"Won Subscription Through Needle's Eye...Oops" 1 in 10 Cancelled Due to Entry Errors

Assemblywoman Yang Kyung-sook: "Housing Act Must Be Amended to Prevent Cancellations Due to Minor Input Errors"

According to Yang Kyung-sook, a member of the Democratic Party of Korea, on the 16th, one out of ten winners of the housing subscription for the non-homeowners entered the subscription conditions incorrectly, resulting in their winning being canceled. The photo shows people receiving consultation related to the subscription for public rental housing of the jeonse type. [Image source=Yonhap News]

[Asia Economy Reporter Onyu Lim] It has been revealed that 1 out of 10 winners of the housing subscription for the non-homeowners was disqualified due to incorrect input of subscription conditions despite winning.

According to data submitted by Kyung-sook Yang, a member of the Democratic Party of Korea, from the Korea Real Estate Board on the 16th, there were a total of approximately 1,099,400 cases of non-homeowner subscription winners over the past five years, of which about 112,500 cases, or 10.2%, were notified of cancellation due to 'ineligibility.'

The most common reason was errors in subscription scoring (71.3%), meaning that the eligibility criteria were misunderstood or input errors occurred. This was followed by restrictions on re-winning (12.9%), duplicate subscriptions among members of non-homeowner households (5.4%), and limits on the number of special supply subscriptions (4.7%).

If deemed 'ineligible,' subscription opportunities are restricted for one year in the metropolitan area and speculative/overheated subscription districts, and up to six months in other regions.

According to Yang Kyung-sook, a member of the Democratic Party of Korea, on the 16th, one out of every ten winners of the housing subscription for non-homeowners was disqualified after winning due to incorrectly entering the subscription conditions.

To minimize cancellations due to such mistakes, Representative Yang proposed a 'Housing Act Amendment' that automatically provides related information such as eligibility for residence, re-winning restrictions, and supply ranking.

Representative Yang emphasized, "In the fierce competition for housing subscriptions to achieve the dream of 'owning a home,' cases where opportunities are lost due to minor input errors or mistakes must be eliminated."