Death of Korea's 'apartment king' leaves 100s in property purgatory
Can someone explain how this &#x27;Jeonse&#x27; system works? The article is vague -- it states that a large deposit is required equal to around the price of the entire property, but why? Do they still have to pay rent? Why won&#x27;t they get their deposit back if the state takes ownership? Shouldn&#x27;t huge deposits be in escrow? None of this makes any sense to me.