Yeosu City Uncovers Suspects of Illicit Transfers Involving 'Residential-Type Accommodation Facilities'

Notification to Related Agencies of 17 Individuals Including Those Suspected of Myunguisintak, Indirect Gifts, and False Reporting

[Yeosu=Asia Economy Honam Reporting Headquarters Reporter Sim Kyung-taek] Yeosu City in Jeollanam-do conducted a first detailed investigation into the resale of residential-type lodging facility pre-sale rights in the Ungcheon area starting from mid-July and has notified the police station and tax office of the results respectively.

According to the city, from June 22 to July 13, among the resale reports of newly pre-sold residential-type lodging facilities in the Ungcheon area, 13 cases involving 28 people suspected of illegal transactions were thoroughly analyzed through explanatory materials and financial transaction details. On the 6th, a total of 17 suspicious traders were reported to related agencies.

The suspected cases include those with different real-name holders and depositors of sales proceeds for the pre-sale rights, suspected pre-sale rights name trusts, and those suspected of evading gift tax during the name change process of pre-sale rights among family members. If violations are confirmed through investigations by related agencies, strong administrative measures will be taken according to relevant laws.

Additionally, Yeosu City plans to continue detailed investigations of pre-sale rights for newly scheduled apartment move-ins that have been conducted since the beginning of the year.

A city official stated, “Residential-type lodging facilities (residences) must be registered as lodging businesses, and if used for residential purposes, they are subject to enforcement fines. Those who bought them for the purpose of owning a home may face setbacks, so caution is required,” adding, “We will devote all efforts to blocking illegal real estate activities that increase the burden of home ownership for ordinary citizens.”

Meanwhile, in June, Yeosu City caught seven illegal real estate agents ("tteotdabang") at the residential-type lodging facility pre-sale sites, handed them over to the police, and three of them were indicted, showing a full-scale effort to block real estate speculation forces.

Yeosu=Asia Economy Honam Reporting Headquarters Reporter Sim Kyung-taek simkt7@asiae.co.kr

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