Seoul Mayor Oh Se-hoon Dismisses Long-term Jeonse Extension Demands as Unreasonable

Seoul Mayor Oh Se-hoon has repeatedly reaffirmed his stance that there will be no exceptions to mandatory move-outs for long-term jeonse (lump-sum housing deposit) rentals, addressing recent demands by some residents to extend their lease terms.

Mayor Oh made the remarks during the Hope Talk for Seoul's Housing Ladder held in the grand conference hall at Seoul City Hall, approximately one year ahead of the first 20-year maturity milestone for long-term jeonse housing.

"There is some noise because some people want to continue living there even after their residency period expires," Mayor Oh said, criticizing the demands as "unconscionable and unreasonable persistence."

He also made it clear that there will be no exceptions made for moving out upon lease expiration.

Explaining the reasoning, Mayor Oh stated, "This is because there are many people waiting to move into long-term jeonse housing, and they are also citizens of Seoul."

The Seoul Metropolitan Government emphasized that long-term jeonse housing serves as a "housing ladder" to help homeless citizens achieve homeownership.

The city first introduced mid-to-large-sized long-term jeonse housing in 2007, supplying a total of some 38,000 units to date.

As of this year, the average deposit for long-term jeonse housing stands at 293 million KRW, which is about 41 percent of the average jeonse price for apartments in Seoul.

The Seoul Metropolitan Government analyzed that the reduced housing cost burden has allowed resident households to save money and prepare for housing subscription savings.

Starting next year, initial resident households that have completed their 20-year terms will begin moving out.

Accordingly, the city plans to reclaim approximately 9,300 units whose leases expire through 2031—beginning with 310 units next year—and re-supply them as long-term jeonse housing and Mirinaejip units for young adults and newlyweds.

Reported by Jung Da-eun | Video by Seo Byeong-wook | Graphics by Lee Jeong-ju | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.