Support covers legal costs for securing enforcement titles and auction agency fees

HUG President Choi In-ho (left) and officials pose for a photo at the MOU signing ceremony held Wednesday. [HUG]
HUG President Choi In-ho (left) and officials pose for a photo at the MOU signing ceremony held Wednesday. [HUG]

Korea Housing Finance Corp. (HUG) said Wednesday it signed a renewed MOU with the Ministry of Land, Infrastructure and Transport and KB Kookmin Bank to expand support and prevention efforts for jeonse fraud victims.

The agreement extends a pact the three institutions first signed in December 2023 to broaden support for jeonse fraud victims and prevent further cases.

Under the renewed deal, KB Kookmin Bank will contribute an additional 3 billion won ($1.98 million), which HUG will use to continue covering legal costs incurred by jeonse fraud victims. The funding is expected to help victims navigate auction and public sale procedures more smoothly, strengthening their path to recovery.

Victims officially recognized as jeonse fraud victims can receive retroactive reimbursement for costs paid before receiving that designation — including fees for payment orders and deposit-return lawsuits filed to secure enforcement titles — and will have all legal professional fees for auction agency services covered in full. HUG has supported approximately 7,600 cases to date to help applicants recover from their losses.

Applications for cost support can be submitted through the Anshim Jeonse Portal or at jeonse damage and prevention support centers, where additional legal consultations are also available upon request.

"Securing stable housing for the public means protecting a fundamental right directly tied to people's survival — it is HUG's mission and reason for being," HUG President Choi In-ho said. "We will continue working closely with the Ministry of Land, Infrastructure and Transport and related agencies to deliver tangible recovery for victims and sustain prevention efforts to eradicate jeonse fraud, in pursuit of the national goal of building a robust and comprehensive residential welfare system."

Meanwhile, the cumulative number of jeonse fraud victims officially recognized by the Jeonse Fraud Victim Support Committee has reached 39,121 cases. Of those, 97.6 percent involved deposits of 300 million won or less, and 60.6 percent of approved cases were concentrated in the Greater Seoul area. Daejeon accounted for 11.2 percent and Busan for 10.3 percent.


hss@heraldcorp.com