Police Crack Down on 823 Real Estate Market Disruptors... "Broker Arrests and Investigations Underway"

32 Referred for Prosecution, 789 Under Investigation
Most Common: Market Order Disruption
Focused Crackdown on 'Giheok Budongsan' and Others in Sejong Area

[Asia Economy Reporter Lee Gwan-ju] The police, who launched a special crackdown on real estate market disruption activities, have apprehended over 800 related offenders. Among them, those involved in illegal resale of pre-sale rights and other 'transaction order disruption activities' were the most numerous.

The National Police Agency announced on the 26th that they have apprehended 823 individuals involved in real estate market disruption activities and sent 34 of them to the prosecution with a recommendation for indictment. Investigations are ongoing for 789 others.

By category, transaction order disruption activities accounted for the largest number with 526 individuals, followed by 142 involved in corruption in reconstruction and redevelopment associations, 63 in illegal brokerage activities, 54 in public housing rental corruption, and 38 in jeonse deposit fraud.

The police have been conducting a 'Special Crackdown on Real Estate Market Disruption Activities' for 100 days from the 7th of this month to November 14th. The main targets of the crackdown are ▲illegal resale of pre-sale rights through mobile brokerage offices ▲organized trading of subscription savings accounts ▲planned real estate fraud using development prospect information ▲unregistered real estate brokerage online ▲and other illegal acts that promote real estate fraud and speculation.

To this end, the police have organized 11 'special investigation teams' consisting of 54 personnel across 8 regional police agencies that have jurisdiction over speculative overheating zones and regulated areas. The police plan to conduct crackdowns according to regional real estate issues. In the Sejong area, the Sejong Police Agency and adjacent regional agencies such as Daejeon, Chungnam, and Chungbuk Police Agencies are jointly focusing on planned real estate fraud, while in areas like Gangnam in Seoul, they are concentrating investigative efforts on illegal subleasing of rental apartment lease rights and jeonse deposit fraud that prey on the unstable jeonse prices, targeting illegal acts that hurt low-income households without homes.

A National Police Agency official stated, "We will strictly crack down on all illegal acts that disrupt the real estate market according to law and principles," and emphasized, "In particular, habitual offenders such as brokers who promote real estate speculation will be prosecuted with a zero-tolerance policy, including detention."

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