The government will enact a special law for the next two years that supports victims of lump-sum “jeonse” rental housing deposit fraud.

Under the plan announced on Thursday, eligibility will extend to tenants with a fixed date on their jeonse contract whose residence is put up for auction while an investigation into alleged fraud has been launched.

Once eligible, the victims can apply for a deferment or suspension of the auction and decide whether to purchase the home through the right of first refusal or continue with the lease.

For tenants with an annual income of 70 million won or less wanting to purchase the property, the government will also offer a long-term loan of up to 400 million won, or around 300-thousand U.S. dollars, at an interest rate of one-point-85 to two-point-seven percent.

Those with a higher income can seek a loan of up to 500 million won at an interest of three-point-65 to three-point-95 percent, with all recipients of such loans exempt from the acquisition tax of up to two million won and a three-year reduction in property taxes.

For victims wishing to continue renting, the Korea Land and Housing Corporation(LH) will buy the house to help maintain their rental status for up to 20 years.