"Zigbang's Entry into Brokerage Business Will Be Absolutely Blocked"…Statement from the Korea Association of Realtors

"Corporate Tyranny and the Destruction of Small Business Owners"
"Will Take Firm Action Using All Means Possible"

[Asia Economy Reporter Moon Jiwon] The Korea Association of Realtors has issued a "strongly opposed" statement regarding the real estate platform 'Zigbang's' entry into the apartment brokerage market. Realtors nationwide are also escalating their opposition by continuing relay solo protests.

On the 14th, the Korea Association of Realtors condemned Zigbang's entry into the apartment brokerage market in a statement titled "Condemnation of Large Real Estate Platform Companies' Invasion of Local Small Business Districts," calling it "an act of corporate tyranny infringing on the local small business districts of small-scale licensed realtors and an act of exterminating small business owners."

They added, "We strongly condemn the behavior of large real estate platforms that, under the guise of coexistence and cooperation in media play, are depriving the livelihood of one million realtor families and trying to kill even the fragile local small business districts," emphasizing, "We strongly urge the National Assembly and the government to deeply recognize and resolve the problems of unfair business practices."

The association raised its voice, stating, "All licensed realtors declare that if large real estate platforms do not withdraw from entering the real estate brokerage business, they will firmly respond by employing all means including legal action, signature campaigns, and assemblies."

Zigbang recently introduced a new proptech model called 'Ontact Partners' and revealed a cooperation model with licensed realtors. Consumers can view listings through virtual reality (VR) and 3D technologies developed by Zigbang, and when signing contracts, both the licensed realtor and Zigbang's brokerage subsidiary jointly sign.

Zigbang is not merely providing a platform but is participating in joint brokerage. They take responsibility for contract details and split brokerage fees equally with the realtor.

Although Zigbang clarified that this is not direct brokerage amid controversy, the brokerage industry views Zigbang's demand for half of the brokerage fee as effectively equivalent to entering the brokerage market.

Frontline licensed realtors have recently intensified their opposition by conducting "certification shot relay protests" online in response to Zigbang's entry into the brokerage business. An association official stated, "We plan to conduct a signature campaign targeting members nationwide and distribute related posters and notices."

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