Banks Support Loan Extensions for Jeonse Fraud Victims

by Kwon Hyeonji

Published 14 Apr.2023 11:17(KST)

Publication of a Casebook on Loan Extensions with HF, SGI, HUG, etc.

On the 14th, the banking sector announced plans to strengthen support for victims of jeonse fraud, including extending jeonse loan terms.

The Korea Federation of Banks held a meeting among banks regarding jeonse fraud victims and discussed support measures.

First, they will assist affected tenants in extending their jeonse loans. Employee training will be enhanced to ensure that consultations and guidance on jeonse loan extensions are provided at bank branches and call centers. They plan to utilize a casebook on jeonse loan extensions prepared in collaboration with jeonse loan guarantee institutions such as the Housing Finance Corporation (HF), SGI Seoul Guarantee, and the Korea Housing & Urban Guarantee Corporation (HUG).

Coordination with related organizations, including the Jeonse Fraud Support Center, will also be strengthened. Consultation cases and difficulties reported to the center will be shared with the banking sector to develop improvement measures and promptly provide information to tenants who have been victims of fraud.

Additionally, they decided to postpone the registration of delinquency information for jeonse fraud victims and participate in the Ministry of Land, Infrastructure and Transport’s pilot project to prevent jeonse fraud.

Banks Support Loan Extensions for Jeonse Fraud Victims