Korea's Rent Conversion Cap Hits 4.75% After a Rate Hike
The statutory cap on converting a jeonse deposit into monthly rent rose from 4.5% to 4.75% after the Bank of Korea lifted its base rate to 2.75% in July 2026. Cutting a 300 million won jeonse to a 100 million won deposit caps rent at 791,667 won a month.