Gyeongbuk Province Launches Investigation into Jeonse Fraud... "Protecting Residents' Property Is a Basic Duty of Public Officials"

Recently, in Incheon, Seoul, Busan, and other areas, there has been a growing spread of jeonse fraud 피해, where multi-family houses and other properties are purchased using a 'no-capital gap investment' method, rented out, and then the tenants are unable to get their jeonse deposits refunded. In response, Gyeongbuk Province has also begun an investigation into the related situation within the province.

On the 25th, Lee Cheol-woo, Governor of Gyeongbuk Province, recognized the recent socially problematic jeonse fraud 피해 as a social disaster during an executive meeting and instructed the preparation of countermeasures at the provincial level to address the recurring 피해 incidents.

Lee Cheol-woo, Governor of Gyeongbuk Province.

Accordingly, Gyeongbuk Province plans to closely analyze the current status of jeonse fraud within the province by cooperating with related organizations such as the Real Estate Agents Association to identify the situation and, upon discovering problems, coordinate with the police and others to develop response measures.

Additionally, they will refer to 피해 support measures from other cities and provinces like Incheon and devise sector-specific support plans, including financial and legal assistance.

Governor Lee Cheol-woo of Gyeongbuk emphasized, “The fundamental duty of public officials is to protect the lives and property of the residents, which is the very reason for the province’s existence. While one or two 피해 cases may be individual responsibilities, thousands of 피해 cases and recurring problems must be recognized as a social disaster, and the province must prepare countermeasures in advance.”

Governor Lee also stated, “In the future, the jeonse system itself needs to be reformed,” adding, “We will prepare new support measures at the provincial level to improve housing policy trends.”

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