title: Chonse, a real property lease transaction unique to South Korea
metadata.name: dc.contributor.author
metadata.value: Kim, Jewan
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-02-07T17:10:50Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-02-07T17:10:50Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2022-09
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Kim, Jewan. 2022. Chonse, a real property lease transaction unique to South Korea. Pravovedenie 66 (3): 276–289. https://doi.org/10.21638/spbu25.2022.303
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu25.2022.303
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/39034
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This article is a tentative analysis of Korean real property lease transaction system, chonse, a
  lease with a large sum of the key money deposit and without monthly rent payments. Chonse
  is the dominant form of lease arrangement used by most middle-class families in Korea without
  ownership of real property for both principal residences and commercial business places.
  The author analyzes this unique institution of real estate lease exclusive to South Korea and
  describes main features and details of it as well as related legal systems. Chonse also has the
  character of a lending system for the real property owners, where the landlord has the same
  position of borrowing the money from the tenant and the lending term is the same as the lease
  period. The tenant as a creditor has the leased property at his/her possession for the term
  and the tenant has the legal interest not only of a usufructuary right but also of a security right
  of pledge or collateral. After a brief review of the legal characteristics and roles of chonse in
  the modern period of development of South Korea, the author critiques the changing role of
  the chonse system in the modern South Korean society. Continuous economic development,
  reform of the financial system, globalized lifestyle and home living, and most of all its shrinking
  and aging population as well as low interest rates and the flourishing of long-term mortgages
  are all circumstances that need to be taken into account in assessing the implications of the
  changes taking place with regard to chonse.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Pravovedenie;Volume 66; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: chonse
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: real property lease
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: registration
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: priority
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: real estate finance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: real estate transaction
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Chonse, a real property lease transaction unique to South Korea
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 04.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/39034/1/04.pdf
resources.format: Adobe PDF
resources.size: 889,39 kB