Under Korea's lease renewal right, a landlord may raise the deposit or rent by at most 5%. On a 300 million won jeonse deposit that is 15 million won — worth 62,500 won a month once converted at the current 5.00% rate.
If the landlord says nothing 6–2 months before expiry and the tenant stays silent until 2 months before, the lease auto-renews on the same terms for two years. The tenant can still leave anytime, effective three months after notice. Here is how it differs from the renewal-request right.
The 2020 lease renewal right gives tenants one two-year extension and caps rent increases at 5%. Real disputes arise outside the statute — in how the 5% is calculated, what grounds justify refusal, and whether market rents apply to subsequent new contracts.