Another Victim of Jeonse Fraud in Incheon Dies... 4 Tragedies in Three Months

A Victim in Their 40s in Michuhol-gu Takes Extreme Measures
Government and National Assembly Are Pushing for a 'Jeonse Fraud Special Act'

Amid the aftermath of a jeonse fraud case that occurred in the Michuhol-gu area of Incheon, where three young people made extreme choices, another victim took their own life.

According to the Michuhol Police Station in Incheon on the 24th, at around 10:16 a.m. that day, a man in his 40s, identified as Mr. A, was found dead inside a parked vehicle on a street in Michuhol-gu, Incheon.

The police received a report at around 9:47 a.m. from a colleague of Mr. A stating that "they could not get in touch with Mr. A," and while searching, they found him. A suicide note written by Mr. A was also found at the scene, but the specific contents have not been confirmed.

Investigations revealed that Mr. A was a victim who had not received his jeonse deposit back from Mr. B (61), a construction contractor known as the so-called 'Construction King.'

A police official stated, "Mr. A has been identified as a victim of jeonse fraud, but the exact reason for his extreme choice has not yet been confirmed."

With the death of Mr. A, the total number of deaths related to Mr. B has risen to four. Previously, in Incheon, three victims in their 20s to 30s who had not received their deposits back from Mr. B were found dead on February 28 and April 12 and 14.

There was also a case of a jeonse fraud victim found dead in Seoul. On the 8th, a woman in her 30s, Ms. C, was found dead in a villa in Mok-dong, Yangcheon-gu, Seoul. Ms. C was known to be a victim of the 'Villa King' Kim case, who died in October last year. Kim owned 1,139 housing units including villas and officetels, rented them out under jeonse, but failed to return the deposits to tenants and suddenly passed away.

‘Special Act on Jeonse Fraud’ Proposed... Interest-Free Loans for Priority Repayment up to 10 Years, etc.

Kim Min-ki, Chairman of the National Assembly Land, Infrastructure and Transport Committee, is striking the gavel at the plenary meeting of the Land, Infrastructure and Transport Committee held at the National Assembly in Yeouido, Seoul, on the morning of the 24th. [Image source=Yonhap News]

Meanwhile, a special bill to support victims of jeonse fraud passed the National Assembly standing committee on the 24th.

The core of the bill is to expand financial support for victims of jeonse fraud and for the government to provide auction and public sale agency services. The scope of application has been expanded compared to the original government proposal.

If recognized as a victim of jeonse fraud, interest-free installment repayment of jeonse loans is possible for up to 20 years. Provided that repayment obligations are met, registration of delinquency information and imposition of late fees are also exempted for 20 years.

In addition, the special law includes provisions such as ▲ apportionment of tax claims ▲ granting priority purchase rights to victims of jeonse fraud ▲ utilization of LH public rental housing.

※ If you need professional help for difficult issues such as depression, you can receive 24-hour counseling at the Suicide Prevention Hotline 1577-0199, Suicide Prevention Counseling Phone 1393, Hope Phone 129, Life Phone 1588-9191, Youth Phone 1388, and others.