Changwon Special City Says 'No More' to Jeonse Fraud Targeting Youth and Newlyweds

Special Inspection of Real Estate Agencies Near Universities

[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] Changwon Special City in Gyeongnam Province will conduct a special inspection of real estate agencies around universities preparing for the new semester, newly built villas, and small apartments until the 28th to prevent jeonse fraud targeting young adults and newlyweds in advance.

This special inspection aims to preemptively block illegal activities that disrupt the real estate market, such as jeonse fraud incidents like the Villa King case, by checking for illegal brokerage practices by real estate agents. Additionally, a jeonse fraud prevention campaign will be conducted simultaneously, including distributing checklists containing essential items that citizens must verify when signing jeonse contracts.

Changwon Special City Hall, Gyeongnam.
Photo by Se-ryeong Lee

The city, in cooperation with district offices and the Gyeongnam branch of the Korea Association of Realtors, will focus inspections on brokerage offices near one-room complexes around universities preparing for the new semester, newly built villas, and small apartments within the jurisdiction. If any violations are found, the city plans to fully block illegal transactions and brokerage activities through strong legal actions.

Lee Jae-kwang, Director of the Architecture and Landscape Division, stated, “We will do our best to prevent jeonse fraud so that social beginners and newlyweds, who are vulnerable to damage, do not suffer losses by establishing a sound real estate transaction order.”