Corrective order to Daehan Land Trust and Serim Construction for false advertisement
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The Fair Trade Commission announced on the 2nd that the Korea Land Trust and Serim Construction Co., Ltd. have issued a corrective order regarding false advertising as if they could earn stable rental income for a long period of time with phrases such as ‘1 million won per month in lifetime pension’ while selling officetels.
According to the Fair Trade Commission, Serim Construction Co., Ltd., which is in charge of the pre-sale business, the Korea Land Trust and licenses, created “Lifetime Pension 1 million Won per month” and “Lifetime Pension, Lifetime Salary Passbook” on banners and leaflets from November 2016 to February 2019. I included the ad content. ‘Monthly 1 million won revenue’ is only an estimate of monthly rent based on market prices, and although there is no means to guarantee profit, the two companies did not disclose this and advertised as if they could earn stable rental income for a long time.
In addition, the two companies advertise “3 for 100 million” and “2 for 100 million” despite the fact that the actual investment amount may vary depending on the loan qualification or registration as a rental business. I cheated as if I could. They also advertised as if they could sell multiple units for all rooms, even though the sale price of 3 or 2 houses for 100 million won based on the actual investment amount is limited to rooms with low sales prices. The Fair Trade Commission said, “To prevent damage to consumers that may occur in the process of selling profitable real estate, we plan to strengthen inspection of unfair advertisements.”
/ Intern reporter Hyein Lee [email protected]
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