5% rent increase cap
Korean: 차임 등의 증액 제한
During a lease, rent or deposit can be raised by at most 5%, and not within a year of the last increase.
A request to raise rent or deposit may not exceed one-twentieth (5%) of the agreed amount, and cities and provinces may set a lower cap by ordinance (Housing Lease Protection Act, Art. 7(2)).
No increase may be requested within one year of the contract or of the last increase (Art. 7(1)).
Legal basis
Explanations follow the current Korean statutes on the National Law Information Center (law.go.kr). Laws change, so check the original text before relying on it. This is general information, not legal advice. All terms