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Jeonse
( ; ; ), also known as ''chŏnse'', key money deposit or key money, is a type of lease or deposit common in the South Korean real estate market. Instead of paying monthly rent, a renter will make a lump-sum deposit on a rental space, at anywhere from 50% to 80% of the market value, which is then returned at the end of the lease term. The owners make profit from reinvesting the deposit, instead of receiving the monthly rent. It is also possible to combine a lower deposit with a small monthly rent; this is known as (). Operation involves the tenant giving the landlord a large sum of "key money" when a lease is signed. The amount of money required depends on the economy and the location of the property. Usually, the amount required is 50% of the property's value but can be as high as 60-80%. In 2014, it was reported that the average cost of a in Seoul equals almost $300,000 USD. The tenant is then allowed to stay in the property "rent-free", not requiring any additional mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Money
Key money is one of several forms of payment made to a landlord. The term has various meanings in different parts of the world. It sometimes means money paid to an existing tenant who assigns a lease to a new tenant where the rent is below market. It sometimes means a bribe to a landlord. In other parts of the world, it is used synonymously with normal security deposits, which are used to cover nonpayment of rent and excessive damage to a rental unit. Oceania Australia In many states of Australia (New South Wales, Victoria, etc.), the Retail Leases Act calls key-money a payment or benefit without true consideration, expected from a tenant in order for a lease being granted, renewed or modified, and makes such payment illegal. Asia Japan In Japan, is a mandatory payment to the landlord that is often the same amount as the original deposit (). However, ' can be the equivalent of six months (or more) of rent, but is typically the same as one to three months of rent. This money ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In South Korea
Housing in South Korea includes detached houses, apartment (unit of apartment, row houses, and private houses), studio apartments, and dormitories in non-residential buildings such as shopping malls and factories. While the occupancy rate of apartment houses is steadily rising, the occupancy rate of detached houses is steadily falling. Traditional Korean Houses Hanok is wooden house consisting of ondol, maru, kitchen, bueok, and madang. Depending on the roof material, there are several types of hanok, such as giwajip, Choga (architecture), chogajip, gulpijip, cheongseokjip, and Wood shingle, neowajip. Most of them, Giwajip were owned by wealthy and high-ranking people. Chungjeong Apartment is among the oldest extant apartment buildings in South Korea, having been built during 1937. It was decided in 2022 that the building would be demolished. Housing statistics South Korea's housing market grew as Bank of Korea, central bank interest rates were cut at the beginning of the coro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antichresis
Antichresis, under civil law and Roman law, is a contract whereby a debtor pledges (i.e., conveys possession of but not title to) real property to a creditor, allowing the use and occupation of the pledged property, in lieu of interest on the loan. Historically, antichresis was used in Ancient Mesopotamia ( Akkad, Assyria, Babylonia) and by the Greeks and the Romans and it is still widely used in Bolivia. After the Western Church banned interest loans, it became a favored method of securing loans in early medieval society and was known in England as the gage of land ( OFr ''gage'', MLG ''sate'', Germ ''Satzung''). There were two variants: (1) the living gage (OFr ''vif gage'', Germ ''Zinssatzung''), under which the income and profits coming from the estate went towards reducing the loan's principal; and (2) the dead gage (OFr ''mort gage'', MLG ''dotsate'', Germ ''Totsatzung''), under which the income and profits were taken only as interest. The latter form underlies the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Bubble
A real-estate bubble or property bubble (or housing bubble for Residential area, residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom or reduced interest rates. A land boom is a rapid increase in the market price of real property, such as housing, until they reach unsustainable levels and then decline. This period, during the run-up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below. Bubbles in housing markets are more critical than stock market bubbles. Historically, Equity (finance), equity price busts occur on average every 13 years, last for 2.5 years, and result in about a 4 percent loss in Gross domestic product, GDP. Housing price busts are less frequent, but last nearly twice as lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgages
A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Terminology
Real may refer to: Currencies * Argentine real * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Nature and science * Reality, the state of things as they exist, rather than as they may appear or may be thought to be * Real numbers, the set of rational and irrational numbers (and opposed to imaginary numbers) * The Real, an aspect of human psychic structure Sports Africa * Real Republicans FC (Accra), Ghana * Real Republicans F.C. (Sierra Leone) Central and South America * Club Real Potosí, Bolivia * Municipal Real Mamoré, Bolivia * Associação Esportiva Real, Brazil * Real Noroeste Capixaba Futebol Clube, Brazil * C.D. Real Sociedad, Honduras * Real C.D. España, Honduras *Real Maya, Honduras * Real Club España, Mexico * Real Saltillo Soccer, Mexico * Real Sociedad de Zacatecas, Mexico *Real Estelí Baloncesto, Nicaragua * Real Estelí F.C., Nicaragua *Real Madriz, Nicaragua *Real Garcilaso, P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Korea
Economy of Korea may refer to: * Economy of South Korea *Economy of North Korea The economy of North Korea is a Central planning, centrally planned economy, following ''Juche'', where the role of market allocation schemes is limited, although increased to an extent. , North Korea continues its basic adherence to a centrali ... {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Segye Ilbo
''Segye Ilbo'' () is a Korean-language newspaper published in South Korea. The newspaper is owned by News World Communications, which was established by the Unification Church. It is considered right-leaning and conservative Conservatism is a cultural, social, and political philosophy and ideology that seeks to promote and preserve traditional institutions, customs, and values. The central tenets of conservatism may vary in relation to the culture and civiliza .... References External links Official website Korean-language newspapers Daily newspapers published in South Korea Conservative media in South Korea Discrimination against LGBTQ people in South Korea Unification Church affiliated organizations {{SouthKorea-newspaper-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Korea
The Bank of Korea (BOK; ) is the central bank of South Korea and issuer of South Korean won. It was established on 12 June 1950 in Seoul, South Korea. The bank's primary purpose is price stability. For that, the bank inflation targeting, targets inflation. The 2016–18 target is consumer price index, consumer price inflation of 2.0%. History 1950–1970 The Bank of Korea was established on under the Bank of Korea Act passed of , taking over assets and operations from the simultaneously liquidated Bank of Chōsen. It was given a wide range of functions in relation to monetary and financial policy, Banking regulation and supervision, banking supervision, and foreign exchange policy. The Korean War began only thirteen days after the bank was created, forcing the Head Office to relocate to Daejon, Daegu and Busan. It returned to Seoul after the Incheon landings. The bank's 89 boxes of silver and gold bullion was moved by the military to the Commander Fleet Activities Chinhae, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korea JoongAng Daily
''Korea JoongAng Daily'' () is the English edition of the South Korean national daily newspaper '' JoongAng Ilbo''. The newspaper was first published on October 17, 2000, as ''JoongAng Ilbo English Edition''. It mainly carries news and feature stories by staff reporters, and some stories translated from the Korean language newspaper. Overview ''Korea JoongAng Daily'' is one of the three main English newspapers in South Korea along with ''The Korea Times'' and ''The Korea Herald''. The newspaper is published with a daily edition of ''The New York Times'' and it is located within the main offices of the ''JoongAng Ilbo'' in Sangam-dong, Mapo-gu, Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b .... See also * List of newspapers in South Korea References SlayypookieExtern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19
Coronavirus disease 2019 (COVID-19) is a contagious disease caused by the coronavirus SARS-CoV-2. In January 2020, the disease spread worldwide, resulting in the COVID-19 pandemic. The symptoms of COVID‑19 can vary but often include fever, fatigue, cough, breathing difficulties, anosmia, loss of smell, and ageusia, loss of taste. Symptoms may begin one to fourteen days incubation period, after exposure to the virus. At least a third of people who are infected asymptomatic, do not develop noticeable symptoms. Of those who develop symptoms noticeable enough to be classified as patients, most (81%) develop mild to moderate symptoms (up to mild pneumonia), while 14% develop severe symptoms (dyspnea, hypoxia (medical), hypoxia, or more than 50% lung involvement on imaging), and 5% develop critical symptoms (respiratory failure, shock (circulatory), shock, or organ dysfunction, multiorgan dysfunction). Older people have a higher risk of developing severe symptoms. Some complicati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rural Flight
Rural flight (also known as rural-to-urban migration, rural depopulation, or rural exodus) is the Human migration, migratory pattern of people from rural areas into urban areas. It is urbanization seen from the rural perspective. In Industrialisation, industrializing economies like Industrial Revolution in the United Kingdom, Britain in the eighteenth century or Four Asian Tigers, East Asia in the twentieth century, it can occur following the Factory farming, industrialization of Primary sector of the economy, primary industries such as Industrial agriculture, agriculture, Mining industry, mining, Industrial fisheries, fishing, and Forestry industry, forestry—when fewer people are needed to bring the same amount of output to market—and related Secondary sector of the economy, secondary industries (refining and processing) are consolidated. Rural exodus can also follow an ecological or human-caused catastrophe such as a famine or resource depletion. These are examples of pus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
