[Asia Exclusive] "We Will Launch the Best Domestic Real Estate App Surpassing Naver"

Park Yong-hyun, President of the Korea Association of Certified Realtors
Fully Committed to Enhancing Realtors' Expertise and Competitiveness
Promotion of Establishing Five New Private Certification Areas

Asia Exclusive Interview with Park Yong-hyun, President of the Korea Association of Certified Realtors. / Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Moon Jiwon] Park Yonghyun, president of the Korea Association of Certified Realtors, aims to elevate the professionalism and competitiveness of certified realtors during his term. He is determined to eliminate the negative images of the past, such as real estate speculation and price gouging, and to create a trusted certified realtor industry for the public. Since taking office in January last year, President Park has spent the past year laying the groundwork by working between frontline brokerage offices, the government, and the National Assembly.

President Park obtained his certified realtor license in 1994 and has worked in the brokerage industry for 26 years. When he first entered the industry, brokerage as a livelihood was not bad. However, recently, with the growth of online real estate platforms such as Naver, Zigbang, and Dabang, which leverage capital and technological capabilities, the space for existing realtors has narrowed.

After the exam changed to an absolute evaluation system, the number of realtors exploded, intensifying competition, and frequent brokerage accidents expanded the perception that professionalism had declined. President Park judged that change is essential for the brokerage industry to regain competitiveness and restore public trust. He said, "For realtors to be recognized by the public and improve their image, they must have profound knowledge," adding, "We plan to create specialized courses by sector."

The association plans to establish five private certifications in areas such as real estate rights analysis, information analysis, sales counseling, lease management, and feng shui counseling. They have already applied to the Korea Research Institute for Vocational Education and Training, and the relevant authorities are currently reviewing the application. Once the courses open around the second half of this year, experts in each field will be produced, broadening the scope and professionalism of certified realtors.

Along with this, President Park revealed a plan to develop the nation’s best application that surpasses existing real estate platforms like Naver Real Estate. To this end, in December last year, they signed a business agreement with KB Kookmin Bank for platform development and are accelerating work with a target launch in August. Combining KB Kookmin Bank’s long-accumulated real estate price and statistics data with the information power of 106,000 frontline certified realtors affiliated with the association is expected to create a synergy effect.

This confidence is supported by the ability to check nationwide listings and price information faster and more accurately than any other institution. President Park said, "The Ministry of Land, Infrastructure and Transport requires a one-month period for actual transaction reports, but the association can produce actual transaction statistics weekly," adding, "We can also create lease price statistics that no one else can."

To this end, the association is striving to have about 90% of nationwide licensed realtors use the association’s platform, 'Hanbang,' to prepare transaction contracts. Hanbang, used by realtors, is known for its high industry utility by well-organizing special clauses by housing types such as apartments and villas. President Park also promised members that he would resolve the association’s chronic problems of internal strife and conflicts that have persisted during elections within his term.

President Park said, "In the past, the association was not trusted even by its members," and added, "The reason I ran for president was to change this negative image. I will do my best during my term to make the association a strong support system for members and give them hope."

◆Profile of Park Yonghyun, President of the Korea Association of Certified Realtors

▶Member of the Gyeonggi Province Housing Lease Dispute Mediation Committee ▶Director of the Korean Real Estate Management Association ▶Member of the Housing Lease Dispute Mediation Committee, Suwon Branch, Korea Legal Aid Corporation ▶Legal Counseling Committee Member, Gyeonggi Province ▶10th and 11th President of the Southern Gyeonggi Branch of the Korea Association of Certified Realtors

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