Korea Real Estate Board Announces Organizational Restructuring to Support "Fair and Transparent Transaction Market"

[Asia Economy Reporter Moon Jiwon] The Korea Real Estate Board announced on the 29th that it will implement an organizational restructuring and innovative personnel changes effective from the 1st of next month to support the creation of a fair and transparent real estate transaction market and to expand its role in protecting consumer rights in the real estate market.

To strengthen compliance and ethical management systems and to enhance the core tasks such as disclosure and statistics, and management of real estate sales and rental markets, the headquarters will be reorganized into the Innovation Management Headquarters (formerly the Planning and Management Headquarters), Disclosure and Statistics Headquarters, Market Management Headquarters (formerly the Real Estate Market Management Headquarters), and Industry Support Headquarters (formerly the Urban Architecture Headquarters).

Additionally, the Real Estate Analysis Division and Consumer Protection Division will be newly established to strengthen the protection of real estate consumer rights. The ICT Center, Public Compensation Division, and Urban Maintenance Division will also be newly established. Accordingly, the headquarters' organizational structure will change from the previous 4 headquarters, 1 research institute, 17 divisions/offices, and 55 departments/teams to 4 headquarters, 1 research institute, 15 divisions/offices, and 55 departments/teams.

Regarding branch offices, the regional headquarters system will be abolished and reorganized into regional headquarters with expanded representative branch functions to improve operational efficiency. Before the restructuring, there were the Capital Region Headquarters, Southwest Region Headquarters, and Southeast Region Headquarters, but after the restructuring, these will be subdivided into Seoul Regional Headquarters, Southern Capital Region Headquarters, Northern Capital Region Headquarters, Chungcheong Regional Headquarters, Honam Regional Headquarters, Busan-Gyeongnam Regional Headquarters, and Daegu-Gyeongbuk Regional Headquarters.

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