In response to illegal real estate activities that disrupt the market, the government-wide "Real Estate Supervision Task Force" was launched on November 3.
Kim Yongsu, Deputy Minister of the Office for Government Policy Coordination, delivers a greeting at the launch ceremony of the Real Estate Supervision Task Force and the 1st Real Estate Illegal Activity Response Council held in the conference room of Sejong Bank Building in Sejong City on November 3, 2025. Photo by Yonhap News Agency
According to the Office for Government Policy Coordination, the task force is a permanent organization comprised of 18 members, including officials from the Office for Government Policy Coordination, the Ministry of Land, Infrastructure and Transport, the Ministry of the Interior and Safety, the Financial Services Commission, the National Tax Service, the National Police Agency, as well as related agencies such as the Korea Real Estate Board and the Financial Supervisory Service. The task force is headed by Deputy Minister Kim Yongsu.
Going forward, the task force will carry out work such as establishing a supervisory body for illegal real estate activities, sharing and cooperating on investigation and enforcement information among ministries, and operating the Real Estate Illegal Activities Response Council. In particular, it will be responsible for all practical preparations for the establishment of the supervisory body, including drafting and revising relevant laws, designing the organization, and securing personnel and budget.
On the afternoon of November 3, the task force held the first Real Estate Illegal Activities Response Council in Sejong City, where it discussed smooth information sharing between ministries and comprehensive response measures against illegal activities.
Deputy Minister Kim stated, "Illegal real estate activities not only disrupt the market, but also threaten the livelihoods and homes of ordinary citizens and young people, and seriously undermine the real economy. Through the Real Estate Supervision Task Force, a permanent organization comprised of experts from each ministry, we will respond to illegal real estate activities more swiftly and forcefully." He added, "We will provide the public with detailed information through the council on the status and results of investigations and enforcement actions against illegal activities currently being carried out by each ministry, as well as future plans. Going forward, the government will focus all its capabilities on responding to illegal real estate activities that disrupt the market, centering on the task force and the council."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
