Real Estate Agents Association Unification... "Pushing for Passage of Legal Entity Bill"

Korea Association of Certified Realtors Unifies by Absorbing Saedaehan
"Efforts to Eradicate Illegal Brokerage and Protect Citizens' Property Rights"

At the unification declaration ceremony of the Korea Association of Certified Real Estate Agents held on the 15th, Lee Jong-hyuk, President of the Korea Association of Certified Real Estate Agents (fifth from the left), and Min Kyung-ho, President of the Sae Daehan Association of Certified Real Estate Agents, are shaking hands and taking commemorative photos with officials. / Photo by Korea Association of Certified Real Estate Agents

[Asia Economy Reporter Noh Kyung-jo] The Korea Association of Certified Realtors (hereinafter the Association) has unified into a single entity. On the 15th, the Association held a proclamation ceremony at the Seoul Central Association Hall and officially announced its unification with the SaeDaehan Certified Realtors Association (hereinafter SaeDaehan).

With certified realtors who had been scattered across two organizations now united as one, the Association expects the push for legal recognition as a statutory body to gain momentum.

The proclamation ceremony proceeded with the reading and signing of the unification declaration. From the Association, Chairman Lee Jong-hyuk, Vice Chairman Jo Jin-ho, Director Kim Yoon-sik, Vice Chairman of the General Assembly Han Kyung-soo, and Secretary-General Choi Woo-sun attended. From SaeDaehan, Chairman Min Kyung-ho, Chairman Jang Sung-gu, Delegate Park Man-bok, former Vice Chairman Park Seok-gyu, and Secretary-General Seong Seon-jong were present.

Chairman Lee said, "Today is a meaningful day marking the successful integration of the two associations," adding, "I extend my deep gratitude to the negotiation teams from both sides and SaeDaehan officials, including Chairman Min, for their hard work leading up to this day." He continued, "We will definitely achieve legal recognition of the Association and strive to stabilize the real estate market and enhance the status of certified realtors."

Chairman Min said, "After a difficult and arduous process, the day has come when we stand shoulder to shoulder, and I feel deeply moved." He added, "Now, as a member of the Association, I will contribute my efforts to achieving our shared goals, including statutory recognition. I will do my best wherever I can contribute to the Association."

Both sides had formed a practical task force to discuss integration methods and detailed procedures. They explained that they reached unification based on a shared understanding that passing legislation to establish a statutory body is essential for creating a transparent brokerage market and protecting citizens' property rights as a qualified professional organization.

The Association had deliberated and resolved the 'Association Integration Agenda' at the 149th Extraordinary General Assembly held on October 20. Subsequently, SaeDaehan also passed its own General Assembly resolution and completed the corporate dissolution report to the Ministry of Land, Infrastructure and Transport, the relevant authority.

An Association official emphasized, "More than 96% of active certified realtors are already members of the Association, which has faithfully carried out public roles such as government-commissioned education for realtors and public compensation and information projects for citizen protection for 36 years. Through this unification and the legislative push for statutory recognition, a foothold will be established to eradicate unregistered and illegal brokerage activities and protect citizens' property rights."

Meanwhile, 24 lawmakers from both ruling and opposition parties, including Kim Byung-wook of the Democratic Party of Korea, proposed the 'Partial Amendment to the Certified Realtors Act' in October. The bill focuses on entrusting the Association with guidance and management duties over unregistered and illegal brokerage actors who disrupt the real estate market.

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