Gyeonggi-do Conducted Intensive Investigation on Jeonse Fraud Last Year... 99 People Including Licensed Realtors Referred to Prosecution
Gyeonggi Province announced on the 6th that it investigated 41 real estate agency offices involved in jeonse fraud last year and referred a total of 99 people to the prosecution for violating the "Real Estate Agent Act," including 54 licensed real estate agents and 45 assistant agents.
Gyeonggi Province analyzed and investigated the damage reports received by the Jeonse Damage Support Center and uncovered illegal activities at 41 businesses in six areas, including Suwon City. The identified real estate agents committed illegal acts by distributing brokerage fees to assistant agents at a certain ratio, effectively having them perform brokerage tasks. From 2021 to 2023, they brokered 644 cases and gained approximately 550 million KRW in unfair profits beyond the legal brokerage fees.
Key cases uncovered include ▲charging excessive brokerage fees under the pretext of housing management ▲brokering mainly properties difficult to lease and then charging excessive brokerage fees ▲assistant agents illegally brokering by lending the name of licensed real estate agents ▲falsely explaining that a mortgage was set on the entire property when it was only set on certain floors as joint collateral.
Son Imseong, Director of the Gyeonggi Province Urban Housing Office, stated, "We will mobilize all investigative resources to thoroughly investigate illegal brokerage activities by licensed real estate agents and assistant agents involved in jeonse fraud and ensure strong punishment is enforced. We will do our best to eradicate illegal acts by real estate agents and prevent jeonse fraud at the same time."
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Meanwhile, Gyeonggi Province is also conducting intensive investigations into illegal real estate speculation activities, such as obtaining permits through fraudulent means to acquire land within designated land transaction permission zones, and will announce the results in the first half of this year.
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