The Korea Real Estate Agents Association announced plans to enhance the professionalism and social responsibility of real estate agents as it celebrated its 40th anniversary and the establishment of its legal entity status. Chairman Kim Jong-ho outlined initiatives to increase public trust while focusing on artificial intelligence (AI) training, infrastructure development, and support for members' business operations.
The association held a ceremony on September 9 at the Gwanggaeto Hall of Sejong University in Gwangjin-gu, Seoul, attended by over 1,000 members, employees, and guests. Originally established as a legal entity in 1986, the association transitioned to a voluntary organization in 1999 and regained its legal status on August 28 after 27 years.
With the transition to a legal entity, the association is required to establish ethical guidelines for its members, approved by the Minister of Land, Infrastructure and Transport, and to engage in public interest activities. The legal framework now explicitly outlines the association's responsibilities for transaction safety and consumer protection.
Chairman Kim stated, “The transition to a legal entity is not merely an expansion of authority but a starting point for enhancing the social responsibility of real estate agents. With this new status, we will strive to be recognized as trustworthy and professional real estate agents.”
He also announced plans to support digital transformation, stating, “We will actively engage in digital initiatives such as AI and proptech to ensure our members do not fall behind in technological competition. We will provide training on utilizing AI in real estate transactions and explore new business areas using proptech.”
Enhancing member welfare and strengthening business foundations were also highlighted as key objectives. Kim emphasized, “We will expand public platforms centered around our members and establish agreements with public institutions to support real estate agents beyond just being a member organization.”
Reflecting on the past 40 years, Kim noted the association's commitment to ensuring housing stability and establishing order in real estate transactions, stating, “The Korea Real Estate Agents Association will always stand by our members like a lighthouse illuminating a dark sea.”
Secretary General Ha Jae-gap, who reported on the progress of the legal entity transition, explained that efforts to communicate the need for this change began last year through visits to the National Assembly and meetings with lawmakers. The relevant bill was submitted to the National Assembly on July 23, 2022, and passed in a plenary session on January 29, 2023.
Ha recalled, “I will never forget the moment on January 29, 2023, when 190 out of 196 members present voted in favor. Let’s work together for an even more remarkable 40 years ahead.”
Lawmakers emphasized the role of real estate agents in ensuring transaction safety and protecting citizens' property rights, promising to improve the system.
Jang Dong-hyuk, a representative of the People Power Party, remarked, “Real estate agents are the first point of contact for citizens seeking housing and businesses looking for operational space. You stand on the front lines protecting citizens' housing rights and economic interests.”
He added, “The experiences of citizens visiting real estate offices are an important indicator of real estate policy. We will continue to review the policy suggestions and issues raised by the association to ensure they lead to actual legislation and policy changes.”
Min Hong-cheol, a member of the Democratic Party, urged the association to focus on establishing order in real estate transactions and protecting citizens' property rights following the launch of the legal entity.
Mo Kyung-jong, another member of the Democratic Party, expressed hope that the association would become a more trusted organization in light of its 40th anniversary and new legal status.
Kim Jong-yang, a member of the People Power Party, pledged to support system improvements that would allow real estate agents to operate more securely as qualified professionals and create new opportunities for those who have obtained their licenses but are not currently utilizing them.
The event was also attended by lawmakers including Kwon Young-jin, Kim Han-mo, president of the Korea Developers Association, Kang Hyun-gu, president of the Korea Housing Management Association, and Ha Won-seon, president of the Korea Housing Management Association. Video messages of congratulations were sent by National Assembly Speaker Chung Jae-suk, Democratic Party leader Kim Min-seok, Seoul Mayor Oh Se-hoon, and Gyeonggi Province Governor Lee Jae-myung.
The ceremony included the announcement of the association's vision, awards for the 40th anniversary, recognition of members on Real Estate Agents Day, awards for long-serving members, and a contest for field reports. A reading of the ethical guidelines and a hand-printing performance involving over 20 participants, including Chairman Kim Jong-ho and Vice Chairman Kim Ji-yeon, followed.
* This article has been translated by AI.
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