Death of Korea's 'apartment king' leaves 100s in property purgatory
A tragic recent event in Korea: a huge landlord, owning hundreds of properties, suddenly passed away. This landlord managed to borrow hundreds of millions of dollars from his tenants - many were lending over 10x their annual salary to their landlord! So what's going on here? How could a wealthy landlord have borrowed so much from his poorer tenants? The key is a unique institution in Korea called the Jeonse system. I'll discuss some thoughts on the situation, based on a recent paper I wrote with @BaiyunJ and Seongjin Park https://twitter.com/anthonyleezhang/status/1613978295464300547