DistantNews
Support us
🇰🇷 South Korea /Crime & Justice

South Korea Integrates Real-Time Data to Combat Jeonse Fraud

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • The Korea Real Estate Board and the Housing & Urban Guarantee Corporation (HUG) will link real-time confirmed date information to prevent "jeonse" (lump-sum deposit) fraud.
  • Starting next month, tenants can check the confirmed date information for their rental properties through the "Safe Jeonse App."
  • This integration aims to provide tenants with easy access to information about the validity of their deposit protection, including when their preferential right to claim the deposit takes effect.

To combat the growing problem of "jeonse" (lump-sum deposit) fraud, the Korea Real Estate Board and the Housing & Urban Guarantee Corporation (HUG) are enhancing information sharing. Starting next month, tenants will be able to access crucial confirmed date information for their rental properties directly through the "Safe Jeonse App."

The Korea Real Estate Board announced on July 12 that it is collaborating with HUG on a project to link confirmed date information. This initiative is a core component of an integrated rental information system designed to allow users to view various housing lease-related data from multiple institutions in one place via the Safe Jeonse App.

The Korea Real Estate Board will provide HUG with real-time confirmed date information for tenants.

— Korea Real Estate BoardExplaining the data sharing mechanism between the two organizations.

The Korea Real Estate Board will provide HUG with real-time confirmed date information for tenants. HUG will then use this data, along with resident registration information, within the Safe Jeonse App to inform tenants about whether their preferential right to claim their deposit has taken effect and when. This means tenants will no longer need to visit administrative offices like community centers to verify this critical information.

Tenants will be able to easily check when their preferential right to claim their deposit takes effect by viewing the confirmed date and resident registration information on the Safe Jeonse App.

— Korea Real Estate BoardDescribing the benefit for tenants using the updated Safe Jeonse App.

This development follows the Ministry of Land, Infrastructure, and Transport's announcement in June regarding the revamp of the Safe Jeonse App. A task force involving nine institutions and 15 departments has been working to integrate 57 types of information, including real estate registration, confirmed dates, and tax delinquency. The app is expected to offer a diagnostic service by September, categorizing rental risks into three levels: "Safe," "Caution," and "Risk."

This enhanced transparency aims to empower tenants by providing them with readily accessible information, thereby strengthening their ability to protect their deposits and avoid fraudulent schemes.

The app is expected to offer a diagnostic service by September, categorizing rental risks into three levels: 'Safe,' 'Caution,' and 'Risk.'

— Ministry of Land, Infrastructure, and TransportOutlining future features of the Safe Jeonse App to assess rental risks.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog