In the 414th National Assembly (Extraordinary Session) held at the National Assembly in Yeouido, Seoul on the 28th, the amendment bill on support for victims of lease fraud and housing stability was passed with 170 out of 170 votes present. The amendment bill proposed by the Democratic Party of Korea was approved during the 2nd plenary session. The bill includes provisions for supporting victims of lease fraud and ensuring housing stability. It introduces a program called ‘pre-arrangement and recovery’ where institutions like the Korea Housing Guarantee Corporation (HUG) utilize the housing city fund to prioritize repayment to victims using public funds and later recover debts through collection and sales. If necessary, it also includes provisions for purchasing third-party priority claims ahead of lease deposit repayment claims.
Following the passage of the special law, Minister Park held a briefing at the Seoul Government Complex, expressing regret for the one-sided processing of the amendment bill without sufficient consensus or broad social support. The Minister highlighted the difficulties in fairly evaluating the opposition’s amendment bill and its practical execution challenges. He also pointed out the issue of using housing city fund as debt funds for direct deposit protection.
Minister Park further stated that if the proposal of the Ministry of Land, Infrastructure, and Transport is accepted, President Yoon would exercise his veto power for the 11th time. The Presidential Office announced that it plans to reject the government’s alternative bill due to concerns over difficulties in debt evaluation, potential losses in the housing city fund, and the resulting impact on government finances.