> Debt, suicide, fraud: young S Koreans hit by real estate scams / 34TG79A
00:00
00:00 / 00:00
Debt, suicide, fraud: young S Koreans hit by real estate scams / 34TG79A
Clip ID 2234569
Creator AFP
Clearance
Proxy
Add to
Share
Add to Review Link
By Request
By Request assets are not available for immediate purchase.
h264 | 1920x1080 | 238.31 MB
Per clip rates are for 20 seconds of final usage. If you are using more then 20 seconds or need a different file format or have questions about clearances contact us
Description
Activists in South Korea say authorities are not doing enough to help victims of housing fraud. The country's rental housing market features a unique system known as "jeonse" which allows tenants to pay huge deposits to live rent-free for years before getting all their money back when they move out. The idea is that landlords get access to interest-free cash but the system is now rife with fraud -- police data suggests more than a billion dollars is lost to jeonse scams every year. One such victim is 37-year-old Park Hyeon-su who was evicted from his property after his landlord vanished.
"I've given up on dating, not to mention getting married or having a child," says Park who uses a pseudonym for his jeonse activism to protect his privacy. IMAGES AND SOUNDBITES