President Yoon Suk Yeol has called for thoroughly cracking down on home rental scams amid a surge in their numbers, his office said Friday.

Yoon was briefed Thursday on the government's efforts to clamp down on scams involving the "jeonse" rental system, according to presidential spokesperson Lee Do-woon.

He called for "improving systems and a thorough crackdown as jeonse scams are vicious crimes targeting ordinary citizens and young people," Lee said.

The briefing was given by Justice Minister Han Dong-hoon, Land Minister Won Hee-ryong and National Police Agency Commissioner General Yoon Hee-keun.

Yoon also instructed them to carry out strict crackdowns on scams involving fake advertisements for the sale of homes and used cars, Lee said.

Under South Korea's jeonse system, tenants pay a large lump-sum deposit, known as key money, to the landlord, which is then returned at the end of the rental agreement, usually lasting two years. During the lease period, the tenants do not pay monthly rent.

Tenants, however, may be unable to get their deposit back if landlords conceal their mortgage.

The combined value of disputes surrounding the jeonse system reached 1.2 trillion won ($980 million) in 2022, doubling from a year earlier, according to the finance ministry. The number of jeonse fraud cases also shot up to 618 cases from the previous year's 187.

(Yonhap)