Gwangju City, Caution for Recruiting Cooperative-type Private Rental Housing, etc.

Special Caution Urged for Recruitment of Private Rental Housing Association Members in Ssangryeong-dong Urban Development Project Area

Gwangju City Hall in Gyeonggi Province.

Gwangju City in Gyeonggi Province announced on the 1st that it urges special caution regarding the recruitment and promotion of cooperative members related to private rental housing, including cooperative-type housing.

According to the city, there are concerns that victims may arise in the future as sales promotions, such as recruiting sales agency staff for private rental housing, have been conducted despite the fact that plans have not been finalized in connection with the Ssangryeong-dong area urban development project.

In particular, in the case of the Ssangryeong-dong area urban development project, due to the nature of the project being a land readjustment method, construction land rights within the project area arise at the time of approval of the land readjustment plan. Therefore, caution is needed regarding sales promotion and recruitment activities while the area has not yet been designated.

A city official stated, “If cooperative members are recruited as investors through exaggerated or false advertisements about an unconfirmed project in any form, administrative agencies cannot provide legal protection in case of damages caused by project delays or cancellations. There may be damages such as loss or non-return of investment funds, so it is necessary to collect sufficient information and conduct a thorough review of the overall project plan,” urging caution.

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