The National Assembly's Land, Infrastructure and Transport Committee has decided to allocate 27.9 billion won from the government's supplementary budget — without any increase from the original proposal — for a minimum deposit guarantee program designed to help jeonse (lump-sum deposit lease) fraud victims restore their daily lives. Separately, the committee newly added 65 billion won to expand monthly rent subsidies aimed at easing housing cost burdens for young people.
The committee held a budget review subcommittee meeting and a plenary session in succession at the National Assembly in Yeouido, Seoul, on Wednesday, approving the allocation of 27.94 billion won under the Ministry of Land, Infrastructure and Transport's supplementary budget for minimum guarantee payments to jeonse fraud victims. The funds are intended to cover the shortfall with government finances when a fraud victim's recovery amount falls below one-third (33%) of the total deposit after auction or public sale proceedings have concluded. The government estimated that approximately 4,800 jeonse fraud victims would each receive an average of 33.1 million won under the program.
Some lawmakers had demanded raising the minimum guarantee ratio to 50%, and the government prepared a plan to increase funding by 13.9 billion won accordingly. However, the budget review subcommittee rejected the increase. Fiscal authorities maintained that the ratio should be set at 33%, citing the need for equity with similar systems such as the priority deposit repayment scheme.
The legislative basis for the minimum guarantee program — an amendment to the Special Act on Support for Jeonse Fraud Victims and Housing Stability — is currently pending at the committee's legislation review subcommittee. The budget allocation is expected to accelerate the bill's passage. While the pending bill sets the minimum guarantee ratio at 50%, it is expected to be revised downward to 33% through further deliberations.
The committee also approved a 65 billion won increase for the youth monthly rent subsidy program, raising the monthly support amount from 200,000 won to 300,000 won per recipient.
Budget items for overseas construction consulting support (400 million won), construction industry information system development and operation (133 million won), and a research project on the metropolitan transportation system for southern and eastern areas of the Seoul metropolitan region (1 billion won) drew criticism from opposition lawmakers as inconsistent with the purpose of the wartime supplementary budget. However, the items were approved at the original amounts without reductions.
The supplementary budget also added 45.94 billion won in fuel subsidies for chartered buses. The measure is aimed at easing fuel cost burdens on the chartered bus industry amid high oil prices. The newly allocated amount was calculated based on supporting 38,282 chartered buses nationwide with 400,000 won per month in fuel cost increases over three months.
Chartered buses had been excluded from fuel subsidy programs even during periods of high oil prices, because the current enforcement decree of the Passenger Transport Service Act limits diesel fuel subsidies to route buses and taxis. The government and the committee agreed to extend subsidies to chartered buses, considering that 70% of chartered bus passengers use the service for commuting to work or school — effectively functioning as "quasi-public transit" — and that 97% of chartered buses run on diesel.
The committee also decided to increase funding by 66.6 billion won to halve the threshold amount for "Everyone's Card," the flat-rate option under K-Pass, a public transit fare cashback service. K-Pass offers two types: a basic plan that refunds a fixed percentage of transit spending for regular users, and a flat-rate plan that reimburses transit spending exceeding a set threshold.
The current threshold for the Seoul metropolitan area is 62,000 won. If this is halved to 31,000 won, all transit spending above that amount would be fully reimbursed. The measure aims to encourage public transit use and reduce transportation cost burdens amid high oil prices.
The National Assembly plans to conduct a comprehensive review at the Special Committee on Budget and Accounts from Wednesday through Thursday, hold a subcommittee session on Friday to deliberate on reductions and increases, and finalize the supplementary budget at a plenary session on Saturday.