A trial run will begin next week for the mandatory reporting of rental transactions as part of a new law aimed at protecting the rights of tenants.

On Thursday, the Land Ministry issued an advance legislation notice for the related revisions, which require those involved in rental transactions to report the housing unit, rental price and period.

From Monday, the trial run will start in five areas in the central cities of Daejeon and Sejong, and the Gyeonggi provincial city of Yongin.

The program will officially take effect in June, requiring all housing rental transactions in the capital region and other major cities to be reported within 30 days.

Reporting is required for transactions involving a lump-sum deposit of at least 60 million won or more or monthly rent of over 300-thousand won, depending on the region.

Violators will face a fine of up to one million won after a one-year grace period ends after May 31, 2022.