Even After Apartment Transactions, 37,700 Listings Advertised Over Two Months...Fines Starting April

Ministry of Land, Infrastructure and Transport Announces Real Estate Advertisement Monitoring Results Based on Actual Transaction Data
Fines to be Imposed from April 1... Urges Industry to Actively Pursue Voluntary Corrections

[Asia Economy Reporter Kangwook Cho] Starting next month, a fine will be imposed if real estate listings such as apartments posted on internet portals are left unattended even after the transaction is completed.

The Ministry of Land, Infrastructure and Transport announced on the 29th that it plans to impose fines on false listings detected through the "Real Estate Advertisement Monitoring Based on Actual Transaction Information," introduced in January this year, after verification by the relevant local governments.

Fines will be imposed only on real estate agents who directly concluded the contract but did not delete the advertisement, considering cases where multiple licensed real estate agents posted advertisements for the same listing.

Fines will not be imposed on real estate agents who did not directly conclude the contract after posting the advertisement, making it difficult to confirm whether the transaction was completed.

According to the Ministry, among 2,744,188 apartment sale advertisements exposed on Naver Real Estate from January to February, 1.37% (37,705 cases) were found to be left undeleted even after the transaction was completed.

Among these, advertisements left unattended by real estate agents who directly concluded the contract accounted for 0.31% (8,400 cases) of the total.

The Ministry plans to defer imposing fines on the 8,400 cases subject to fines but will notify local governments of the investigation results to guide the real estate agents on violations and future action plans.

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