Gwanak-gu: "Foreign Residents Can Safely Sign Real Estate Contracts Too"

Key Lease Agreement Checklist Translated into Five Languages
Easily Accessible via QR Code

Gwanak-gu, Seoul (District Mayor Park Junhee), announced on August 11 that, in response to the increasing number of registered foreign residents, it has translated and is providing a 'Key Lease Agreement Checklist' in five languages to help prevent real estate contract fraud.

According to Gwanak-gu, there are approximately 28,000 foreign residents in the district, and this number is increasing each year. Many of these residents are short-term stayers and lack experience with lease agreements, making them more vulnerable to fraud or disadvantages. In response, the district has produced the checklist included in the 'Gwanak-gu Safe Real Estate Contract' in Chinese, English, Vietnamese, Mongolian, and Japanese.

By scanning the QR code at the top of the contract with a mobile phone, users can check step-by-step requirements and essential items to verify before the contract, on the day of signing, and after payment and moving in, all in their chosen language. The translated versions are also available for download on the district office's website.

In March, Gwanak-gu, in cooperation with the Gwanak-gu branch of the Korea Association of Realtors, became the first in the country to introduce the Safe Contract to the national real estate transaction information network 'Hanbang.' By attaching a QR code to the contract, tenants can immediately access the checklist.

Park Junhee, Mayor of Gwanak-gu, stated, "We have expanded the safe contract service to ensure that foreign residents do not suffer disadvantages due to language or lack of information," adding, "We will do our best to guarantee housing stability and protect the property rights of all residents."