Jinju-si Conducts Public Awareness Campaign to Prevent Jeonse Fraud Targeting University Graduates

Real Estate Agency Guidance and Inspections Around University Areas
Conducted Alongside New Semester Preparations

Jinju City in Gyeongnam announced on the 17th that it is conducting promotional activities to prevent jeonse fraud targeting young workers by visiting university graduation venues within the city.

Starting from the 7th until the 25th, Jinju City, together with Gyeongsangnam-do and the Jinju branch of the Korea Association of Realtors, has formed a joint promotional team. They are carrying out jeonse fraud prevention campaigns at graduation ceremonies of Jinju Health College, Yeonam Institute of Technology, Jinju National University of Education, and Gyeongsang National University (Gajwa Campus, Chilam Campus), urging young workers to be cautious and distributing leaflets titled ‘Precautions for Jeonse Contracts’.

Promotion Activities to Prevent Jeonse Fraud Targeting University Graduates in Jinju City.

To prevent jeonse fraud, it is important to carefully check and confirm at each stage: ▲before signing the contract, verify whether the property is unauthorized or illegal, the appropriate market price, priority rights, and whether the landlord has any tax arrears ▲at the time of contract signing, confirm the landlord’s identity and whether the realtor is operating legally ▲after the contract, report the housing lease, register the move-in, check for any changes in rights on the registry, and subscribe to jeonse deposit insurance.

In addition, alongside this promotional activity, visits will be made to real estate agencies around university areas to inspect ▲excessive brokerage fees ▲unlicensed brokerage activities ▲whether sales contracts and property confirmation documents are properly prepared and stored, and to provide education to prevent illegal brokerage practices.

A Jinju City official stated, “We will continue our efforts through ongoing promotion and education to eradicate illegal brokerage activities and establish a sound real estate transaction order.”