Korea Real Estate Development Association Holds 'Public-Private-Academic' Meeting for Real Estate Industry Development

On the 12th, at the Korea Real Estate Development Association meeting room in Yeoksam-dong, Seoul, the on-site meeting for public-private-academic cooperation to develop the real estate industry was held.

[Asia Economy Reporter Donghyun Choi] The Korea Real Estate Development Association announced on the 13th that it held a "Public-Private-Academic Roundtable for the Development of the Real Estate Industry" on the 12th at the Korea Real Estate Development Association conference room in Yeoksam-dong, Seoul.

The roundtable was organized to explore cooperative measures for the sustainable growth of the real estate industry and to jointly respond to the increasingly advanced and specialized changes in the real estate development environment by the public, private, and academic sectors.

Kim Seung-bae, Chairman of the Korea Real Estate Development Association, stated, “The future real estate industry will transform into a completely new form of industry due to the Fourth Industrial Revolution, the untact culture caused by the novel coronavirus disease (COVID-19), and the emergence of the millennial generation.” He emphasized, “Although the current real estate industry is facing a difficult environment, the public, private, and academic sectors must cooperate to overcome the crisis and prepare for the future.”

Lee Hyun-seok, Chairman of the Korea Real Estate Analysis Society, said, “We must reduce the negative perception of the real estate industry with a sense of mission,” adding, “Our role is to increase the contribution of the real estate industry to the national economy and the overall industry through overseas expansion and other efforts.”

Oh Sung-ik, Director of the Real Estate Development Policy Division at the Ministry of Land, Infrastructure and Transport, explained, “Currently, the Ministry of Land, Infrastructure and Transport is preparing the First Basic Plan for the Promotion of the Real Estate Service Industry to foster the real estate industry,” and added, “We plan to continuously hold sessions like today’s to listen to opinions from the industry and academia in order to establish effective policies that help the real estate industry field.” Oh also added, “We need to strengthen industry-academia cooperation with the developer sector, cultivate specialized personnel needed in the field, and present a future vision of the real estate industry to students.”

Meanwhile, the Korea Real Estate Development Association is a statutory organization established based on Article 29 of the "Act on the Management and Promotion of Real Estate Development Business," representing domestic real estate development companies. It conducts various projects for education and exchange among industry members and stakeholders through statutory (commissioned) tasks, training and integrated management of real estate development professionals, policy proposals, joint establishment and operation of advanced courses, establishment and operation of the Cubating Center and Public-Private Development Cooperation Center, and various academic seminars.

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