporting research, development, and flight testing of drone companies will be established for the first time in Hwaseong, Gyeonggi Province (July) and Incheon (October). The government expects improved accessibility for drone companies located in the metropolitan area.

Additionally, from July 27, the courier business recognition system, which has been operated based on the Ministry of Land, Infrastructure and Transport's notice, will be converted to a courier service business registration system under the "Living Logistics Service Industry Development Act." However, for freight automobile transportation business permits and management of transportation workers required to provide living logistics services, the "Freight Automobile Transportation Business Act" will take precedence.

This content was produced with the assistance of AI translation services.