Changwon City, Strong Measures Against Real Estate Speculation Groups in "Group KakaoTalk Chats, Apartment Cafes"

Gyeongnam Province and Local Police Station Joint Inspection ... 93 Violations Detected

Changwon City is visiting apartment management offices to promote awareness among residents to prevent participation in activities that disrupt the order of real estate transactions. (Photo by Changwon City)

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City in Gyeongnam conducted a joint inspection to block disruptive and illegal activities in real estate transactions caused by soaring housing prices.

The city carried out the joint inspection with Gyeongnam Province and the local police station from the 8th to the 10th.

The joint inspection focused on price manipulation activities on apartment residents' communication networks and illegal advertisements for price collusion within apartments.

So far, 121 real estate agencies have been intensively monitored, uncovering 93 violations, resulting in administrative actions such as business suspension and fines.

Among them were two cases of disruptive real estate transaction activities, including price manipulation and price collusion occurring in group KakaoTalk chat rooms and apartment cafes.

When disruptive real estate transaction activities are detected, criminal charges involving imprisonment of up to three years or fines up to 30 million KRW are imposed along with fines.

The city visited apartment management offices and requested promotion through announcements and bulletin boards to prevent residents from participating in disruptive real estate transaction activities.

Kim Donghwan, Director of the Architecture and Landscape Division, stated, "We will take strong measures against those who disrupt transaction order upon detection."