On the 2nd of next month, the Real Estate Ministers' Meeting will announce measures against 'Jeonse fraud'

[Asia Economy Reporter Kim Min-young] The government will announce measures to prevent jeonse fraud through a joint meeting of related ministries.

[Image source=Yonhap News]

According to the Ministry of Economy and Finance on the 30th, the government plans to hold a real estate-related ministers' meeting at the Government Seoul Office on the 2nd of next month, chaired by Deputy Prime Minister for Economy Choo Kyung-ho.

The meeting will be attended by Deputy Prime Minister Choo, Minister of Land, Infrastructure and Transport Won Hee-ryong, Minister of Justice Han Dong-hoon, Commissioner of the National Police Agency Yoon Hee-geun, and others to discuss measures to eradicate jeonse fraud.

This action comes in response to the recent surge in tenant damages due to repeated occurrences of jeonse fraud, including the 'Villa King Incident.'

According to the Ministry of Land, Infrastructure and Transport, there were a total of 5,443 cases of jeonse deposit return guarantee claims nationwide last year.

Meanwhile, Minister of Land, Infrastructure and Transport Won Hee-ryong announced the previous day that a zero-tolerance policy, such as 'license revocation' (one-strike-out), will be pursued against real estate agents suspected of jeonse fraud.