"Helping Wildfire Victims Instead of Inauguration Ceremony"... Korea Association of Realtors Donates 160 Million Won for Wildfire Relief

Association Delivers Entire Inauguration Budget and Member Donations to Hope Bridge
Practicing Social Solidarity Despite Industry Downturn... Heartwarming Sharing Amid 'Negative Growth'
President Kim Jongho: "Public Interest Comes First... Fulfilling Social Responsibility as a Professional Organization"

Despite the downturn in the real estate market, the Korea Association of Realtors has not forgotten its social responsibility and has stepped up to support victims of large-scale wildfires. On April 18, the Korea Association of Realtors announced that it had donated 161,630,000 won, collected from its members, to Hope Bridge Korea Disaster Relief Association to aid recovery efforts following recent wildfires in the Yeongnam region. The donation was delivered through MBN Broadcasting on the same day, with President Kim Jongho and Secretary General Shin Hoon of Hope Bridge, as well as officials from both organizations, in attendance.

President Kim Jongho of the Korea Association of Realtors (left) and Secretary General Shin Hoon of Hope Bridge. Provided by the Korea Association of Realtors.

This donation goes beyond a simple act of giving; it was made possible by the association’s bold decision to forgo its official schedule. The association canceled the 14th president’s inauguration ceremony, which had been scheduled for April 23, and donated the entire budget for the event along with additional funds voluntarily contributed by its members. The funds were raised through a “Wildfire Relief Fundraising Campaign” held from March 28 to April 17. The donations will be used for emergency relief for victims and for the restoration of affected areas.

President Kim Jongho stated, “I believed that offering comfort and hope in the face of a national disaster was far more meaningful than holding an inauguration ceremony,” and added, “We will continue to focus on our public role as a professional organization that fulfills its social responsibilities.” Hope Bridge Secretary General Shin Hoon also expressed gratitude, saying, “I deeply thank the association’s members for practicing sharing even during difficult times. We will do our best to ensure that this heartfelt donation provides real support to those affected.”

This donation is particularly noteworthy as it comes at a time when the real estate brokerage industry is experiencing an unprecedented slump. According to the association, only 1,796 new realtors opened businesses in January and February this year, marking the lowest number in 25 years since 2000. During the same period, 1,804 realtors closed their businesses, surpassing the number of new openings. The industry is facing a sharp decline in transaction volume due to the economic slowdown and difficulties in recovering key money deposits, forcing many agencies to continue operating under tough circumstances. Despite these challenging conditions, the association has demonstrated social solidarity.