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South Korean antitrust regulator seeks fairer deposit protection for tenants

( November 5, 2024, 04:13 GMT | Official Statement) -- MLex Summary: The South Korean competition regulator recommended that the Korea Housing & Urban Guarantee Corporation revise the terms and conditions for rental deposit guarantees. The current terms allow the corporation to cancel its deposit guarantee when landlords are found to have fraudulently made housing contracts. The Korea Fair Trade Commission found that the terms restricted tenants’ rights to recover their deposits in cases where landlords were at fault, shifted risks to tenants and granted the corporation an unnecessary right to terminate the guarantee contract, all in violation of the Act on the Regulation of Terms and Conditions. The statement, in Korean, is attached....

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