Second position. Tenants will likely lose the difference between the market value and the outstanding balance plus jeonse. I was in a similar position and was

Second position. Tenants will likely lose the difference between the market value and the outstanding balance plus jeonse. I was in a similar position and was advised against waiting for the property to be auctioned off and try to buy it myself. Note: outside of a few neighborhoods, most apartments in Korea don't really appreciate in value. People want to buy new.