No. 20 Patch Subscription System... Lost Winning Due to Confusion

10% Cancellations Over 5 Years Due to Qualification and Input Errors

[Asia Economy Reporter Kangwook Cho] Since the current administration took office, it has been confirmed that 1 out of 10 winners of apartment and other housing subscription lotteries had their winning status canceled amid 20 revisions to the subscription system. Critics argue that the government's patchwork policies have turned the subscription system into a 'lottery ticket,' resulting in a proliferation of applicants losing their subscription opportunities due to simple mistakes.

According to related industries on the 9th, since the inauguration of the Moon Jae-in administration, the 'Regulations on Housing Supply' containing the subscription system have been revised 20 times based on the number of implementations. During this process, disqualified winners have also surged.

According to data submitted by the Korea Real Estate Board to Yang Kyung-sook, a member of the Democratic Party of Korea, among 1,099,436 winners without home ownership over the past five years, 112,553 people, accounting for 10.2%, received notifications of cancellation due to 'disqualification.' By year, the numbers were △29,034 cases in 2016 △21,807 cases in 2017 △19,884 cases in 2019 △19,101 cases in 2020, and even this year, 3,758 winners had their status canceled by April.

The most common reason was 'subscription score errors,' accounting for 71.3% with 80,264 people losing their housing acquisition opportunities due to misunderstanding their main qualifications or input errors. This was followed by re-winning restrictions (12.9%), duplicate subscriptions among members of non-homeowner households (5.4%), and special supply frequency restrictions (4.7%).

If disqualified, subscription opportunities are restricted for one year in the metropolitan area and speculative/overheated subscription districts, and up to six months in other regions. Cases are occurring where applicants lose the chance to own a home after winning due to minor input errors or mistakes during the application process, as they fail to properly understand the rapidly changing subscription system.

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