Mar 10 • 06:25 UTC 🇰🇷 Korea Hankyoreh (KR)

Tenant's Rights Against Landlords Established Upon Registration of Residence... Measures to Prevent Jeonse Fraud Announced

The South Korean government has announced measures to prevent jeonse fraud, establishing tenant rights to counteract landlords' potentially fraudulent actions during rental agreements.

The South Korean government has introduced new measures to prevent jeonse fraud, particularly aimed at protecting tenants during the process of registering their residence. Effective immediately, landlords will no longer be able to obtain bank loans to establish priority mortgages on properties if the tenant has registered their residence on that same day. This legislative change aims to close the gap that some landlords exploited by taking out mortgages just before tenants' rights came into effect, thereby putting the tenants' deposits at risk of being paid after mortgage obligations. The government plans to expedite the passage of a revision to the Housing Lease Protection Act, which will enshrine these protections into law. The proposal is currently under review in the National Assembly's Legislative and Judiciary Committee.

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