Ministry Recommends In-Person Reporting Starting Tomorrow
No Penalties for Delayed Reports
The real estate transaction reporting service has been paralyzed for the second consecutive day due to a government network outage.
According to the Ministry of Land, Infrastructure and Transport on September 28, the "Real Estate Transaction Management System," which is linked to the government network, has not been operating normally as a result of the fire at the National Intelligence Resources Management Institute in Daejeon the previous day. As a result, it is currently impossible to report real estate sales or lease contracts via PC or mobile devices.
On the night of the 27th, a firefighter is placing a fire-damaged lithium-ion battery into a fire water tank at the fire scene of the National Intelligence Resources Management Institute in Yuseong District, Daejeon. Photo by Yonhap News
The Ministry of Land, Infrastructure and Transport advised, "If you need to report a transaction, please visit the relevant local government office in person after 9 a.m. on the following day (September 29) to proceed with the report." However, the ministry stated that measures will be taken to ensure there will be no disadvantages due to reporting delays.
According to the Enforcement Decree of the Real Estate Transaction Reporting Act, if a person is unable to fulfill the reporting obligation due to a natural disaster or similar reasons, the period during which the report was neglected is not counted. Normally, real estate sales and housing lease contracts must be reported within 30 days from the date the contract is signed.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
