Revised Lease Fraud Special Act: Where Are the Fundamental Solutions?
After prolonged negotiations, the ruling and opposition parties have agreed on amendments to the Lease Fraud Special Act. After prolonged negotiations, the ruling and opposition parties have agreed on amendments to the Lease Fraud Special Act. While the scope of victim support and victim recognition has been expanded, there are concerns that crucial fraud prevention measures are missing. This post will examine the main points of the revised act and why fundamental solutions might have been overlooked. After extensive discussions, the ruling and opposition parties have reached an agreement on the amendments to the Lease Fraud Special Act. The key elements of the revised act include: LH (Korea Land and Housing Corporation) buying the affected properties at auction and directly providing the difference between the appraisal value and the auction price to the victims, or converting the auctioned properties into public rental housing, allowing victims to live rent-free for up to 10 years. T...