Minister of Land, Infrastructure and Transport Won Hee-ryong emphasized that he would investigate all brokers suspected of participating in charter fraud and punish them according to the principle of zero tolerance.

On the morning of the 29th, Minister Won visited the office of a realtor in Hwagok-dong, Gangseo-gu, Seoul, and said, "I heard the shocking news that the agency that arranged chartered houses is still attracting common people tenants through illegal activities."

Minister Won announced that he would revoke the qualifications of malicious brokers discovered through a thorough investigation, and asked the association to make self-cleaning efforts so as not to lead to distrust in the real estate brokerage industry as a whole.

At the same time, we requested that local governments thoroughly manage and take firm administrative measures against rental businesses that abuse the mandatory purchase of guarantee insurance to engage in charter fraud.

As an additional countermeasure against charter fraud, Minister Won said he would announce a government-wide comprehensive plan to prevent charter fraud early next month.

Comprehensive measures will include crackdown on charter fraud, support measures, and improvement of institutional vulnerabilities in the entire lease contract process.

(Photo = Yonhap News)