Real Estate YouTuber's Villa Recommendation... Turns Out It's a Villa They Built Themselves? [2020 National Audit]

Real estate YouTuber A, who is recommending the area where the newly built villa of the company he co-represents is located (Provided by Kang Junhyun's office)

[Asia Economy Reporter Lee Chun-hee] As the government announces strong crackdowns and punishments for disruptive activities in the real estate market, cases have emerged where some YouTubers claiming to be real estate experts are disturbing the market and even gaining unfair profits.

On the 16th, according to an independent investigation by Kang Jun-hyun, a member of the National Assembly Land, Infrastructure and Transport Committee from the Democratic Party of Korea, a famous real estate YouTuber, Mr. A, was found to have influenced nearby market prices by recommending a specific area as an investment destination, while also recommending villas built by a construction company where he serves as co-CEO, thereby gaining unfair profits.

Mr. A operates his YouTube channel by providing real estate investment consultations to viewers and uploading the consultation content. In one video that recorded over 330,000 views, Mr. A recommends viewers requesting investment advice to buy real estate that meets the following conditions: ▲between Magoknaru Station and Sinbanghwa Station in Magok District, Gangseo-gu ▲near Songhwa Elementary School ▲newly built multi-family housing with elevators. The problem is that the act of designating a specific area as an investment destination itself can be a market disruption that drives up real estate prices in the surrounding area.

A villa built by B Construction, where Mr. A serves as co-CEO. It matches exactly the elements recommended by Mr. A. (Provided by Office of Assemblyman Kang Jun-hyun)

Furthermore, according to the investigation by Kang Jun-hyun’s office, at the time the video was posted, there was only one property that met the conditions. It was a multi-family housing complex consisting of two complexes, five buildings, and 61 households built by Construction Company B, equipped with elevators. However, the construction company was one where Mr. A was serving as one of the co-CEOs. Representative Kang pointed out, "He recommended the villas he built as a good investment destination to investors and gained unfair profits," adding, "He filled his own pockets under the guise of providing real estate information."

Representative Kang Jun-hyun emphasized, "With the current Ministry of Land, Infrastructure and Transport’s Real Estate Market Illegal Activities Response Team, it is difficult to investigate, crack down, and punish market disruption cases like Mr. A’s," and stressed, "The establishment of a Real Estate Transaction Analysis Institute is absolutely necessary to stabilize the real estate market and block illegal activities."