Legislation and Judiciary Committee Approves Amendment to Extend Special Act on Jeonse Fraud by Two Years

Only Tenants with Initial Contracts Until the 31st of Next Month Are Eligible
Jeonse Deposit Accident History Can Be Checked Without Landlord's Consent
Amendment to the Housing and Urban Fund Act Also Passes the Legislation and Judiciary Committee

A bill to extend the enforcement period of the "Special Act on Support for Victims of Jeonse Fraud," which allows Korea Land and Housing Corporation (LH) to purchase homes affected by jeonse fraud through public or court auctions and use the profit to provide financial and housing support for victims, has passed the plenary session of the National Assembly's Legislation and Judiciary Committee.

The committee held a plenary session on this day and approved the amendment to the Special Act on Jeonse Fraud. However, the amendment stipulates that only tenants who signed their initial contracts by May 31 of this year will be recognized as victims eligible for the special law.

The Special Act on Jeonse Fraud is a temporary law that came into force on June 1, 2023, and is valid for two years. It grants victims the right of first refusal if the home they are residing in is put up for auction, and if they do not wish to purchase it, LH will acquire the property and lease it back to the victims, among other provisions.

Yonhap News

An amendment to the Housing and Urban Fund Act, which allows tenants to check the history of jeonse deposit guarantee accidents without the landlord's consent upon request, also passed the committee on this day.

Meanwhile, to prevent a recurrence of incidents like the Jeju Air passenger plane accident at Muan International Airport at the end of last year, an amendment to the Aviation Safety Act?which designates December 29 of each year as Aviation Safety Day and establishes a new qualification for professional air traffic controllers, among other measures?also passed the committee.