Guaranteed one-third of the deposit for victims of rental fraud... Advance application from the 10th

If the deposit returned by a victim of rental fraud through an auction is less than one-third of the total deposit, the government provides cash support for the shortfall.

The Ministry of Land, Infrastructure and Transport announced on the 9th that it will implement a 'minimum guarantee system' to support minimum damage recovery for victims of rental fraud starting on the 13th, and that advance applications for subsidies will be accepted from the 10th through the Korea Land and Housing Corporation (LH).

The minimum guarantee system is a system introduced in accordance with the Jeonse Fraud Victims Act, revised and promulgated last May, and consists of a 'minimum support amount' and a 'prepayment/later settlement' system for victims of unauthorized contracts such as trust fraud.

The minimum subsidy is a system that pays the difference in cash if the amount recovered by a victim of a rental fraud through auction or public auction dividends, landlord repayment, and existing support is less than one-third of the rental deposit.

The damage recovery amount includes auction and public auction dividends, amounts returned from landlords, etc., LH's auction profit support amount, and rental financial support amount. For example, a victim who recovers 10 million won as auction dividends out of a deposit of 100 million won can receive an additional 23.33 million won if there is no other damage recovery money.

The 'payment in advance and settlement later' system is a system in which one-third of the deposit is paid to victims of trust fraud or other cases of concluding a lease contract with a person without legitimate rental authority, even before the end of the auction or public auction.

The previously recovered amount or rental financial support amount is deducted, and if a profit is generated through LH's purchase of a damaged house after advance payment, additional payment can be made for settlement.

If LH purchases a damaged house, the minimum subsidy can be applied after the auction margin calculation is completed. In addition, applications can be made after the auction or public auction of the damaged house has been completed, and victims whose auction or public auction has ended before the system is implemented are also eligible for support.

Advance payment can be applied for even before the auction or public auction ends.

Applications can be made online through LH Subscription Plus from the 10th, and on-site applications will also be accepted at LH regional headquarters from the 13th. Detailed information can be found in the LH Subscription Plus announcement or at the LH Call Center (☎1600-1004).