Mandatory Disclosure of Housing Rental Business Status... Opposition Tae Young-ho Proposes Bill

[Asia Economy Reporter Kim Hye-min] A bill has been proposed to mandate the Minister of Land, Infrastructure and Transport to disclose the registration status of rental business operators and rental housing.

On the 19th, Tae Young-ho, a member of the People Power Party, proposed an amendment to the Special Act on Private Rental Housing, stating, "Currently, only data up to June of last year can be confirmed, causing a gap in statistics."

In the early days of the Moon Jae-in administration, the Ministry of Land, Infrastructure and Transport used to compile and announce monthly rental housing registration results, but it has now switched to non-disclosure. Despite requests from the National Assembly, the ministry maintains that it can only submit statistics from August 2018 to June 2020.

Although the ministry cites ongoing adjustments due to the reform of the rental registration system, Representative Tae pointed out, "This is related to the process of abolishing the relevant system by shifting the blame for rising house prices to rental business operators who own multiple homes."

Since the housing market stabilization measures in July last year, the 4-year short-term rental and 8-year long-term general purchase rental apartments have been abolished, and houses registered under this system are automatically deregistered immediately after the rental obligation period expires.

Representative Tae emphasized that regardless of policy changes, there should be no gaps in statistics to analyze the current inventory and trends of registered rental housing and their impact on the housing market.

He explained that this amendment was proposed to have the Minister of Land, Infrastructure and Transport systematically manage and disclose information such as rental business operators and rental housing registration status.

Representative Tae said, "The transition to non-disclosure under the Moon administration has increased confusion surrounding the system. If the bill passes, more accurate policy formulation and implementation will be possible."

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