A residential area in Gangseo-gu, Seoul, where multi-unit·multi-household housing is concentrated. Han Su-bin, reporter

Public purchases of homes affected by jeonse fraud implemented by Korea Land and Housing Corporation (LH) reached 995 units last month, the highest monthly total.

The Ministry of Land, Infrastructure and Transport announced on the 6th that during March it held three plenary meetings of the Jeonse Fraud Victim Support Committee and designated 698 people as jeonse fraud victims. Of these, 654 were new applicants, and 44 were cases in which objections to prior decisions led to additional confirmation that the victim criteria were met.

As a result, since the Jeonse Fraud Victim Act took effect in June 2023, the cumulative number of victims has reached 37,648. The recognition rate compared with all applications is 61.6%. 21.8% were rejected for failing to meet the requirements, and 9.8% were excluded because deposit recovery was possible through guarantee insurance, first-priority repayment, or auction.

Public purchases of affected homes are also expanding rapidly. In March alone, LH purchased 995 units, the largest monthly total since the system was introduced in 2024. The average monthly purchases in the first quarter of this year were 884 units, more than double the monthly average of 409 units last year. The cumulative number of homes purchased to date is 7649 units.

Under this approach, public housing operators such as LH receive the right of first refusal held by victims, purchase the homes through court or public auctions, and then supply them as rental housing. Victims may convert the auction gain created when the winning bid is lower than the normal purchase price into their deposit and can reside in the home for up to 10 years; when they move out, they receive that gain.

As of the end of last month, there had been 21,588 requests from victims for prior consultation on purchases, and 14,473 of these were reviewed as cases eligible for purchase. The government plans to increase the pace of public purchases and support housing stability for victims through measures such as a fast track that shortens the acquisition process and the continuation of district court auctions.