From now on, people will be able to easily identify risk factors for a listing on private real estate platforms before signing a jeonse contract.
The Ministry of Land, Infrastructure and Transport said it will sign a memorandum of understanding (MOU) on July 14 in Seoul for linking information to an integrated lease information system with the Korea Housing & Urban Guarantee Corporation (HUG), the Seoul Metropolitan Government, Gyeonggi Province, and real estate platform corporations including ZIGBANG CO., Dabang, Hanbang, KB Real Estate, and Naver Pay Real Estate.
The core of this agreement is to expand into the private sector the government's "priority-rights information-based risk assessment service," now under development to preemptively prevent jeonse fraud such as pocketing deposits. The goal is to build an initial cooperation framework, effectively putting in the first button for data linkage with popular private platforms.
As part of the "jeonse fraud prevention measures" the government released in March, the integrated lease information system brings together scattered real estate-related data in one place. It performs real-time, comprehensive analysis of certified copies of registers and fixed-date records from the National Court Administration, lease transaction and building information from the Ministry of Land, Infrastructure and Transport (MOLIT), tax delinquency status from the National Tax Service and the Ministry of the Interior and Safety, and credit data from the Korea Credit Information Services. Through this, when a prospective tenant enters an address, the system immediately derives the risk level of the dwellings and the landlord.
Specifically, it screens out high-risk properties where the deposit is likely to be unrecoverable by comparing the listing's market price with factors such as maximum collateral and the amount with top priority for repayment. It also provides indicators to indirectly assess the landlord's credit risk by comprehensively checking the landlord's history and eligibility for jeonse deposit return insurance, unpaid taxes, and loan arrears.
The service is scheduled to make its debut in September through HUG's "Safe Jeonse App." To further enhance accessibility and convenience, the plan is to significantly expand external linkage with private real estate applications (apps) and local government platforms by 2027.
The Ministry of Land, Infrastructure and Transport (MOLIT) will oversee future improvements to related systems and coordination among agencies, while HUG will take charge of technical operations such as building the practical system linkage network. Private platform corporations agreed to actively participate in expanding services to the public by developing and integrating systems tailored to each company's unique service format and analyzing user behavior patterns. The government and HUG plan to go beyond this agreement by holding briefings for other proptech corporations and local governments to continuously expand partners.
Kim Ei-tak, first vice minister of the Ministry of Land, Infrastructure and Transport (MOLIT), said, "For a government-built system to be genuinely helpful to the public and maximize its effectiveness, it is important to build an open ecosystem that can permeate not only public apps but also places people use frequently," adding, "Through this MOU, we will actively expand private-sector creativity and user touchpoints, and establish a foundation that allows people to more easily check the risk of jeonse fraud."