Relief and Prevention of Jeonse Fraud... Implementation of the 'KB Jeonse Safety Program'

Ministry of Land, Infrastructure and Transport and Housing and Urban Guarantee Corporation Promote Measures to Remedy and Prevent Jeonse Fraud Victims
Continued Financial Support Including 2%p Reduction in Loan Interest
Operation of Victim Prevention Education Also Underway

KB Kookmin Bank announced on the 5th that it has launched the ‘KB Jeonse Safety Program’ in collaboration with the Ministry of Land, Infrastructure and Transport and the Housing and Urban Guarantee Corporation (HUG) to provide relief and prevention for victims of Jeonse fraud.

The newly implemented ‘KB Jeonse Safety Program’ is a follow-up measure to the ‘Support for Jeonse Fraud Victims and Prevention Agreement’ signed by KB Kookmin Bank, the Ministry of Land, Infrastructure and Transport, and HUG in December last year. It was established to provide practical support for victims of Jeonse fraud and to promote win-win finance.

The ‘KB Jeonse Safety Program’ consists of a ‘Relief Program’ and a ‘Prevention Program.’ Under the ‘Relief Program,’ KB Kookmin Bank uses its donations to support the victim’s personal expenses for securing enforcement rights such as Jeonse deposit return lawsuits and fees for auction and public sale agency services. Support details and applications are available on the HUG Safety Jeonse Portal, and applications can also be made at the ▲Auction and Public Sale Support Center ▲Jeonse Victim Support Center ▲Housing and Urban Guarantee Corporation (HUG) branches.

Additionally, KB Kookmin Bank operates dedicated branches for Jeonse fraud victims in six regions: Seoul, Gyeonggi, Incheon, Busan, Daejeon, and Daegu, to provide specialized financial counseling. The bank also continues to offer a 2% point (p) interest rate reduction on new housing loans for Jeonse fraud victims, exemption of overdue interest on Jeonse loans, and a grace period for overdue information registration.

As part of the ‘Prevention Program,’ a prevention campaign using webtoons by the popular artist ‘Kikni’ is underway. On the 23rd of last month, a post titled ‘Jeonse Fraud Prevention Campaign, Kikni Draws to Prevent Damage!’ was published on Kikni’s Instagram account (@keykney), and stories of Jeonse fraud victims are being solicited until the 13th. Based on the submitted real victim stories, webtoons will be created to share cases of Jeonse fraud and introduce prevention methods, targeting especially vulnerable young adults.

Meanwhile, KB Kookmin Bank plans to operate Jeonse fraud prevention education for young adults in connection with the KB Financial Public Welfare Foundation and to promote Jeonse fraud prevention information nationwide by producing various content such as videos and leaflets. A KB Kookmin Bank official said, “This program was prepared to promptly support housing stability for victims struggling with Jeonse fraud,” adding, “We will continue to practice sharing and win-win finance for vulnerable groups and marginalized neighbors in our society.”

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