Lee Jae-myung "Office-tel Maintenance Fees Are Inflated... Due to Opaque Management"

'Management Fee Bubble' Issue Stemming from Opaque Operations

[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, promised to improve the system to resolve the issue of excessive management fees for officetels.

On the morning of the 20th, Lee announced the 'Myeonghwakhaeng (Lee Jae-myung's Certain Happiness)' pledge on Facebook, stating, "The Lee Jae-myung administration will no longer tolerate the excessive management fees and the tyranny of management companies in officetels." He criticized, "Aren't you curious about officetel management fees that are more expensive than those of luxury residential-commercial complexes? Since officetels are legally considered business spaces rather than residential spaces, the management committees impose management fees without special restrictions."

He continued, "While the management fee for the most luxurious residential-commercial apartments in Gangnam is about 3,000 KRW per square meter, some officetels charge 5,000 KRW per square meter, and in some cases, even exceed 6,000 KRW." He added, "Many analyses suggest that this inflated officetel management fee stems from the opaque operation of the management committees." He then stated, "We will reform the system and focus administrative efforts to improve the unreasonable realities related to management fees of collective buildings such as officetels."

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