Actress Seo Hyun Jin has become the latest high-profile victim of jeonse (a unique housing rental system) fraud, a real estate scam that continues to impact tenants across South Korea.
According to court auction records released on June 3, Seo Hyun Jin filed for a forced auction after failing to recover her 2.6 billion KRW (approximately $1.9 million) deposit for a villa located in Cheongdam-dong, Gangnam District, Seoul. She initially signed a jeonse contract for 2.5 billion (approximately $1.8 million) in April 2020 and renewed it in 2022 with an increased deposit of 125 million (approximately $89,000).
When the renewed contract expired in April 2024, the villa’s owner did not return the deposit. As a result, Seo took legal action, registering a tenant's leasehold right through the court in September 2024 and moved out of the property.
The villa was appraised at 2.874 billion KRW (approximately $2.05 million), but after a failed first auction attempt, the minimum bid was lowered to 2.299 billion KRW (approximately $1.64 million). The next auction is scheduled for June 17. Seo Hyun Jin will only be able to recover the full amount of her deposit if the winning bid exceeds 2.6 billion KRW (approximately $1.86 million).
She has since relocated to an apartment in Oksu-dong, Seoul. This property was purchased under her name in 2018 for 1.5 billion KRW (approximately $1.07 million) in cash.
This case highlights the growing threat of jeonse fraud in South Korea and the need for stronger legal protections for tenants, even those with high public profiles.
SEE ALSO: Seo Hyun Jin reportedly a victim of 2.6 Billion KRW (~1.9 Million USD) rental fraud
SHARE
