Actress Seo Hyun Jin has reportedly fallen victim to a jeonse (rental) scam.
According to the Supreme Court's court auction information and real estate registration on June 2, Seo Hyun Jin personally applied for an auction in April after not receiving her jeonse deposit back for a luxury villa in Cheongdam-dong, Gangnam-gu, Seoul.
In April 2020, Seo Hyun Jin signed a jeonse contract for a luxury villa worth 2.5 billion KRW (1.8 million USD) and completed the jeonse after registration. Later, in 2022, she renewed the contract at 2.625 billion KRW (1.92 million USD), an increase of 125 million KRW (92,000 USD).
However, by the contract's expiration in April 2024, the landlord had not returned the jeonse deposit. Consequently, Seo Hyun Jin completed the leasehold registration in September 2024 and vacated the house, eventually initiating the auction process herself in April 2025.
Following one failed bid, the property's value, originally appraised at 2.873 billion KRW (2.1 million USD), has dropped to a minimum bid of 2.2989 billion KRW (1.67 million USD), which is less than the amount Seo Hyun Jin paid for the jeonse contract.
As a result, the building has been classified as a "깡통주택," which translates to "tin can house," meaning the property's value is less than the jeonse loan/deposit, reportedly worsening the situation.
To fully recover her jeonse deposit, Seo Hyun Jin needs a successful bid exceeding 2.6 billion KRW (1.9 million USD), a scenario deemed unlikely by industry experts given the current falling real estate market conditions.
When asked about the jeonse situation, Seo Hyun Jin's agency, Management Soop, stated, "It is difficult to confirm as it is a matter of her private life."
Jeonse (전세) is a unique housing rental system in South Korea, where tenants pay a large lump-sum deposit, often ranging from 50% to 80% of the property's value, instead of monthly rent. The landlord holds the deposit for the duration of the lease term, typically two years, and returns it in full when the tenant moves out. During this time, the landlord can invest the deposit or earn interest on it. Jeonse is popular because it allows tenants to live rent-free while offering landlords access to large, interest-free capital.
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