South Korea recognizes 658 additional jeonse fraud victims

South Korea's Ministry of Land, Infrastructure and Transport announced that 658 additional cases were officially recognized as victims of jeonse (rental deposit) fraud in August. This brings the cumulative total of recognized victims to 40,936 since the enactment of the Jeonse Fraud Victim Support Act in June 2023.

Of the 658 newly approved cases, 627 were new applications and 31 were successful appeals regarding previous denials. During the same period, the committee reviewed 1,798 cases, rejecting 626 for failing to meet requirements and excluding 239 cases where deposits could be fully recovered through insurance or priority repayment systems.

To support those affected, the Korea Land and Housing Corporation (LH) has purchased 17,118 damaged housing units as of late August. The monthly average of housing purchases has increased to 716 units this year compared to 654 units in the second half of last year. The government is utilizing fast-track systems and coordinating with local courts to accelerate the process. Additionally, the Ministry and the Korea Housing & Urban Guarantee Corporation (HUG) are providing consulting services at eight prevention centers to help prospective tenants analyze property rights and contract terms before signing agreements.