The Korea Real Estate Board announced on the 20th that it has officially commenced the 'Laos Land Price Information System Construction Project,' valued at approximately 4.2 billion KRW, which was awarded last month.
This project is conducted as an Official Development Assistance (ODA) in the real estate sector by the Ministry of Land, Infrastructure and Transport. It is a project to establish legal and institutional consulting suited to the social conditions of Laos, as well as a mass real estate appraisal model and a land price information system, based on Korea's experience and technological expertise in operating the official land price system.
The Real Estate Board plans to build an ICT-based land price assessment system in Laos to modernize related institutions, reduce administrative costs and time, and enhance the efficiency of real estate administration.
Son Tae-rak, President of the Korea Real Estate Board, said, "I hope this will serve as an opportunity to widely promote Korea's excellent real estate policies and systems to the world," adding, "We will continue to expand our entry into overseas markets for real estate administrative infrastructure."
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