Jeonse fraud 'minimum guarantee' takes effect 13 November — shortfall below one-third of deposit to be covered
Source material is a Korean government announcement (in Korean).
If a jeonse fraud victim recovers less than one-third of the lease deposit through auction or public sale, the shortfall can be supported from 13 November (minimum guarantee).
Key facts
| Effective date | 13 November |
|---|---|
| Minimum guarantee | If recovery after auction or public sale is under one-third of the lease deposit, the shortfall is supported |
| Pay first, settle later | Tenants harmed by trust fraud and similar cases receive a set amount before the auction or public sale ends |
| Example | Deposit 150 million won, recovery 30 million won: the 20 million won gap to the 50 million won minimum guarantee is paid additionally |
| Handling body | Payment and settlement work entrusted to the Korea Land & Housing Corporation (LH) |
| Deadlines and appeals | Decision notified within 90 days of application (extendable once by up to 30 days); appeal within 30 days of notice |
| Inquiries | Ministry of Land, Infrastructure and Transport, Victim Support Division, 044-201-5234 |
Last checked:
From 13 November, a 'minimum guarantee' system takes effect: if a jeonse fraud victim recovers, through auction or public sale, less than one-third of the lease deposit, the shortfall is supported. A 'pay first, settle later' system is also introduced, giving tenants harmed by trust fraud and similar cases a set amount before the auction or public sale ends. On the 6th the Ministry of Land, Infrastructure and Transport had the Cabinet approve a partial amendment to the Enforcement Decree of the Special Act on Support for Jeonse Fraud Victims and Housing Stability, and the payment and settlement work was entrusted to the Korea Land & Housing Corporation (LH).
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
How is the minimum support amount calculated?
It is one-third of the lease deposit (the minimum guaranteed amount) minus amounts received by exercising opposing power or priority repayment rights, amounts repaid through the deposit return claim, and auction gains and rent support.
What documents are needed to apply?
Applicants must submit the victim determination, a copy of the lease contract, an extract of the resident registration, the full certificate of registered matters for the damaged home, the distribution table or allocation statement, and documents on repayment of the deposit return claim.