Korea Real Estate Board (REB) said it was designated as a “Public Architecture Support Center” by the Ministry of Land, Infrastructure and Transport (MOLIT) on March 7.
The Public Architecture Support Center is an MOLIT-designated specialization organization responsible for building public architectures and offering policy support in accordance with the Act on the Promotion of the Architecture Service Industry.
Ultimately, the goal is to improve public values and the quality of public architectures.
The center’s major responsibilities include architecture planking, operating design contests, and consultation and reply.
REB has successfully built and operated the “Architecture Design Contest Information Service,” digitalization of the whole design contest process, after the board was commissioned for the architecture service industry system (Architecture HUB) service by MOLIT in August 2022.
The system is a platform that provides policy information related to the architecture service industry, design contest information services and services divulging data.
REB is responsible for facilitating on-the-spot support of screening committees, and consulting on the operation of design contests in cooperation with Jeju, and six other member institutions of a consultation body that was established to back the support of design contests.
With the designation of REB as the Public Architecture Support Center, the board can perform responsibilities such as architecture planning, supporting the operation of architecture contests, creating public architecture policy support, such as education and consultation.
In particular, REB plans to devote itself to ramping up explanation sessions and education on service utilization to expand the architecture design contest information service of the Architecture HUB and upgrade the system.
REB President Sohn Tai-rak said, “The designation of REB as the Public Architecture Support Center has enabled the board to play pivotal roles in responsibilities of each stage of building public architectures, and we spare no efforts to build a fair and transparent design contest operation environment and ensure institutional development.”
Lee Jae-myung, chief of the Market Management Division at Korea Real Estate Board poses with participants at “Real Estate Conference 2025” at Tele- Convention Center of kyonggi University on Feb. 27.
REB Spearheads ‘Paperless Electronic Contract Era’
Korea Real Estate Board promoted an electronic contract system to create a transparent and safe real estate market.
REB introduced merits of an electronic contract system and how to utilize it at Real Estate Conference 2025, which was held at Tele- Convention Center, Kyonggi University, on Feb. 27.
The conference, organized by the Gyeonggi-do provincial government, was designed to prevent jeonse scams and create a safe real estate transaction environment.
REB made a presentation on the theme “Electronic Contract System” and set up a pavilion to promote the system.
REB’s electronic contract system is an innovative service in which contracts can be struck in an online format instead of using a paper contract.
The system enables both parties of contracts to ensure convenient, economical and safe transactions.
Lee Jae-myung, head of the Market Management Division at REB, said, “It is an honor that diverse participant organizations of the real estate market have gotten together at one place with one mind, and we strive to become real estate partners to add safety and values to people’s life.”
Apartment Transaction Prices Fall 0.01%,Rental Prices Rise 0.01%Weekly apartment price trends, released by Korea Real Estate Board, showed that overall apartment transaction prices across the nation dropped 0.01 percent in the first week of March.
The Seoul metropolitan area and Seoul saw prices expand increase while provincial areas saw prices declined.
An REB official said, “There were cases in which bid prices went up in reconstruction and major favored apartment complexes with contracts being struck with rising prices, but with some districts and complexes taking a wait-and-see attitude, overall prices in Seoul continued to rise.”
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