'Lease Business Operator' Who Embezzled 115.5 Billion Won Deposit Still Active... "Ministry of Land Neglecting Duty"

Assemblyman So Byung-hoon "Ministry of Land, All Local Governments Neglect Their Duties"

Apartment Complex in Nowon-gu, Seoul [Image Source=Yonhap News]

It has been revealed that five "bad landlords" who have not returned a total of 115.5 billion won in tenant deposits are still registered and active as landlords. This has been criticized as negligence by the Ministry of Land, Infrastructure and Transport and local governments, which are the responsible authorities.

According to data on the cancellation status of landlord registrations received by Assemblyman So Byung-hoon of the National Assembly Land, Infrastructure and Transport Committee from the Housing and Urban Guarantee Corporation (HUG), it was confirmed that five landlords who have embezzled a total of 115.5 billion won in jeonse deposits have not yet had their landlord registrations canceled.

The current Special Act on Private Rental Housing stipulates that if a landlord delays the return of deposits causing clear damage to tenants as determined by a presidential decree, the mayor, county governor, or district head may cancel all or part of the landlord's registration.

Therefore, despite the fact that these five landlords, whose official unreturned jeonse deposit amounts confirmed by HUG average 23.09525 billion won each, should have their landlord registrations fully canceled by local government decisions, such measures have not been taken, raising concerns.

If the landlord status is not canceled, the landlords can continue to receive various tax benefits provided by the government, such as property tax reductions and exclusion from comprehensive real estate tax aggregation.

Assemblyman So Byung-hoon pointed out, "Both the Ministry of Land, Infrastructure and Transport and local governments have neglected their duties. If the registrations of those who have embezzled the most tenant deposits in South Korea are still not canceled, then who on earth can have their landlord registration canceled?"

There are also opinions that the Ministry of Land, Infrastructure and Transport, which acts as the control tower for the landlord registration system, should completely overhaul the landlord registration cancellation system.

According to Assemblyman So’s office, an official in charge of landlord registration and cancellation at a local government said, "From the local government's perspective, there must be clear evidence that these individuals are bad landlords to cancel their registrations, but we have never received an official letter from the Ministry of Land, Infrastructure and Transport. The Ministry, which can comprehensively review landlord registration statuses and their deposit non-return incidents, should take a more active role."

The explanation is that if the Ministry of Land, Infrastructure and Transport receives data related to bad landlords from HUG and informs the 228 cities, counties, and districts nationwide, each mayor, county governor, or district head should verify and then cancel the landlord registrations.

Assemblyman So said, "The Ministry of Land, Infrastructure and Transport must promptly take action to fully disclose bad landlords, immediately cancel their registrations, and establish regulations for punishing bad landlords."

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