Preventing Jeonse Fraud Hurting Ordinary People... Pohang City and Related Agencies Join Hands!

Government Policy Sharing, Distribution of Promotional Materials, and Regular Meetings

Stable Real Estate Transactions ... Protection of Citizens' Property Rights

Pohang City has joined forces with related organizations to proactively address tenant damages caused by jeonse fraud and "empty jeonse" cases.

On the 24th, the city held a business agreement ceremony with the Pohang branch of the Korea Legal Aid Corporation, the Pohang branch of the Korea Judicial Scrivener Association, and the Nam and Buk District branches of the Korea Association of Realtors in Pohang to prevent jeonse fraud damages and protect tenants.

This agreement ceremony aims to proactively respond to jeonse fraud and empty jeonse cases recently occurring mainly in the Seoul metropolitan area, such as the "Villa King case" and the "Three Mothers Jeonse Fraud case." Through this agreement, the city plans to join forces with the four related organizations to prevent citizens' property damages and ensure housing stability.

Pohang City and the four organizations agreed to establish an organic cooperation system to prevent jeonse fraud damages by ▲ sharing government policies and jointly responding to unfair real estate transactions ▲ conducting rights analysis and consultations to prevent empty jeonse and jeonse fraud ▲ holding regular meetings to devise measures for citizens' housing stability.

Although there have been no reported cases of damage caused by jeonse fraud so far, the city plans to produce and distribute promotional materials related to lease contracts, provide telephone consultations, and conduct on-site consultations at universities, as the jeonse rate (jeonse price compared to sale price) is high, raising concerns about potential jeonse fraud damages.

Deputy Mayor Kim Nam-il stated, “Through this agreement, we will maintain continuous cooperation with related organizations to ensure that no citizens suffer damages from jeonse fraud. We will strive to prevent jeonse fraud and create a stable real estate transaction market, taking the lead in protecting citizens' property rights.”