Dongducheon Jungheung S-Class tenants face deposit risks amid developer rehabilitation

Tenants at the Jungheung S-Class Hera City in Dongducheon are facing uncertainty regarding their rental deposits and relocation plans following the commencement of rehabilitation proceedings for the developer, Woohyun Construction. The total rental deposit at stake is estimated at approximately 140 billion won, accounting for over 90% of the total claims.

Residents expressed concerns about whether they can move out by the contract expiration on March 31 next year. There are additional tensions regarding the developer's financial management, including reports of high salaries paid to founding family members despite a lack of revenue, and discrepancies in air conditioning installation costs. While Woohyun Construction's CEO indicated a potential freeze on the proposed 5% rent increase, tenants are demanding concrete guarantees for deposit returns and stable housing options.