Gwangju City, 41 Cases of Illegal Real Estate Brokerage Activities Detected

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 13th that it conducted a joint crackdown on illegal real estate brokerage activities with autonomous districts from March 23 to last month 7, uncovering 41 cases violating the Licensed Real Estate Agents Act and other regulations.

Gwangju City focused its crackdown on 81 brokerage offices as complaints about unqualified brokerage activities and excessive brokerage fees, which have been problematic in real estate transactions, continued to be received.

The types of violations detected include ▲1 case of unqualified brokerage activities ▲4 cases of excessive brokerage fees ▲4 cases of omission of licensed real estate agent’s seal on contracts ▲24 cases of omission or failure to keep required information in the confirmation explanation document ▲1 case of violation of outdoor advertising display regulations ▲1 case of failure to report business closure ▲6 cases of violation of posting obligations such as brokerage office registration certificates.

Among the 41 cases detected, 2 were referred for investigation, 10 were suspended from business, 13 were fined, and 16 were given corrective guidance.

Gwangju City plans to continue conducting inspections in areas with frequent complaints and regions with rapid price increases due to purchases by outsiders, and to establish a cooperative system with related agencies such as the National Tax Service and the Police Agency to block illegal transactions and speculative activities.

To this end, regular meetings for real estate market stabilization are held with the Police Agency, National Tax Service, and others, and a real estate transaction trend monitoring team composed of licensed real estate agents operates to share real estate transaction trends in real time.

Lee Su-won, Director of the Land Information Division of the city, said, “We will continue to share information and conduct joint crackdowns with related agencies such as the Police Agency and National Tax Service to establish order in the real estate market and minimize citizen damage,” adding, “We will respond strictly to various illegal activities such as false real estate reporting and unqualified brokerage activities.”

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