Democratic Party lawmaker Kim Ju-young (Gimpo Gap) said on the 17th that he introduced, as lead sponsor, a bill to partially amend the Local Tax Special Cases Restriction Act. The proposal would extend local tax relief measures by two years to support housing stability and recovery for victims of jeonse fraud (fraud involving Korea's lump-sum rental deposit system).
Under current law, the Act for Victims of Jeonse Fraud provides several local tax benefits: it reduces acquisition tax for individuals recognized as victims who acquire the affected property, exempts registration-and-license tax for leasehold registrations, and lowers acquisition tax when public housing operators acquire those properties.
Those measures are currently scheduled to expire on Dec. 31, 2026, and advocates have argued that victims still facing hardship require continued protection.
The amendment would extend the application deadline for these local tax relief measures by two years, until Dec. 31, 2028.
Kim said, "For young people and low-income, unhoused renters, jeonse fraud is a severe crisis that not only creates housing instability but also disrupts their ability to plan for the future. The National Assembly will take responsibility for strengthening the system to secure victims' housing stability and support their meaningful recovery."
