What legislation and/or regulatory bodies are responsible for regulating the relationship between landlord and tenant in South Korea?
Relevant legislation includes the Civil Code, the Act on the Protection of Housing Leases (APHL), the Act on the Protection of Commercial Building Leases (APCBL), the Rental Housing Act (RHA), and the Act on the Regulation of Standardized Contracts (ARSC). Lease agreements prepared by landlords are considered standardized contracts under the ARSC. Lease provisions in such standardized contracts that unfairly prejudice lessees will be deemed null and void. Korean courts have jurisdiction in all landlord-tenant disputes unless there is an arbitration clause in the lease agreement. 2. What is the effect of a tenant’s insolvency, and what remedies are available to landlords? There are three bankruptcy proceedings in Korea: bankruptcy proceedings under the Bankruptcy Act; corporate reorganization proceedings under the Corporate Reorganization Act; and composition proceedings under the Composition Act. Rent claims arising prior to the commencement of corporate reorganization or composition p
