Kim Yoonduk, Minister of Land, Says "Weekly Apartment Price Statistics Should Be Abolished" [Real Estate AtoZ]

[2025 Parliamentary Audit]
"Fully Agree" at the Audit
Acknowledges Criticism That Statistics Fuel Price Confusion and Volatility
Korea Real Estate Board Data Revised During Moon Jae-in Administration Controversy

Kim Yoonduk, Minister of Land, Infrastructure and Transport, has mentioned the possibility of abolishing the weekly apartment price trend statistics released by the Korea Real Estate Board. This comes in response to criticism that the weekly statistics, which lack accuracy, actually increase market confusion and volatility.

Yonhap News Agency

On October 13, during a parliamentary audit by the National Assembly's Land, Infrastructure and Transport Committee, Minister Kim stated, "I fully agree with the idea of abolishing it in terms of the overall trend," and added, "We will quickly compile a research report and take measures to reduce the negative effects of these statistical issues."

Lee Yeonhee, a lawmaker from the Democratic Party of Korea who raised the question, pointed out, "South Korea is the only country in the world to release weekly apartment price trends," and added, "When there are no transactions, the statistics reflect asking prices or real estate agency opinions, so actual transaction prices are not properly reflected, which only fuels price confusion."

The weekly statistics from the Korea Real Estate Board are based on sample surveys and have been criticized for their lack of accuracy. In April, a report from the Board of Audit and Inspection revealed that the statistics had been revised under the direction of the Blue House during the Moon Jae-in administration, which dealt a significant blow to their credibility.

Meanwhile, during the audit, Minister Kim also emphasized his commitment to faithfully implementing the "September 7 Housing Supply Expansion Plan" announced last month. He stated, "We will start construction on 1.35 million housing units in the Seoul metropolitan area by 2030, and expand supply within city centers by revitalizing complex redevelopment of aging government buildings and public-led urban renewal projects."

Additionally, regarding market-disrupting activities such as false transaction reports aimed at manipulating market prices, he said, "I will coordinate with the Commissioner General of the National Investigation Headquarters to swiftly conduct a comprehensive investigation," expressing a firm stance on strict enforcement.