50s Fined for Posting Notice on Apartment: "Don't Sell Below This Price"

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] A man in his 50s who posted a notice within an apartment complex saying "Do not sell apartments below a certain price" was fined.

On the 20th, according to the legal community, Judge Choi Sang-soo of the Criminal Division 6 at Seoul Northern District Court sentenced Kim (52), who was indicted for violating the Licensed Real Estate Agents Act, to a fine of 500,000 won.

Kim was prosecuted for posting a notice on the bulletin board on the first floor of the apartment he lives in, located in Gangbuk-gu, Seoul, on February 25th of this year, which stated "Do not conduct real estate transactions below a certain price."

In the notice, Kim specifically disclosed the actual transaction prices and asking prices by apartment size and suggested not to request real estate brokerage services below the prices he proposed. Additionally, Kim was investigated for hanging a banner at the apartment entrance stating "Do not use a certain real estate agency that lowers our value."

The court stated, "It is recognized that these actions were taken with the intent to unfairly influence apartment transaction prices and interfered with the duties of licensed real estate agents."

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