This research is concerned with the effects of housing policy on rental housing market in Korea, in particular, the informal housing finance mechanism known as the <i>chonse</i>. In spite of many studies on <i>chonse</i> rental housing market, the relationship between government intervention in the housing market and <i>chonse</i> price has not been fully investigated. Most studies emphasize a role of <i>chonse</i> as an informal source of housing finance and none of them pay attention to the relationship between <i>chonse</i> price and government housing policies such as price control for new dwellings and rent regulation. Without a proper housing finance system in Korea, <i>chonse</i> deposit plays an important role in household tenure choice decision. Yet, many studies on <i>chonse</i> rental housings do not show clearly how it works. Furthermore, the interaction of price control and household tenure choice decision has never been a subject of study in Korea. The purpose of my study is, therefore, to contribute toward filling a gap in current knowledge about Korean housing market and to increase understanding of policy impacts on rental housing market in Korea / Ph. D.