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South Korean FM lost his rented accommodation due to his own new housing policy rules

R Sinduja

News Editor
Image Credit: reuters

South Korean's finance minister Hong Nam-ki is now looking for a new home as his landlords have evicted him from the property owing to his new housing policy. He is also facing more difficulty as the average deposit in the area where he lives has increased by a 3rd. The new housing policy restricts the increase of jeonse deposits at 5% and allows tenants to prolong the 2-year contract for another 2 years.