(1) The duration of chonsegwon shall be for not more than 10 years. If the period prescribed in the contract exceeds 10 years, it shall be shortened to 10 years.
(2) If the duration of chonsegwon for a building is fixed for a period less than one year, it shall be deemed as one year. <Added on Apr. 10, 1984>
(3) The chonsegwon may be renewed. The renewal period shall be not more than ten years from the date thereof.
(4) When a person who has created chonsegwon, for a building has not notified the person, having chonsegwon of his or her refusal to renew the contract, or of the intention to the effect that he or she will not renew if the conditions thereof are not changed, within one to six months before the expiration of the duration of chonsegwon, it shall be considered that a new contract of chonsegwon is made under the same conditions as the previous one, at the expiration of the duration. In this case, the duration of chonsegwon shall be deemed not to have been determined. <Added on Apr. 10, 1984>