Korea Real Estate Board In-house Venture B&Sir, M&A Agreement with Ddukkeobi Sesang

The Korea Real Estate Board announced on the 20th that its in-house venture 'B&Answer' has completed a merger and acquisition (M&A) with the real estate direct transaction platform 'Dukkeobi Sesang.'

Korea Real Estate Board Daegu Headquarters Exterior / Photo by Korea Real Estate Board

This M&A was conducted by Dukkeobi Sesang acquiring new shares issued by B&Answer to become the largest shareholder, and the related procedures were completed on the 19th.

Dukkeobi Sesang, which acquired shares of B&Answer, operates 'Peter Pan's Good Room Finding,' the largest real estate direct transaction platform in Korea. It also has subsidiaries such as the apartment lifestyle total platforms 'Apartner' and 'Apartstory,' and the real estate big data platform 'Asil.'

B&Answer, which started as the second in-house venture of the Korea Real Estate Board in 2019, successfully spun off independently in March 2021 and was recognized for its business potential by developing and patenting a 'Real Estate Transaction Risk Analysis Service Provision System.'

In addition, through the launch of the ICU (Aiku) system that protects real estate consumers from risks such as real estate fraud or unfair transactions represented by empty lease contracts and legal risks, it succeeded in commercializing a revenue-generating business. Last year, it also won the grand prize in the 'Digital Innovation Startup Companies' selected by the Korea Asset Management Corporation.

Kim Younghyuk and Park Alchan, co-CEOs of B&Answer, said, "We will launch new services by combining Dukkeobi Sesang's platform infrastructure with B&Answer's expertise. The currently planned service aims to create a new transaction culture by enhancing transaction stability and service experience at the contact point between market experts such as licensed real estate agents and general real estate consumers."

Son Taerak, President of the Korea Real Estate Board, said, "This M&A agreement is an excellent case that revitalized the private startup ecosystem through support for innovative startups. We will take the lead in continuous job creation and realization of social value based on excellent personnel and expertise in the public sector."