Ministry Launches Planned Probe into 840 Suspected Illegal Real Estate Transactions by Foreigners

The Ministry of Land, Infrastructure and Transport announced today (September 23) that it has selected 840 suspected illegal real estate transactions by foreigners from among nationwide housing, non-housing, and land transactions reported between June of last year and July of this year, and has launched a planned investigation.

The investigation began last month and the results are scheduled to be announced by the end of this year.

In this investigation, in accordance with the Enforcement Decree of the Real Estate Transaction Reporting Act amended in February of this year, newly secured data such as proceeds from the sale of stocks, bonds, and cryptocurrencies, loans from overseas financial institutions, and residency status were utilized, along with newly established criteria for selecting suspected illegal transactions, resulting in a larger number of suspected transactions being filtered compared to 2025 (605 cases).

The Ministry is verifying the actual sources of funds, including overseas financing, for these transactions and is investigating illegal real estate activities by foreigners, such as the illegal introduction of foreign funds and visa-free rental businesses.

To ensure the effectiveness of preventing speculation within land transaction permit zones, the Ministry also plans to inspect whether actual residency obligations are being fulfilled in cooperation with local governments having jurisdiction, including the Seoul Metropolitan Government.

Shin Yoon-geun, Director General for Land Policy at the Ministry, stated, "We will thoroughly investigate illegal transactions and respond and deal with them sternly so that speculative real estate investments by foreigners do not negatively impact the establishment of a transparent real estate transaction order in our country."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.