South Korea has a serious housing fraud problem that will lead to an estimated 1.85 Trillion Korean won, or around 1.4 billion US dollars in fraud damages alone in the year 2023.
And all of these housing fraud cases in Korea have its roots on a housing rental system that is very much unique to South Korea, called the “JEONSE” system.
And in today's video, we will have a look into how this "Jeonse" housing system of South Korea is creating multiple problems for the South Korean housing market, and the South Korean economy as a whole.
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◆We are the authors of the book◆
THE SECRETS OF THE JAPANESE MIND- Demystifying the Japanese psyche towards life, gender, love, sex and more.
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Please consider purchasing our book to read the most thorough, in-depth book on the Japanese psychology that has ever been published (You are free to show us a book that is more comprehensive and detailed than ours).
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◆About us◆
AL
I graduated from Waseda University 早稲田大学 (the alma mater of the current Japanese Prime Minister, Chairman of Samsung Group, CEO of Sony, president and CEO of Honda, etc) with a degree in Global Political Economy 国際政治経済学科 at the Department of Political Science and Economics 政治経済学部, and have lived, studied and worked in Japan for over 10 years.
I am in charge with most of the research and presentation on our Youtube Channel.
HELEN
My wife Helen majored in Japanese Language for her bachelor's degree, and have broad experiences working in Japan as a Japanese translator.
Helen is in charge of most of the beautiful editing and thumbnail designs that you see on our Youtube Channel.
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Timestamps:
Intro 0:00-0:34
Origins of the "Jeonse" System 0:35-2:10
Why "Jeonse" System Only Exists in South Korea 2:11-4:05
"Gap Investing" Jeonse Fraud 4:06-7:50
“Trustee" Jeonse Fraud 7:51-9:51
Why "Jeonse" Will Stay 9:52-11:36
