"Protecting the Dream of Homeownership" Yongin City Launches 'Regional Housing Cooperative Virtuous Cycle Management System'

Yongin City Cracks Down on False Advertising and Illegal Activities...
Blocking Citizen Damage at Its Source
Proactive Measures to Prevent Regional Housing Cooperative Disputes
Free Legal Consultation and One-Stop Illegal Banner Removal Service

On May 10, Yongin Special City in Gyeonggi Province announced that it has established and is now officially implementing a “regional housing cooperative virtuous cycle management system” to prevent citizen damage caused by the opaque operation and false or exaggerated advertising of regional housing cooperative projects.

A collection of damage cases involving local housing cooperatives published by Yongin Special City. Provided by Yongin City.

This initiative aims to “raise hope and reduce disputes” by establishing a proactive management system for all aspects of regional housing cooperative projects. The goal is to protect citizens’ property rights and enhance transparency in these projects.

Although regional housing cooperatives are operated directly by their members, many people have joined these cooperatives without fully understanding the risks, mistakenly believing them to be similar to standard apartment sales projects. As a result, repeated economic damage and disputes have occurred, including additional payment burdens and refund issues when projects are delayed or cancelled.

According to the city’s status report on regional housing cooperative projects as of March, 6 out of the total 14 project sites—accounting for 43%—remain at the member recruitment stage, prior to receiving establishment approval.

The city will strengthen promotion and information provision regarding regional housing cooperatives to prevent harm to citizens.

It will produce and distribute damage prevention guides and leaflets, and continuously release business overviews and progress updates of regional housing cooperatives on the city’s website. In particular, a “free legal consultation” service connecting citizens with professional lawyers will also be offered.

Crackdowns and inspections of false or exaggerated advertisements and illegal conduct will also be intensified.

The city will focus on inspecting advertisements that use major construction company brands before the contractor has been confirmed, promotional activities that exaggerate the completion of land acquisition, and advertisements specifying building and unit numbers that have not yet been finalized. If violations are detected, the city will immediately consider issuing corrective orders and filing complaints.

In addition, the city will collaborate with district offices to run a one-stop response system for illegal banners—patrolling, removal, and disposal—and conduct regular inspections of all project sites in both the first and second half of the year.

Proactive administrative guidance will also be provided in line with the Ministry of Land, Infrastructure and Transport’s direction for improving the regional housing cooperative system.

The city will recommend extending the withdrawal period for joining a cooperative from the current 30 days to 60 days, and will pre-screen the qualifications of work agency companies to block unqualified firms from entering the market.

A Yongin City official stated, “Since regional housing cooperatives are structured so that members are directly responsible for the project, it is crucial to fully understand the project structure and risks before joining. We will do our utmost to create a sound residential environment where citizens can feel secure, through regular inspections and transparent information disclosure.”

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