Gyeonggi-do Launches 'Special Crackdown' on Real Estate Agents Involved in Malicious Property Transactions

Gyeonggi Provincial Government Gwanggyo New Office Building

Gyeonggi Province will conduct a special inspection targeting licensed real estate agents who mediated lease fraud contracts, such as the recently socially problematic 'Kkangtong Jeonse' (empty-can Jeonse).

Gyeonggi Province announced that it will form a joint inspection team with the Ministry of Land, Infrastructure and Transport, provincial and city/county/district offices, and special judicial police, and with on-site support from the Korea Association of Realtors, will carry out a joint special inspection from April 27 to May 31.

The special inspection targets a total of 565 cases in the province over the past two years involving guarantee accidents that occurred at the Housing and Urban Guarantee Corporation (HUG) related to contracts mediated by licensed real estate agents.

Jeonse tenants usually subscribe to the Jeonse Deposit Return Guarantee at HUG when signing a lease contract to protect their Jeonse deposit.

This special inspection will conduct on-site investigations on licensed real estate agents who have mediated properties owned by malicious landlords two or more times by cross-checking property information of houses with guarantee accidents against the list of malicious landlords.

Malicious landlords refer to those who have been involved in three or more guarantee accidents, have no voluntary repayment history in the past year, or have unrecovered amounts of 200 million KRW or more, requiring focused management.

Through this special inspection, the province will examine ▲registration seals at the time of opening the brokerage office ▲real transaction reports of real estate ▲contracts related to accident properties ▲and whether the actual transaction price matches the contract amount.

In addition, the province will thoroughly investigate issues such as lending of real estate agent licenses, unreported employees, and compliance with the obligation to verify and explain brokerage objects.

Ko Jung-guk, Director of the Land Information Division of the province, said, "As lease fraud targeting young adults and ordinary citizens continues, the anxiety of residents is growing," adding, "We plan to take strict measures according to law and principles against licensed real estate agents involved in illegal activities through thorough on-site investigations."

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