Kim Dong-yeon Responds to President Lee's Real Estate Loan Fraud Warning: "Gyeonggi Province Will Take the Lead"

Kim Dong-yeon, Governor of Gyeonggi Province, has pledged that Gyeonggi Province will take the lead in stabilizing the real estate market in response to the Lee Jaemyung administration's warning against fraudulent real estate loans.

On March 18, Governor Kim wrote on his social media account, "The President has issued a strong warning about fraudulent real estate loans," adding, "Such actions not only rob business operators of opportunities when they are in urgent need of funds, but also constitute a dual crime that disrupts economic security for ordinary citizens by destabilizing housing."

Post and photo posted by Gyeonggi Province Governor Kim Dong-yeon on his SNS on the 18th

He continued, "Gyeonggi Province has declared an all-out war against all forces disrupting the real estate market, including price collusion, price rigging, and jeonse fraud. We are offering a reward of up to 500 million won for reports, and are thoroughly tracking down illegal, expedient, and unfair practices in the market."

He also emphasized, "As the 'on-site manager' of Gyeonggi Province under the Lee Jaemyung administration, I will ensure the stabilization and normalization of the real estate market."

Earlier, on March 17, President Lee Jaemyung posted on social media, warning, "If someone deceives a financial institution by claiming to borrow funds for business purposes and then uses that loan to purchase real estate, instead of for its stated purpose, they will face criminal prosecution for fraud."

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