How a person in their 20s owns dozens of villas... Revealing the 'Villa King Pajiseol'

As cases of the 'Villa King' owning dozens or hundreds of houses in the Seoul metropolitan area begin to emerge one after another, authorities are launching investigations into whether there was 'collusion.' There are ongoing claims that the Villa Kings revealed in the media are merely 'front men,' and the real entities are elsewhere.

The Metropolitan Investigation Unit of the Incheon Police Agency announced on the 5th that it has been assigned the case of the '20s Villa King' Mr. Song by the National Police Agency's National Investigation Headquarters on the 4th and has begun related investigations.

Mr. Song owned dozens of villas and officetels in the Michuhol-gu and Bupyeong-gu areas of Incheon through zero-capital gap investment, purchasing houses solely with jeonse deposit money without his own capital, but he passed away on the 12th of last month.

A police official stated, "Since Mr. Song, the person involved, has died, the investigation will focus on the villas he owned to determine whether there were accomplices," adding, "We plan to receive the case files soon and investigate the specific circumstances."

Although he was a registered rental business operator, he did not subscribe to the mandatory rental deposit guarantee insurance that rental business operators are required to join, and among the houses registered under Mr. Song's name, about 50 were subscribed to the jeonse deposit return guarantee insurance.

Public interest in the 'Villa King' began with the case of Mr. Kim (42), who bought 1,139 houses and committed jeonse fraud before dying at the end of last year.

Subsequently, it was revealed that second and third Villa Kings exist across the country. A common feature of these cases is that landlords like Mr. Kim, who rented out hundreds or dozens of villas, are suspected to be 'front men,' and there are strong indications of organized crime involving building owners, brokers, licensed real estate agents, and loan consultants colluding together. In fact, there were signs that transactions took place even three days after the Villa King passed away.