Ruling and Opposition Parties Agree on Jeonse Fraud Legislation... Different Speeds on 'Right of First Refusal' Legislation

3-Party Policy Chiefs Meet at National Assembly
Opposition Urges Government to Prepare Legislation on Right of First Refusal
Disagreement Over Bills to Be Passed in Plenary Session on 27th

Regarding real estate jeonse fraud, the ruling and opposition parties have basically agreed to swiftly pass the victim relief bill on the 27th. However, differences in views between the parties were confirmed concerning the preemptive purchase rights for jeonse houses that have gone to auction and the purchase of claims. While the ruling party insists that the jeonse fraud countermeasures, including preventive measures discussed in the National Assembly, should be promptly finalized in the April extraordinary session, the opposition demands that more fundamental measures, such as preemptive purchase rights, also be handled together.

On the 21st, the policy chiefs of the People Power Party, the Democratic Party, and the Justice Party met at the National Assembly to discuss responses to jeonse fraud. After the meeting, Park Dae-chul, policy chief of the People Power Party, told reporters, "The policy chiefs of the three parties agreed on the urgent need to prepare measures to quickly normalize the difficult circumstances faced by victims of jeonse fraud." Park added, "Regarding the urgent issue of local tax reductions, the policy chiefs of the three parties agreed on legislative parts that can immediately exempt such taxes."

Park Dae-chul of the People Power Party, Kim Min-seok of the Democratic Party of Korea, and Kim Yong-shin, Policy Committee Chair of the Justice Party, are holding a trilateral policy committee chair meeting on responding to jeonse fraud at the National Assembly on the 21st. From left, Lee Man-hee, Senior Deputy Chair of the People Power Party Policy Committee; Kim Min-seok, Chair of the Democratic Party Policy Committee; Park Dae-chul, Chair of the People Power Party Policy Committee; Kim Yong-shin, Chair of the Justice Party Policy Committee; Kim Sung-joo, Senior Deputy Chair of the Democratic Party Policy Committee. Photo by Kim Hyun-min kimhyun81@

While there was consensus on the sense of the problem and some agreement on local tax reductions, there were differences in specific response directions. The ruling party wants to prioritize passing the bills discussed, whereas the opposition is pressing to quickly pass bills this month, including preemptive purchase rights and the purchase of deposit return claims.

Park Dae-chul said, "Among the legislative measures for jeonse fraud victim relief proposed by the People Power Party, eight have been processed, and we proposed to prioritize passing five bills at the plenary session on the 27th." He added, "Kim Min-seok of the Democratic Party responded that while that is good, they discussed creating a consensus bill that includes other proposals as well." Kim Min-seok said, "The Democratic Party and the Justice Party believe that prioritizing the passage of urgent laws, including the purchase of deposit return claims and preemptive purchase rights discussed through party-government consultations by the People Power Party, aligns with public expectations and victims' demands. Although these are being discussed in the standing committee, if the government works overnight and especially if the party-government proposes a law on preemptive purchase rights, it would be good to sufficiently discuss it together with the bills already submitted and aim for passage on the 27th." He added, "Rather than subsidiary bills, it is better to create a comprehensive plan, so we decided to allow more time. We expect a sufficient proposal by the 27th."

Kim Yong-shin, policy chief, said, "The five bills proposed by the People Power Party are laws to prevent 'empty shell jeonse' rather than laws that immediately rescue suspects. While there is agreement on the need for follow-up measures after the March 30th National Assembly session, effective measures to immediately rescue victims, compensate them, and secure their residences require further discussion." Kim added, "There are differences of opinion on effective measures such as guaranteeing public housing occupancy rights through public purchase of deposit claims, so prompt discussions and consultations between relevant standing committees and parties are necessary."

Park Dae-chul mentioned the need for further government consultations regarding the opposition's proposal. He said, "There are various methods related to preemptive purchase rights. There are legal restrictions under current law that require legislative measures to remove, and even if legislative measures are taken, there are various ways to include the content, so it is not something that can be immediately produced. We are discussing this in depth."

The policy chiefs of the three parties agreed to reconsider the matter once the People Power Party communicates with the government to prepare additional measures.

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