The Ministry of Land, Infrastructure and Transport and the Korea Real Estate Board (REB) said on the 23rd that they had signed, in writing, a memorandum of understanding (MOU) to promote a project linking fixed-date information with five financial institutions: KakaoBank, Toss Bank, iM Bank Daegu Bank, the National Federation of Fisheries Cooperatives, and Suhyup Bank.
The fixed-date information linkage project is a follow-up measure to prevent jeonse fraud and support victims. It aims to prevent cases in which a tenant's deposit protection becomes vulnerable when a landlord obtains a senior mortgage loan before the tenant's opposability takes effect (midnight the day after filing a move-in report).
Currently, when executing a mortgage loan at 11 banks, lenders check fixed-date information provided in real time by the Real Estate Transaction Management System (RTMS) and execute loans by taking into account the tenant's deposit in the appraised value of the collateral.
With this MOU, the Ministry of Land, Infrastructure and Transport and these institutions expect that, as the project—previously limited to commercial banks and secondary financial institutions—expands to internet-only banks heavily used by young people, protection of deposits for vulnerable groups will be further strengthened.
The Ministry of Land, Infrastructure and Transport, the Korea Real Estate Board (REB), and the five financial institutions agreed to closely cooperate on building a dedicated linkage system to verify fixed-date information and on technical support for stable system operations. After a system linkage and stabilization period, provision of fixed-date information is scheduled to begin sequentially from institutions that complete linkage work starting in 2026. In addition, they plan to continuously expand additional linkages targeting insurers, regional banks, and others.
Kim Gyu-cheol, head of the Dwellings and Land Office at the Ministry of Land, Infrastructure and Transport, said, "With the addition of these five institutions to the 11 already linked, we expect that, through close collaboration with a total of 16 financial institutions, the supply of safer jeonse and monthly rentals for tenants will expand."