Jeonse Fraud Victims Can Also Access Debt Consolidation Loans from Kookmin, Shinhan, Hana, and Nonghyup Banks

From now on, not only Woori Bank but also Kookmin, Shinhan, Hana Bank, and NongHyup will offer refinancing loans for victims of jeonse fraud.

The "refinancing loan" is a product that supports tenants who have been victims of jeonse fraud to switch to a lower-interest fund loan while continuing to reside in their existing jeonse home.

Tenants with an annual income of 70 million KRW (combined for couples) and a deposit of 300 million KRW or less, who have a Housing Finance Corporation (HF) guaranteed jeonse loan, are eligible for support.

Originally, the refinancing loan was scheduled to launch in May, but Woori Bank, which completed its system overhaul on April 24, launched it early and is currently operating it. Starting today, Kookmin and Shinhan Banks will also offer refinancing loans. Hana Bank plans to begin operations on the 19th, and NongHyup on the 26th.

A Ministry of Land, Infrastructure and Transport official stated, "We will strive to advance the refinancing of jeonse loans guaranteed by Seoul Guarantee Insurance (SGI) earlier than the originally planned July."