Stop Fraudulent Contracts and Empty Lease Deposits... Ulsan City Expands 'Safe Lease Contract Consultation Center'

7 Organizations Including District Offices and Certified Realtors Association

Consultation Support for Young Adults and Newlyweds

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City has rolled up its sleeves to prevent jeonse fraud by expanding its ‘Consultation Center’.

This is an emergency measure in response to the increasing damage caused by jeonse fraud, such as ‘eat-and-run contracts’ conducted without the landlord’s knowledge and ‘empty-can jeonse’ where the deposit is lost. Jeonse fraud involves larger amounts than voice phishing, making the damage severe.

On the 16th, Ulsan City announced that it will expand the operation of the ‘Safe Housing Lease Contract Consultation Center,’ which was promoted as a countermeasure against real estate jeonse fraud in the Ulsan area, to include district offices and the Korea Association of Realtors.

The city expanded the ‘Safe Housing Lease Contract Consultation Center,’ which has been installed and operated since the 1st of this month in the Land Information Division of City Hall, to a total of seven locations including the city, five district offices, and the Ulsan branch of the Korea Association of Realtors, considering citizen accessibility.

The ‘Safe Contract Consultation Center’ provides consultations for citizens with little experience in real estate contracts, such as young adults starting their careers, newlyweds, and university students.

With the recent surge in jeonse fraud victims mainly in the metropolitan area, the center guides preventive measures so that people can carefully check priority rights, surrounding market prices, and other details before, on the day of, and after the contract, as well as during the balance payment and move-in stages.

After the contract, the center plans to guide the subscription system for ‘Jeonse Deposit Return Guarantee Insurance’ to prevent jeonse fraud damage in advance.

‘Jeonse Deposit Return Guarantee Insurance’ is a product that guarantees the return of the jeonse deposit that the landlord must return to the tenant after the expiration of the jeonse contract.

According to the conditions of the Housing and Urban Guarantee Corporation (HUG)’s Jeonse Deposit Return Guarantee, the Korea Housing Finance Corporation (HF)’s Jeonse Keeper Guarantee, and Seoul Guarantee Insurance (SGI)’s Jeonse Deposit Protection Credit Insurance, tenants can subscribe directly without the landlord’s consent.

In addition, Ulsan City is focusing on promoting awareness of jeonse fraud prevention methods and the jeonse deposit return guarantee subscription system through the websites and SNS of the city, district offices, and associations so that many citizens can learn about them.

An official from Ulsan City said, “We are expanding the operation of the ‘Safe Housing Lease Contract Consultation Center’ so that citizens can receive consultations anywhere. We hope that through phone or visit consultations, safe contracts can be made and precious jeonse deposits can be protected.”

Ulsan City Hall.

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