'Real Estate Startup Competition' Held... Discovering Young Talent and Fostering Jobs

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 21st that it will hold the '2021 Real Estate Service Industry Startup Competition' together with the Korea Real Estate Board to discover promising companies (startups) in the real estate industry sector.

Last December, the Ministry of Land announced the '1st Basic Plan for the Promotion of the Real Estate Service Industry' and is making efforts to foster future industries in the real estate sector, including Prop Tech.

Prop Tech is a compound word of 'Property' and 'Technology,' referring to real estate services based on technologies such as mobile channels, big data analysis, and virtual reality (VR).

Anyone interested in the real estate service industry sector can apply for the startup competition. The contest topics cover all fields related to the real estate industry, including Prop Tech.

Applications can be submitted via email from the 22nd until May 3rd. After document screening and startup camps, the final winning teams will be announced at the end of July.

The grand prize team will receive the Minister of Land, Infrastructure and Transport Award and a prize of 7 million KRW, and the excellence award team will receive the Korea Real Estate Board President Award and a prize of 5 million KRW.

Two winning teams will also be given the opportunity to advance to the integrated finals of the '9th Government-wide Public Data Utilization Startup Competition' hosted by the Ministry of the Interior and Safety.

Han Jeonghee, Director of the Real Estate Industry Division at the Ministry of Land, said, "The government will spare no policy support to ensure that the real estate service industry can grow into a future industry that creates high added value through the promotion of new industries and the creation of an innovative startup ecosystem.

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