Young South Koreans hit by real estate scam
Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Read more about South Korea: https://sc.mp/ox6xy South Korea’s rental housing system, known as jeonse, allows people to live in rent-free homes for years by paying huge upfront deposits. Landlords gain access to interest-free cash through the system and are supposed to return the money once tenants move out. However, many tenants are unable to reclaim their deposits because landlords vanish. Many such fraud cases leave victims with huge debts that can take decades to pay off. Some of those caught up in jeonse scams resort to taking their own lives. Support us: https://subscribe.scmp.com Follow us on: Website: https://www.scmp.com Facebook: / scmp Twitter: / scmpnews Instagram: / scmpnews Linkedin: / south-china-morning-post #scmp #Asia #SouthKorea
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