According to the Ministry of Finance on June 30, these decisions were made during the seventh meeting of the National Property Policy Review Committee's Real Estate Subcommittee, chaired by Deputy Minister Heo Chang.
The government plans to strengthen audits and assessments of national property, with results to be cross-verified to improve management efficiency. The previously five-year cycle for national property surveys will now be replaced with annual assessments.
Over the next three years, a complete survey of 5.9 million national properties will be conducted, with additional on-site investigations for any identified issues. This data will also be utilized in the national property audit materials introduced this year.
Nineteen central agencies and public institutions that manage large-scale national properties will also undergo audits over the next three years. This year, the Ministry of Finance, along with the Public Procurement Service and the Korea Asset Management Corporation, plans to form joint audit teams to review key national property management departments and public institutions.
The results of the audits, including follow-up actions, will be presented to the National Property Policy Review Committee in December. The findings will be integrated into an AI-based national property management system for better oversight.
Additionally, an evaluation of 106 special exceptions set to expire this year revealed that 45, including those under Article 15 of the Korea Veterans Welfare Medical Corporation Act, will be retained.
Furthermore, 53 exceptions, such as those under Article 17 of the Act on the Promotion of Employment of Persons with Disabilities and Vocational Rehabilitation, will be conditionally retained, while seven exceptions deemed to have no practical benefit, including Article 10 of the Invention Promotion Act, will be abolished starting January next year. The Ministry of Finance plans to prepare a revision of the National Property Special Exceptions Limitation Act based on these deliberations and submit it to the National Assembly in September.
The Ministry of Finance also discussed the exchange of national and public properties with Seoul and Jeju. The ministry agreed to exchange seven properties, including the Shin-dang-dong headquarters with Seoul, and the site of the Tancheon Water Recycling Center currently occupied by the city.
In Jeju, an agreement was reached to exchange the site for a new police training facility, which is state-owned, with the former Jeju Regional Police Agency building adjacent to the provincial government office.
Deputy Minister Heo stated, "As of the end of last year, national property reached 1,403 trillion won. We can actively manage and develop these assets to generate national wealth and return that wealth to the people. The Ministry of Finance, as the overarching agency for national property, will establish a systematic system and framework to manage and develop national property more efficiently."
* This article has been translated by AI.
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