The National Office of Investigation at the Korean National Police Agency announced on October 19 that it will conduct a "Special Crackdown on Real Estate Crimes" until March 15 of next year.
This crackdown aims to proactively prevent all illegal activities that disrupt market order in the real estate sector, in response to signs of a resurgence in illegal practices such as price manipulation exploiting expectations of rising home prices, particularly in certain areas of Seoul and the metropolitan region.
The main targets of the crackdown are eight types of illegal activities that undermine the fairness and transparency of the real estate market. This measure follows the government's housing market stabilization plan announced on October 15 and is closely coordinated with stabilization measures being implemented by the Ministry of Land, Infrastructure and Transport, the Financial Services Commission, and the National Tax Service.
For this operation, the National Office of Investigation has formed a dedicated investigative team of 841 members, led by the Director of the Investigation Bureau. The police also plan to actively recover assets acquired through criminal proceeds, with the city and provincial police agencies' criminal asset tracking teams taking the lead.
Park Sungju, Chief of the National Office of Investigation, stated, "We will fundamentally block real estate crimes that harm the public, such as illegal transactions and price manipulation," and urged, "If you witness illegal brokerage or price manipulation, please do not hesitate to report it."
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