Photo = Yonhap news

 

 

[Alpha Biz= Paul Lee] The Ministry of Land, Infrastructure and Transport (MOLIT) announced on July 3 that the Jeonse Fraud Victim Support Committee held three plenary meetings in June (on the 11th, 18th, and 25th), during which it reviewed 2,151 cases and approved 1,037 as official victims of jeonse fraud.



Of the approved cases, 922 were new or re-submitted applications, and 115 were previously denied cases that were overturned upon appeal after additional qualifying evidence was submitted, in accordance with Article 3 of the Special Act on Jeonse Fraud Victim Relief.



On the other hand, 671 cases were rejected for failing to meet legal criteria, while 249 were deemed ineligible due to full security deposit recovery via guarantee insurance or priority repayment rights. Additionally, 194 appeals were dismissed due to continued non-compliance with qualifying requirements.



To date, the committee has recognized a cumulative total of 31,437 victims of jeonse fraud. The number of cases where emergency auction or foreclosure postponements were approved has reached 1,019.



In a parallel effort, the Korea Land and Housing Corporation (LH) continues to operate a public purchase program to help stabilize housing for victims. Under this scheme, LH acquires affected properties via auction or direct transfer and leases them as public rental housing to the victims. Residents can live rent-free for up to 10 years, with the auction margin used to offset their losses. When tenants move out, any remaining margin is returned to help recover lost deposits.



As of June 25, a total of 12,703 requests for pre-purchase consultations have been received, and 4,819 cases have completed on-site inspections and eligibility screening. A total of 1,043 units have now been successfully purchased—marking the first time the number has exceeded 1,000.

Jeonse tenants affected by fraud are encouraged to apply for victim recognition through their local municipal government. Once approved, they can receive further support through the Jeonse Fraud Relief Center operated by the Korea Housing & Urban Guarantee Corporation (HUG), either in person or via phone.



The government reiterated its commitment to treating jeonse fraud as a national disaster and pledged to expand support so victims can swiftly return to normal life.

 

 

 

 

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