KOREAN FACT
Korea
has a unique housing rental system called Jeonse, which is very unusual for
most foreigners. Instead of paying a monthly rent, the tenant hands over a
large sum of deposit money, sometimes as much as 50 percent of the housing
price, to the homeowner. The owner puts the money into a bank account to earn
interest, invest in stocks, or do whatever he or she wants. The tenants get
back the full amount of the deposited money when the contract ends.
This
system has been popular as the high interest rate guaranteed the homeowner an
income equivalent to monthly rent, without worrying about the delayed payments
by the tenants, who were happy to get the full deposit money back when the
contract expires.
An
increasing number of people, however, are turning to monthly rent these days
due to falling interest rates.
US
In one week we will be home. We are busy saying goodbye to old friends and new. We always feel sad at this time.
We have had a wonderful time -- again --- in a fascinating country. We thank all those old friends/family we have met again. We are overjoyed with our new friends/family. Actually in a country that is confusing, physically beautiful, exciting, rich in food, art and history and yet ultra-modern -- the best part is the people.
Anybody interested in volunteering here?
Thanks for reading.
R & A
We have had a wonderful time -- again --- in a fascinating country. We thank all those old friends/family we have met again. We are overjoyed with our new friends/family. Actually in a country that is confusing, physically beautiful, exciting, rich in food, art and history and yet ultra-modern -- the best part is the people.
Anybody interested in volunteering here?
R & A
