Seoul Expands AI Jeonse Fraud Risk Analysis Report Service for Young People

The Seoul Metropolitan Government announced on March 24 that it will expand its “Jeonse Fraud Risk Analysis Report” service, which uses artificial intelligence (AI) to assess the risk of jeonse fraud by simply entering a home address, from the previous 1,000 cases to 300 cases.

Starting March 25, the city will provide the report to young people aged 39 and under who are planning to sign a lease agreement in Seoul. Each individual can use the service up to two times.

The city explained, “Since 81% of jeonse fraud victims are young people, we want to help them prevent damage by enabling them to check housing and landlord information in advance.”

The Jeonse Fraud Risk Analysis Report diagnoses potential risks by analyzing and predicting public data using AI. By entering only the property address, users can check a comprehensive risk score.

The system cross-analyzes 24 items, including 12 types of landlord information and 12 types of housing information, to assess the landlord’s financial soundness and stability. The results are presented as a comprehensive risk score.

Landlord information includes KCB credit score, history of default, debt service ratio (DSR), and records of delinquency or fraud. Housing information includes analysis of whether there is any violation of property rights, the amount of collateral compared to market value, and whether guarantee insurance has been purchased, among other factors.

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