Kim Dongyeon, Governor of Gyeonggi Province, has pledged to track down and punish market-disrupting activities such as collusion on housing prices to the very end.
In a post uploaded to his social media (SNS) accounts on the 26th, Governor Kim wrote, "I met with a licensed real estate agent who has been suffering business disruptions due to 'targeting' by those colluding on housing prices," adding, "Some homeowners who colluded to fix housing prices by effectively banning listings below 1.1 billion won reportedly even filed reports labeling legitimate listings as fake ones."
He continued, "The licensed real estate agent has been under pressure day and night, and sellers who urgently needed to put their homes on the market also suffered damage because they were unable to sell in a timely manner," stressing, "These kinds of actions that disrupt the real estate market must now be eradicated at the root."
Text and photos posted by Kim Dongyeon, governor of Gyeonggi Province, on his social media on the 26th
In particular, he vowed, "Gyeonggi Province will serve as a shield for fair real estate transactions," and added, "We will apply a zero-tolerance policy to market-disrupting forces, track them down to the end, and make sure they are punished and eliminated."
He also said, "Reports from residents of the province are important," and urged, "We will pay up to 500 million won in rewards to public-interest whistleblowers who report acts that disrupt the real estate market, and we will thoroughly protect the identity of informants, so please feel safe to come forward."
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