"Recommended even for enemies" Yongin City to Conduct Actual Condition Inspection of Landlord Housing

Targeting 13 Cooperatives: Compliance with Recruitment Ads, Fund Management, and Contracts
Proposal to Raise Required Land Use Rights Ratio from 50% to 75%

Yongin City in Gyeonggi Province is launching a special inspection of local housing cooperatives where members have been suffering damages.

On the 24th, Yongin City announced that it plans to strengthen the operational status inspections of 13 local housing cooperatives within the city that are either in the member recruitment stage or have received establishment approval and are currently carrying out projects. The city will conduct special inspections twice a year, in the first and second halves, with the first half inspection scheduled for April.

The inspection targets are local housing cooperatives that are either recruiting members or conducting projects after establishment approval. A total of 13 cooperatives are subject to inspection: 8 in Cheoin-gu, 4 in Giheung-gu, and 1 in Suji-gu.

The special inspection will focus on compliance with regulations regarding member recruitment advertisements, the cooperative’s fund management, contract specifications, performance reporting, and disclosure of materials. Illegal acts such as posting unlawful banners containing false or exaggerated advertisements will be strictly administratively sanctioned.

Since most damages are due to prolonged project delays, the city plans to propose system improvements to the government accordingly. It will request the Ministry of Land, Infrastructure and Transport, the competent authority, to amend related laws to strengthen the required land use rights acquisition ratio for member recruitment from 50% to 75%, and to mandate annual accounting audits to enhance project transparency.

Meanwhile, since last year, the city has been operating a 'Permanent Counseling Team' to prevent damages caused by local housing cooperatives. This year, it also plans to produce and distribute promotional booklets containing specific damage cases.

A city official said, "We will strengthen inspections to ensure local housing cooperatives provide accurate information to members and actively improve the system to protect citizens’ property rights to the best of our ability."

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