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South Korea Keeps Rental Tax Break | South Korea News
South Korea’s government has decided to keep the tax deduction for homeowners who rent out their property—still at 1.2 billion won—despite pressure to cut it, while boosting the deduction for those who live in their homes to 1.4 billion won. The move targets luxury property owners, aiming to cool housing market imbalances, but critics warn that lowering the deduction could hurt tenants under the traditional “jeonse” system, which relies on large upfront deposits—a key reason why many renters prefer it despite its costs. For now, the rental deduction stands firm as policymakers balance…
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