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National Assembly Passes Pair of Bills Triggered by Recent Scandals

Written: 2023-05-25 16:26:51Updated: 2023-05-25 16:39:55

National Assembly Passes Pair of Bills Triggered by Recent Scandals

Photo : YONHAP News

The parliament has passed bills drawn up following recent scandals surrounding housing rental scams and a lawmaker's virtual assets at a plenary session on Thursday.

The bill to help victims of rental scams provides various aid to victimized tenants, most of whom are in their 20s and 30s, caught up in fraudulent schemes that abuse the country's unique lump sum rental deposit system called "jeonse."

The bill includes expanded financial aid to the victims such as long-term, interest-free and low interest rate loans for the deposit and a one-stop help desk offered by the government to help tenants with their houses put up for auction or public sale. 

A revision to the National Assembly Act requires incoming lawmakers to report any kind of digital asset to the ethics review committee regardless of the amount.

In line with the change, all current lawmakers are required to voluntarily report their virtual assets by late June.

Both bills were inspired by recent scandals, with many young people falling victim to jeonse schemes reliant on stable housing values, while the virtual asset revision came in response to a cryptocurrency controversy involving sitting lawmaker Kim Nam-kuk.

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