Gyeonggi Province has institutionalized the "Gyeonggi Safe Jeonse Project," the nation's first on-site prevention initiative against jeonse fraud conducted in collaboration with licensed real estate agents.
On July 24, Gyeonggi Province announced that the "Ordinance on the Prevention of Jeonse Fraud and Operation of the Safe Jeonse Management Team in Gyeonggi Province," proposed by Yoo Youngil, Vice Chairperson of the Urban Environment Committee, was passed at the 385th plenary session of the Gyeonggi Provincial Assembly on July 23.
This ordinance institutionalizes the "Gyeonggi Safe Jeonse Project," establishing an on-site, prevention-oriented system in cooperation with licensed real estate agents to block jeonse fraud from the contract stage.
The main contents include: ▲ establishing an institutional foundation for public-private partnership projects to prevent jeonse fraud; ▲ implementing the "Gyeonggi Safe Jeonse Project"; ▲ forming and operating the "Safe Jeonse Management Team"; and ▲ promoting the "Gyeonggi Safe Jeonse Gateway Guard Campaign," which is based on the voluntary participation of licensed real estate agents.
The Gyeonggi Safe Jeonse Gateway Guard Campaign is a public-private partnership campaign in which licensed real estate agents voluntarily participate to provide guidance on risk factors during the jeonse contract process and offer checklists to tenants, thereby carrying out preventive activities in advance.
The Safe Jeonse Management Team is an on-site, prevention-oriented organization operated in cooperation among Gyeonggi Province, cities and counties, and licensed real estate agents. It detects suspected fraudulent transactions early in the jeonse contract process and supports preventive activities together with real estate agents.
Son Imseong, Director of Urban Housing at Gyeonggi Province, said, "With the enactment of this ordinance, we expect the on-site prevention system to be activated and a culture of responsible brokerage among real estate agents to take root, which will effectively reduce damages from jeonse fraud."
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