Police Launch 100-Day Special Crackdown on 'Real Estate Market Disruption'... 50 Investigators Deployed

Disturbance of Transaction Order, Illegal Brokerage, and Reconstruction Corruption
Arrest and Investigation of Professional Brokers Planned

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is speaking at the 1st Real Estate Market Inspection Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 5th. Unusually, Kim Chang-ryong, Commissioner of the National Police Agency, attended the meeting that day. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Lee Gwan-ju] The first issue addressed by Police Commissioner Kim Chang-ryong after his inauguration was 'real estate.' The National Police Agency announced on the 6th that it will conduct a 'special crackdown on real estate market disruption' for 100 days from the 7th of this month to November 14.

The main targets of the crackdown are ▲ 'transaction order disruption acts' such as trading subscription savings accounts, resale of pre-sale rights, and planned real estate ▲ 'illegal brokerage activities' such as price collusion ▲ corruption in reconstruction and redevelopment ▲ public housing rental corruption ▲ and 'jeonse fraud' such as embezzlement of jeonse deposits.

The police will take proactive measures by designating intensive investigation offices in areas showing signs of overheating in the real estate market. In particular, a special investigation team of 50 members will be formed within the intelligent crime investigation units of eight local police agencies that have jurisdiction over speculative overheating zones and regulated areas.

Furthermore, large-scale and organized illegal activities involving brokers will be exclusively investigated by the investigative departments (intelligent crime investigation units, metropolitan investigation units) of 18 local police agencies nationwide, while 255 police stations will conduct intensive crackdowns to eradicate chronic illegal activities in their jurisdictions. Arrest and investigation will also be pursued against habitual offenders such as professional brokers.

A National Police Agency official stated, "We will firmly respond according to the law and principles to illegal acts that distort real estate prices, disrupt transaction order, involve illegal brokerage activities, public housing rental corruption, and jeonse deposit fraud that hurt low-income households without homes." He added, "We ask for the active reporting and tips from citizens to eradicate real estate market disruption acts."

This content was produced with the assistance of AI translation services.