Gyeonggi-do, 85 Cases of Illegal Real Estate Brokerage Transactions Detected

Gyeonggi Province has uncovered 85 cases of illegal activities in real estate brokerage transactions.

On the 20th, Gyeonggi Province announced that it had identified 85 illegal acts at 78 businesses after inspecting 511 licensed real estate agents who had brokered properties at least once through the Jeonse Damage Support Center.

Previously, from October 21 to December 13 last year, Gyeonggi Province conducted a special inspection jointly with city and county governments. The inspection targeted a total of 511 licensed real estate agents, including 444 who had brokered properties at least once through the Jeonse Damage Support Center and 67 selected based on areas with a high concentration of newly built villas within the province.

Gyeonggi Provincial Government

Gyeonggi Province confirmed 85 illegal acts at 78 locations and referred 12 cases for investigation, including 10 cases where brokerage fees exceeded the legal limit during lease contract brokerage. Additionally, one case that failed to meet registration standards resulted in license cancellation; 23 cases involving improper or unfiled contract documentation and unreported brokerage assistants received business suspension; the remaining cases were subject to fines (21 cases) and warnings or corrective actions (27 cases).

Lee Gye-sam, Director of the Urban Housing Office of Gyeonggi Province, stated, "Gyeonggi Province and local governments will continue inspections and will strictly punish any licensed real estate agents involved in Jeonse fraud." He added, "To prevent Jeonse damage, we established the Safe Jeonse Management Group in 2024 together with 30,000 licensed real estate agents in Gyeonggi Province, and we believe these efforts will play a significant role in protecting residents’ safe Jeonse leases."

Meanwhile, since February 2023, Gyeonggi Province has conducted five rounds of special inspections targeting 1,879 brokerage offices suspected of involvement in Jeonse fraud, uncovering 424 illegal acts at 304 offices (16.2%).