LH purchases of jeonse fraud-hit homes top 10,000 units

The Ministry of Land, Infrastructure and Transport said Friday that the Jeonse Fraud Damage Support Committee held three plenary sessions in July, reviewing 1,476 cases and approving 609 as confirmed jeonse fraud victims. The decisions pushed Korea Land and Housing Corporation's total purchases of jeonse fraud-affected homes past the 10,000-unit mark.

Of the 609 approved cases, 563 were new applications, including reapplications, the ministry said. The remaining 46 were appeals against earlier rulings; after a review confirmed they met the eligibility criteria under Article 3 of the Jeonse Fraud Victims Act, they were recognized as jeonse fraud victims or equivalent.

Among the other 867 cases reviewed, 482 were rejected for failing to meet eligibility requirements, and 177 were excluded from the program because full deposit recovery was possible through guarantee insurance or priority repayment provisions. An additional 208 appeal cases were dismissed after being found still ineligible.

The cumulative number of jeonse fraud victims and equivalent cases recognized by the committee now stands at 40,278. The committee has also issued 1,212 decisions requesting cooperation on emergency auction deferrals. A total of 72,483 support services — covering housing, financial and legal assistance — have been provided to recognized victims.

Tenants who were not recognized as jeonse fraud victims, or who received a different designation, may file an appeal under Article 15 of the Jeonse Fraud Victims Act. Even if an appeal is dismissed, they may reapply if relevant circumstances change and seek recognition as a jeonse fraud victim.

As of the end of July, Korea Land and Housing Corporation had purchased 10,256 jeonse fraud-affected homes, with a monthly average of 752 units.

The ministry and the corporation are running purchase review meetings and a fast track process to accelerate acquisitions, and plan to continue coordinating with local district courts on auction proceedings to support residential stability.

Tenants affected by jeonse fraud may apply for victim recognition through the metropolitan or provincial government where they reside. Those recognized as victims through the committee's deliberations can receive detailed guidance on available support measures through Korea Housing and Urban Guarantee Corporation's jeonse damage and prevention support centers and branch offices.