South Korea Assembly Considers Bill to Increase Deductions for Repayment of Housing Rental Loans

The South Korean National Assembly July 12 accepted for consideration Bill No. 2123208, to increase the deduction for payments of principal and interest on loans used to rent a house. The bill includes measures to: 1) increase the deduction rate to 60 percent from 40 percent; and 2) increase the annual deduction limit to 8 million South Korean won (US$6,306) from 4 million won (US$3,153). [South Korea, National Assembly, 07/12/23]

Reference: View Bill No. 2123208. View Legislative History of Bill No. 2123208. View Index.