"Firm Opposition to Brokerage Fee Reduction"... Launch of the Licensed Real Estate Agents' Struggle Committee

On the 8th, members protested against the reduction of brokerage fees at the launch ceremony of the Korea Association of Realtors' "Real Estate Policy Failure Condemnation and Livelihood Protection Struggle Committee" held in front of the Ministry of Land, Infrastructure and Transport in Sejong. (Photo by Korea Association of Realtors)

The Korea Association of Certified Realtors, opposing the government's reduction of the upper limit rate for brokerage fees, announced on the 8th that it will hold the launching ceremony of the 'Committee for Condemning Real Estate Policy Failures and Fighting for Survival Rights' and begin full-scale protests against the government.

On the same day, the protest committee held a rally condemning the government's policy failures in front of the Ministry of Land, Infrastructure and Transport in Sejong, with 300 members gathered. The association emphasized in a statement, "We can never accept the brokerage fee reform plan unilaterally announced by the government ignoring reality," and added, "We will mobilize all means and methods to fight against the government until sincere negotiations are resumed."

Earlier, the Ministry of Land, Infrastructure and Transport announced a brokerage fee reform plan to lower the upper limit rates for certified realtors, reducing fees for sales transactions over 600 million KRW and lease transactions over 300 million KRW. The amendment to the Enforcement Rules of the Certified Realtors Act containing these details was also recently announced for legislative notice.

Regarding this, the association stated, "The current government has ignored the voices of the public and the brokerage field throughout the process of announcing real estate policies 26 times over the past few years," and said, "The logic that since transaction volumes have been halved and real estate prices have now risen, it is acceptable to lower brokerage fees is absurd."

At the rally, which also served as the launching ceremony of the protest committee, performances such as discarding certified realtor licenses and readings of statements and resolutions took place.

The protest committee explained, "Going forward, we plan to intensify all possible resistance, including returning certified realtor licenses, indefinite strike alliances, movements to oust the current administration, and nationwide posting of posters and banners condemning government policy failures."

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