The government plans to investigate irregularities in subscriptions centered around major subscription complexes in the metropolitan area and release results in March to April. This comes amid rising concerns about irregular subscriptions following the subscription frenzy surrounding redevelopment complexes in Gangnam, Seocho, and Songpa last year.
According to the Ministry of Land, Infrastructure and Transport on the 11th, the government has been displaying a notice of 'intensive inspection of irregular subscriptions' on the Korea Real Estate Board's subscription home since the end of last year. The notice indicates that it will focus on illegal acts such as gaining subscription points through fraudulent transfers of direct ancestors in order to apply for special supply for caregivers of elderly parents.
Among the 127 disruptions to the supply order detected in the Ministry of Land, Infrastructure and Transport's inspections of irregular subscriptions in the first half of last year, 107 cases were investigated as fraudulent transfers.
For example, Person A fraudulently transferred his mother and mother-in-law living in Seoul to the APT. where he lives with his wife, daughter, and son in Goyang, Gyeonggi Province, at one-month intervals. He later applied for special supply housing for caregivers of elderly parents being offered in Paju, Unjeong New Town, and won the subscription. To apply for special supply for caregivers of elderly parents, it is necessary to have supported direct ancestors over 65 years old for at least three years continuously.
If irregular subscriptions are confirmed, this could lead to cancellation of subscription wins and police complaints. Violating housing law could lead to criminal penalties (imprisonment for up to three years or fines of up to 30 million won) and a 10-year subscription restriction.
A representative from the housing fund at the Ministry of Land, Infrastructure and Transport said, 'Concerns have been raised about the increase in instances of fraudulent transfer as the subscription market overheated, centered around redevelopment complexes in the three districts of Gangnam in the second half of last year,' and noted, 'We plan to announce the results of the comprehensive investigation into irregular subscriptions for complexes that were sold last year in March to April this year.'