Savings Banks Support Jeonse Fraud Victims with Auction Postponement and Loan Interest Rate Adjustments

Support for Victims' Kyungnak Fund Loans Also Provided

The savings bank industry will provide financial support such as auction deferral and loan interest rate adjustments for victims of jeonse fraud.

The Korea Federation of Savings Banks announced on the 20th a financial support plan for victims of jeonse fraud containing these measures.

First, the savings bank industry plans to implement auction and public sale deferral measures for houses involved in jeonse fraud and adjust loan interest rates for victims who have jeonse deposit loans with savings banks. If a victim of jeonse fraud wins the bid for the relevant house, the industry will provide maximum loan support within the scope permitted by government policies. To prevent jeonse fraud, screening for multiple debtors and multiple homeowners will also be strengthened.

The Korea Federation of Savings Banks stated, “We will actively consult with the industry on various support measures so that victims suffering from jeonse fraud can quickly restore their daily lives through housing stability.”

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