Changwon Special City Implements 'Jeonse Deposit Return Guarantee Fee Support Project'

Preventing Non-return of Jeonse Deposits
for Low-income Tenants

Changwon Special City in Gyeongnam will implement the ‘Jeonse Deposit Return Guarantee Fee Support Project’ starting from the 17th to prevent damages caused by the non-return of deposits to low-income Jeonse contract tenants.

Changwon Special City Hall, Gyeongnam.

This project is an expansion of the initiative first implemented by Changwon City in 2019, when it became the first in the nation to enact the 「Changwon City Jeonse Deposit Return Guarantee Fee Support Ordinance」. It has now been expanded into a nationwide government policy. Supported by 50% national funding from the Ministry of Land, Infrastructure and Transport, this project provides support for guarantee fees paid when subscribing to Jeonse deposit return guarantees through institutions such as the Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), and SGI Seoul Guarantee, aiming to prevent damages to vulnerable groups from Jeonse fraud.

The eligibility criteria include ▷ Jeonse deposit return guarantee subscription with a Jeonse deposit of 300 million KRW or less ▷ Changwon citizens who meet all conditions of being non-homeowners with an annual income of 50 million KRW or less for youth, 60 million KRW or less for non-youth, and 75 million KRW or less for newlyweds.

Last year, including national funding and the city’s own budget, Changwon City supported 535 cases amounting to over 1.18 billion KRW for Jeonse deposit return guarantees. This project, first implemented by Changwon City and later expanded nationwide, has become a well-established exemplary case.

This year, applications for support can be submitted online via the Gyeongnam Baro Service, and in-person applications are accepted at the Building Permit Division of the district office where the residence is located.

For more detailed information regarding the application, inquiries can be made through the Changwon City website’s public notice board and the Housing Policy Division.

Park Hyun-ho, Director of the Urban Policy Bureau, stated, “We expect that the Jeonse Deposit Return Guarantee Fee Support Project will protect vulnerable groups from Jeonse fraud,” and added, “We will continue to promote the support for Jeonse deposit return guarantee fees and make ongoing efforts to prevent Jeonse fraud damages.”