[Economy 365]
The number of victims of jeonse fraud continues to rise.
The Ministry of Land, Infrastructure and Transport announced that it recognized an additional 548 people as victims of jeonse fraud last month.
Since the enforcement of the Special Act on Jeonse Fraud Victims in 2023, the cumulative number of official victims has reached 39,669.
As of the end of June, the number of homes affected by jeonse fraud purchased by the Korea Land and Housing Corporation (LH) has increased to 9,707 units.
Victims can continue to reside in the affected properties for up to 10 years by converting the auction profit into a security deposit.
There have been 23,019 cumulative requests from victims for the advance purchase of affected properties, and 67.8% of these cases have been reviewed and deemed eligible for purchase.
Starting this month, victims with joint collateral can also receive auction profits first for properties where the auction process has been completed.
In addition, a system will be implemented starting this November to guarantee that recovery funds cover at least one-third of the rental security deposit.
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