Starting this month, regulations will be eased for one year on loans taken out by property owners to return lump sum “jeonse” deposits to tenants.

The government unveiled the measure on Tuesday as it announced the direction of its economic policies for the latter half of the year.

The policy will apply to both individual landlords and housing rental businesses, catering specifically to the unique housing deposit in South Korea whereby a tenant puts down a lump sum to be returned in full at the end of the rental contract.

The eased loan regulations will apply in cases where new jeonse prices slip from the previous deposit price or when a landlord is unable to find a replacement tenant in time to repay the current renter.