Won Hee-ryong: "Sufficient Auction Funds Loans and Grace Periods for Jeonse Victims"

Attendance at the Land, Infrastructure and Transport Committee Plenary Meeting
Detailed Measures to Be Announced Next Week

On the 20th, Won Hee-ryong, Minister of Land, Infrastructure and Transport, stated, "If we grant victims of jeonse fraud the right of first refusal on houses that come up for auction, we can provide sufficient loans for the funds needed for the auction, and we also plan to allow a sufficient grace period."

Minister of Land, Infrastructure and Transport Won Hee-ryong is speaking at the ruling party-government meeting on the eradication of jeonse fraud and victim support held at the National Assembly on the 20th. Photo by Hyunmin Kim kimhyun81@

Minister Won appeared at the National Assembly Land, Infrastructure and Transport Committee plenary session that day and said, "If victims wish to have the right of first refusal, we can grant it to all who want it."

The right of first refusal under government consideration refers to giving victims the right to purchase the jeonse fraud victim houses at the highest auction price when those houses are put up for auction.

The government is reviewing legal amendments to grant the right of first refusal to jeonse fraud victims.

Regarding the government's plan to postpone auctions of houses affected by jeonse fraud, Minister Won said, "The six-month postponement period is too short," and added, "We will consult with the courts to secure a sufficient period."

In response to the Democratic Party lawmaker Heo Jong-sik's criticism that "auctions of (jeonse fraud victim houses) are currently in full swing, and auction hunters are flocking to take all the properties among themselves," Minister Won stated, "The Presidential Office is directly monitoring to ensure that financial institution auctions of jeonse fraud victim houses are all halted starting today (the 20th)."

The government plans to complete inter-agency consultations on detailed measures this week and announce countermeasures next week.

Minister Won said, "We will responsibly present countermeasures, including implementation plans, as soon as possible."

In response to People Power Party lawmaker Kim Seon-gyo's question asking whether he agrees with the Democratic Party's claim that jeonse fraud occurred due to the government's sloppy measures, Minister Won said, "I accept the criticism of the government's unlimited responsibility, but it is inappropriate for the party that caused the problem to suddenly act as the solver," adding, "At least some conscience is needed."

Meanwhile, when asked about his stance on the Democratic Party lawmaker Hong Gi-won's bill to unify the three real estate regulation zones?adjustment target areas, speculative overheating districts, and speculative districts?into a single 'Real Estate Management Area,' Minister Won said, "I fully agree with the intent."

Minister Won added, "As soon as the results of the research project conducted by the Ministry of Land, Infrastructure and Transport are out, we will coordinate with relevant ministries to ensure that the intent of the amendment is promptly reflected."

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