AI to Detect Abnormal Transactions and Open Up Big Data... 2nd Real Estate Industry Promotion Plan Announced

Announcement on the 19th

In the future, artificial intelligence (AI) will be able to detect suspected cases of rental fraud or speculative real estate transactions, ushering in an era where anyone can easily buy and sell real estate big data.

On June 18, the Ministry of Land, Infrastructure and Transport announced the “2nd Basic Plan for the Promotion of the Real Estate Service Industry (2026–2030),” which outlines these goals. This is a mid- to long-term plan detailing the direction for fostering the real estate industry and strengthening market transparency over the next five years. Its core strategies include fostering the real estate data industry, enhancing transparency in the traditional real estate sector, and providing AI-based consumer protection. The real estate service industry encompasses a wide range of fields, including licensed brokerage for buying and selling homes or land, real estate appraisal, development for constructing and selling land and buildings, property management, and app and platform businesses dealing with real estate information (proptech).

Energy consumption service screen by commercial district nationwide on the "Real Estate Big Data Platform" website. Ministry of Land, Infrastructure and Transport

First, the government will pave the way for companies to freely utilize real estate-related data. The key tool in this initiative is the “Real Estate Big Data Platform” operated by the Ministry of Land, Infrastructure and Transport. This platform brings together 279 types of data accumulated during real estate development, supply, transactions, and management. Since January of this year, it has been transformed into an “open market” where anyone can buy and sell this data.

Going forward, the government plans to open an open API that allows external programs to automatically access platform data. AI technology will be integrated to automatically identify, recommend, and even refine the desired data. The aim is to enable emerging industries such as proptech—which create real estate apps—to launch new services based on this data foundation.

Nontransparent practices will also be overhauled. Punishments for illegal activities, such as collusion among brokers, will be strengthened. Appraisal reports, which have been exchanged on paper and are vulnerable to forgery or alteration, will now incorporate a QR code verification system to enhance credibility. The government will also introduce a system for verifying the performance of real estate development projects and an integrated project financing (PF) management system to transparently manage business history and capital flows. For the REITs (Real Estate Investment Trusts) market, disclosure requirements will be strengthened and board oversight systems will be revised. In addition, sales agency businesses—which have been in a legal blind spot—will be incorporated into the regulatory framework to establish consumer protection measures.

AI will also be fully deployed to monitor real estate transactions. The government plans to build a system that uses AI to analyze transaction report data and automatically flag suspicious cases of abnormal transactions. This is intended to more quickly detect false transactions, disguised gifts, and cases suspected of price manipulation. Countermeasures to prevent damage from speculative real estate schemes are also included. In order to prevent fraud schemes, such as land sales using fractional ownership, information disclosure and explanation obligations for real estate sales corporations and direct transaction platform operators will be strengthened.

Jeonghui Han, Director of the Land Policy Division at the Ministry of Land, Infrastructure and Transport, stated, “We will transform the market based on data and AI, eliminate nontransparent practices, and build a sound market that the public can trust.”

This content was produced with the assistance of AI translation services.