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The jeonse renewal right protects tenants. Why does it push up new jeonse prices?

At Olympic Park Foreon, an 84㎡ jeonse (Korea's lump-sum deposit lease) went for KRW 1.65 billion on a new September contract, versus KRW 840 million on a renewal. Renewals start from the old price and only new contracts absorb the higher market rate, yet those who stay...