Gyeongnam Province, 'Out' to Housing Developers Degrading Residents' Housing Quality!

Strong Measures Including Deregistration After Verifying Supplementation for Non-Compliance with Registration Standards

Gyeongnam Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do is taking action to punish housing construction businesses that violate the Housing Act.

Gyeongnam Province will verify whether companies that were suspended from business due to failure to meet registration standards, identified through the 2021 housing construction business status survey, have made corrections, and will impose administrative measures such as deregistration.

According to the province, anyone supplying 20 or more detached houses annually, or 20 or more units of multi-family housing, 30 units of urban-type residential housing, or developing land of 10,000㎡ or more, must register as a housing construction (land development) business operator under the Housing Act.

To register as a business operator, one must have a capital of 300 million KRW, or for individuals, an asset evaluation amount of 600 million KRW or more, and depending on the business purpose, have one technical personnel in the architectural or civil engineering field, as well as an office equipped with the necessary office equipment to carry out the business.

Last year, the province, together with the Korea Housing Construction Association Ulsan·Gyeongnam Chapter, investigated housing construction businesses that failed to meet registration standards.

On December 30, 2021, 84 violating companies were given business suspensions of 3 months, 1.5 months, or warnings.

Among the 73 companies that received a 3-month business suspension, those that did not correct the registration deficiencies during the suspension period will face strong measures such as deregistration after procedures including hearings, in accordance with relevant laws.

Heo Dongsik, Director of the Urban Transportation Bureau, said, “Through this administrative action, housing construction businesses violating the law will not be allowed to operate within the province,” and added, “We will continue to investigate and take action against substandard businesses to improve the quality of housing for residents and establish legal order.”

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