After the Housing and Urban Guarantee Corporation (HUG) returned the jeonse deposit to the tenant instead of the landlord, the amount that the landlord did not receive reached 890.9 billion won, it was found. Of this, 72%, or 639.8 billion won, was found to be the debt of multi-homeowners, and it is pointed out that supplementary measures are urgently needed.
According to the ‘Status of Debt Default on Jeonse Deposits’ submitted by HUG by Jang Cheol-min, a member of the National Assembly Land Transport Committee, on the 20th, the amount of deposits that HUG did not get back from the lessor is increasing every year. From 5 billion won in 2018, it recorded 38.6 billion won in 2019, 122.6 billion won in 2020, and 356.9 billion won last year. This year, the unrecovered amount until July was 305.9 billion won. In the past five years, HUG’s bad debt has increased by 60 times.
So far, HUG has accumulated 1.64 trillion won of deposits paid on behalf of tenants who have signed up for the deposit return guarantee. Of this, more than half of 890.9 billion won (54.2%) might not be recovered.
HUG discloses the list of malicious debtors under the real name of corporations and anonymously by individuals. Among the defaulters, there are 4,052 individuals. There were 349 multi-homeowners who did not pay back more than two cases, and the amount they did not return amounted to 639.8 billion won. Multi-homeowners account for 71.8% of the HUG Jeonse Deposit liabilities. Park, 28, who owns 104 houses in her personal name, is not returning a deposit of 23.4 billion won to HUG. The deposits that 106 corporations defaulted on were 59.9 billion won. Of this, 9 billion won was investigated as a new developer P company established in 2020.
HUG can recover the payment if the deposit is not returned, but there are practical limitations. HUG collects bonds through an auction rather than collection or seizure according to the National Tax Act. However, there is a limit to the collection and investigation, and if the debtor disappears, it is difficult to check the property details, so the size of the default is gradually increasing. Rep. Jang argued, “It will inevitably act as a burden for HUG’s future guarantee fund management.
Reporter Park Jong-pil [email protected]
