Incheon Yeonsu-gu Blocks Youth 'Kkangtong Jeonse'... Operates Safe Transaction Brokerage Offices and Legal Advisory Group

Incheon Yeonsu-gu is promoting a project to help young people find "real jeonse" through the operation of safe transaction brokerage offices for youth and campaigns to prevent empty jeonse fraud. [Provided by Incheon Yeonsu-gu]

[Asia Economy Reporter Park Hyesook] Yeonsu-gu, Incheon is launching a project to help young people find "real jeonse" (long-term lease) housing.

The district announced on the 1st that it will operate the "Cheong·Sa·Jin House" project to find genuine jeonse for young people, aiming to stabilize youth housing and prevent damages caused by real estate contracts, thereby supporting young people's social settlement.

This project supports young people's regional settlement by operating the youth safe transaction brokerage office "MZ House" and conducting campaigns to prevent "empty-can jeonse" fraud.

Empty-can jeonse refers to cases where the sum of the real estate's mortgage loan amount and the jeonse deposit approaches or exceeds the property's market price, causing tenants to be unable to secure their jeonse deposit.

As the start of the project, the district launched the MZ House and the Youth Safe Transaction Support Advisory Group.

"MZ House" is a project that strengthens guidance for brokerage offices to prevent jeonse fraud targeting young people and guarantees safe transactions directly through brokerage offices, fundamentally blocking youth jeonse accidents.

172 real estate brokerage offices in the region have been selected as youth safe transaction brokerage offices, and they will engage in activities such as refraining from recommending empty-can jeonse to young people and providing information on jeonse deposit insurance for expected damages.

Additionally, the "Youth Safe Transaction Support Advisory Group," composed of real estate-related legal experts such as lawyers, tax accountants, and judicial scriveners, provides counseling to young people who have suffered significant financial losses due to jeonse fraud to help alleviate their financial burdens.

Along with this, the district plans to continuously conduct campaigns to prevent empty-can jeonse fraud throughout the year by posting notices on bulletin boards of major local universities, neighborhood offices, and the district office civil service center, informing about the risks of empty-can jeonse and essential points to check during real estate transactions.

The district expects that, based on the voluntary participation of real estate brokerage offices, this project will prevent young people from experiencing great frustration and debt even before they fully enter society as members.

Furthermore, by continuously promoting real estate knowledge and support policies to the young people who are actual transaction participants, the district aims to establish a foundation for them to prevent jeonse fraud on their own and eventually lead to the sound development of the real estate transaction market.

A Yeonsu-gu official stated, "The youth empty-can jeonse prevention project was initiated considering that 48.9% of Yeonsu-gu's population is under 30, the highest among basic local governments in Incheon, and that 62.8% of the domestic empty-can jeonse damage amount involves young people."

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