Busan City Launches Early Implementation of 'Jeonse Damage Tenant Housing Stability Support Fund' Program... Largest Scale Support Nationwide

Applications start from the 16th... City and City Council Construction Committee to advance consultation schedule

Mayor Park Hyung-jun, "We will provide thorough support for the victims' difficulties"

Busan City has integrated the previously low-application-rate "Financial and Housing Support Project for Jeonse Fraud Victims" relocation cost support into a newly established “Jeonse Fraud Victim Tenant Housing Stability Support Fund” and will begin early implementation from the 16th.

The city originally planned to accept applications for the “Jeonse Fraud Victim Tenant Housing Stability Support Fund” starting February 2025. However, ▲ during the 7th Administrative Audit of 2024, the City Council’s Construction and Transportation Committee (Chairman Kim Jae-woon) urged that “support is needed as soon as possible to reduce the economic burden and stabilize housing for victims,” and ▲ the city also judged that prompt support was necessary considering the continuous increase in jeonse fraud victims. Therefore, the city and the City Council’s Construction and Transportation Committee agreed to start accepting applications from the 16th.

Additionally, to enable victims to apply for the support fund quickly, individual notification messages will be sent to those who have been officially recognized as jeonse fraud victims after the project announcement.

The city has set the housing stability support fund at 1.55 million KRW per person, the largest scale nationwide. This amount considers victims’ relocation costs, housing stability support, and maintenance and management expenses for jeonse fraud-affected housing. A total budget of 3.875 billion KRW has been allocated to provide support to 2,500 victims.

Initially, the city prepared a budget of 3.75 billion KRW (1.5 million KRW per person), the largest nationwide, but the City Council’s Construction and Transportation Committee requested additional support for housing maintenance costs, securing an extra 50,000 KRW per household.

Furthermore, the eligibility criteria have been significantly relaxed so that all victims suffering from jeonse fraud can benefit.

The support conditions are based on the “Special Act on Support and Housing Stability for Jeonse Fraud Victims.” Eligible applicants must be officially recognized as jeonse fraud victims and meet the following: ▲ the jeonse fraud-affected housing is located in Busan City, and ▲ the applicant is currently registered as a resident in Busan City. There are no separate income or housing requirements.

Overlap with the “Monthly Rent and Loan Interest Support Project” is allowed, but beneficiaries of the existing “Jeonse Victim Tenant Relocation Cost Support Project” are excluded.

Although the city’s ongoing “Financial and Housing Support Project for Jeonse Fraud Victims” is the largest nationwide, providing up to 9.6 million KRW over two years, many victims have been unable to receive support due to unmet loan or relocation requirements. It is expected that the majority of victims will be able to receive support through this new “Jeonse Fraud Victim Tenant Housing Stability Support Fund.”

The project will be implemented temporarily in 2025, with applications accepted until the end of November next year.

Applications for the housing stability support fund can be made through the Bojogeum24 website or at the city’s Jeonse Fraud Victim Support Center (1st floor of City Hall).

Detailed information can be found on the Jeonse Fraud Victim Support bulletin board on the city’s website.

To expand practical support for victims, the city has been promoting projects such as ▲ legal and psychological counseling for jeonse fraud victims, ▲ Busan-style financial and housing support, and ▲ proxy services for ownership transfer registration for jeonse victim tenants, as well as conducting ▲ outreach education on jeonse fraud prevention, striving to support and prevent jeonse fraud.

Mayor Park Hyung-jun said, “I hope this housing stability support fund will provide some help in stabilizing the housing situation of jeonse fraud victims,” adding, “We will continue to monitor the difficulties faced by jeonse fraud victims and provide thorough support.”

Busan City Hall.

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