Kakao Pay Insurance disclosed subscriber data on the 9th to mark the first anniversary of the launch of its Jeonse and Monthly Rent Insurance. An analysis of data from the past year showed that demand to hedge against housing instability, including jeonse fraud, has spread widely beyond people in their 20s and 30s to those in their 40s.
By age group, people in their 30s accounted for the largest share at 47% of all subscribers, and those in their 20s (18%) combined with those in their 30s brought the total share of subscribers in their 20s and 30s to 65%. Notably, subscribers in their 40s also accounted for 25%, suggesting that the jeonse fraud issue is perceived as a real threat to all tenants regardless of age.
In terms of region, the greater Seoul area accounted for 79% of all subscriptions, with Seoul at 35%, Gyeonggi Province at 31%, and Incheon at 13%. This trend is similar to the distribution of regions where jeonse fraud victims have occurred, as announced by the Ministry of Land, Infrastructure and Transport, and is analyzed as reflecting continued demand for advance protection through insurance in areas where actual damage cases have been concentrated.
By deposit size, the 200 million to 300 million won range was the most common at 34%, and contracts with deposits of 300 million won or less accounted for 71% of the total, indicating a strong presence of lower- to middle-income housing subscribers. In particular, 84% of all subscribers chose the "Reassuring Type" product, which guarantees the full deposit amount, reflecting a preference for a "reliable safety net" that fully protects the deposit rather than focusing on small differences in premiums.
Kakao Pay Insurance's Jeonse and Monthly Rent Insurance has been drawing attention by precisely filling the blind spots that existing jeonse deposit return guarantees fail to cover. Both jeonse and monthly rent tenants can subscribe to this product, which provides coverage of at least 10 million won and up to 1 billion won for cases such as contracts with fake landlords, double contracts, establishment of a mortgage on the same day as the move-in report, forged certified copies of the real estate register, and document forgery by colluding real estate agents, thereby substantially addressing blind spots in jeonse fraud coverage.
Subscribers can choose between the "Economy Type," which covers only the down payment, and the "Reassuring Type," which covers the entire deposit including the down payment and the remaining balance, with premiums varying depending on the coverage amount. For example, the premium for the Economy Type that covers a 30 million won down payment is 41,300 won, while the premium for the Reassuring Type that covers a 100 million won deposit is 147,700 won, each payable just once at the time of subscription. Since August last year, the company has also launched the "Direct Transaction Jeonse and Monthly Rent Insurance," which can be used for direct real estate transactions concluded through online platforms such as "Danggeun" and "Peterpan's Good Room Search."
Kakao Pay Insurance stated, "As the jeonse fraud issue has persisted for a long time, tenants still feel significant anxiety during the housing contract process," adding, "We will continue to provide a practical safety net through insurance so that users can feel secure throughout the entire process from contract signing to contract termination."
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