Yongin City to Conduct Comprehensive Inspection of All Local Housing Cooperatives

Checking for Illegalities in Accounting Management and Member Recruitment

Yongin City, Gyeonggi Province announced on July 24 that it will conduct a three-week inspection of all local housing cooperatives currently operating within the city, running until August 8.

This inspection is being carried out in accordance with Yongin City's measures to prevent damage to cooperative members, as well as the Ministry of Land, Infrastructure and Transport's comprehensive inspection plan.

The inspection will review the overall operations of the cooperatives, including the status of cooperative management, any legal violations during member recruitment, the validity of selecting business agents, and the appropriateness of accounting management. If any violations are found, the city plans to issue corrective orders or take administrative action in accordance with relevant laws and regulations.

On July 22, the city, in cooperation with the Korea Real Estate Board, conducted a joint inspection of two local housing cooperatives, gathering opinions from cooperative members and identifying complaints.

Previously, in order to prevent damage to citizens and enhance the transparency of local housing cooperative operations, the city conducted its own inspection of 14 local housing cooperatives from April 22 to July 9.

Lee Sangil, Mayor of Yongin, stated, "We will continue to provide guidance, conduct inspections, and pursue institutional improvements for local housing cooperatives to prevent any harm to our citizens."

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