501 Additional Jeonse Fraud Cases Confirmed... Total Now at 36,950

Three Plenary Sessions of the Jeonse Fraud Victim Support Committee Held Last Month

The Ministry of Land, Infrastructure and Transport announced on March 4 that, at the plenary session of the Jeonse Fraud Victim Support Committee held last month, 501 cases were designated as jeonse fraud victims.

The committee held three meetings last month and reviewed 1,163 cases. Of the 501 cases that were approved, 478 were new applications (including resubmissions), while 23 were approved after objections to previous decisions were reviewed and confirmed to meet the eligibility requirements. Of the remaining 662 cases, 406 were rejected for failing to meet the requirements. In 137 cases, the deposit could be fully refunded through guarantee insurance or preferential repayment funds, so these cases were excluded. The 119 cases that filed objections were also dismissed because they still did not meet the requirements.

With these additional approvals, the total number of recognized victims has increased to 36,950 cases. The cumulative approval rate now stands at 62.2%. The cumulative number of emergency requests for cooperation on suspending court auctions or public sales stands at 1,108 cases.

Meanwhile, to date, Korea Land & Housing Corporation (LH) has purchased a total of 6,475 housing units affected by jeonse fraud. In 2024 alone, 90 units have been purchased so far; after acquiring 977 units in the first half of last year, the pace accelerated with 3,930 units purchased in the second half. According to the Ministry, since the launch of the new administration last year, the purchase rate has been increasing, with 1,478 units bought in just January and February this year.

This content was produced with the assistance of AI translation services.