The Korean Real Estate Management Association to Hold Academic Seminar on the 3rd of Next Month
Improvement Measures for the Commercial Lease Dispute Mediation System
The Korea Real Estate Management Association announced on the 31st that it will hold an academic seminar on "Improvement Measures for the Commercial Lease Dispute Mediation System" at the Rivera Hotel Cheongdam Hera Hall on the 3rd of next month, in collaboration with Metrix.
Recently, disputes related to commercial properties, which are the business sites of self-employed individuals, have been rapidly increasing. This is due to the worsening business environment for self-employed people caused by the COVID-19 pandemic, global economic recession, and high interest rates. Due to deteriorating business conditions, there are cases where monthly rent cannot be paid, which leads to landlords bearing the burden of loan interest.
While tenants' rights to request rent reductions are recognized, there are insufficient standards regarding the specific scope or duration of rent reductions, leading to an increase in disputes between landlords and tenants. When such conflicts arise, it is not uncommon for landlords and tenants to fail to reach an agreement, resulting in dispute mediation or litigation.
The seminar will be moderated by President Kim Hak-hwan and will feature presentations in the following order: △ Topic 1: Commercial Lease Disputes and the Role of Administrative Agencies (Dr. Seo Hye-jin, Seoul Metropolitan Government), △ Topic 2: Activation Measures for the Commercial Lease Dispute Mediation System (Professor Seo Young-cheon, Seowon University). This will be followed by a lively discussion with Professor Seo Jin-hyung of Gyeongin Women's University, Professor Park Moon-soo of Sangmyung University, and Professor Lee Chun-won of Kwangwoon University.
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Kim Young-hwan, President of the Korea Real Estate Management Association, stated, "If dispute mediation for commercial leases proceeds smoothly through this academic conference, landlords and tenants can coexist harmoniously, and social losses caused by the expansion of disputes are expected to decrease."
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