[Incheon Startup Park] Big data and AI platform support programme — Real Estate Care Plus for jeonse fraud prevention

Overview

Real Estate Care+ was developed through the Incheon Startup Park big data and AI platform support program, which is overseen by the Incheon Free Economic Zone Authority and operated by Incheon Technopark and provides infrastructure, consulting and technology development to companies in the region. The service aims to increase the transparency of property transactions in the Incheon area and to prevent jeonse fraud, a form of deposit-based rental fraud.

Technology

The service uses POOM 2.0, Incheon Startup Park's validated big data and AI platform, to collect and analyse property market data, and applies deep learning algorithms to identify anomalies and detect patterns of jeonse fraud. AI analysis models compare the highest, lowest and actual prices within a radius of up to 3 km around a listed property to present comparative market rates and predicted prices and to detect inappropriate listings and outliers. The likelihood of fraud is predicted by learning from risk-factor data including transaction history, market trends, other buildings owned by the landlord, financial arrears, unpaid national taxes and changes in registered ownership.

User-facing features

An LLM model provides real-time property information and user consultation, delivering information generated during the transaction process in real time.