In Gyeonggi-do, a new service is being introduced that allows potential tenants to input a home's address, enabling artificial intelligence (AI) to analyze the risks associated with the rental property in real-time. This initiative is in response to high-profile rental scams, such as the 'Villa King' incident, that have affected numerous people across the country. The service aims to leverage AI technology to identify and mitigate potential risks before tenants enter into agreements, thus creating a safer environment for real estate transactions.

The Gyeonggi-do province announced on the 25th that it has begun development on an 'AI-based transaction safety net solution.' This solution will analyze various data points throughout the property transaction process including land registry, building permits, actual transaction prices, mortgage and trust information, among others. By consolidating this information, the AI system will provide a comprehensive risk assessment that allows for early detection and warnings of potential issues that would be difficult for tenants to verify on their own. Unlike past measures, which primarily focused on post-incident responses, this preventive digital safety net seeks to intervene early in the transaction process.

The project, backed by a KOSDAQ public solicitation that secured 1.2 billion KRW in government funding, has a total budget of 1.4 billion KRW. Gyeonggi-do plans to complete the development by June and initiate a pilot program in the second half of the year. The Gyeonggi provincial government will form a consultative body with relevant institutions such as the Ministry of Land, Infrastructure, and Transport and Korea Real Estate Agency to integrate public and private data effectively and discuss necessary legal and institutional improvements. This shift marks a significant change in the real estate transaction paradigm, emphasizing prevention and proactive risk management.