Gyeonggi Province Extends Special Task Force for Real Estate Market Disruption Until Year-End

The Gyeonggi Provincial Government will extend the operation period of the "Special Task Force for Real Estate Market Disruption" for six more months, until the end of this year, in order to continue investigations into real estate market disturbance activities such as price collusion, real estate agent association collusion, and fraudulent housing subscriptions.

The extension, until December 31, comes as Gyeonggi Province seeks to align with the central government’s increased oversight of the real estate market and to maintain a constant monitoring system to detect market disturbance activities. The Special Task Force was originally scheduled to operate only until the end of last month.

The task force consists of eight special judicial police officers for real estate. It responds to market disturbances through monitoring for illegal activities in the real estate sector, receiving citizen reports, conducting investigations, and cooperating with related agencies.

Key achievements include the investigation of a housing price collusion case in Hanam City and a real estate agent association collusion case in Yongin City. In the Hanam City case, authorities uncovered organized collusion to artificially maintain or increase housing prices through online group chat rooms. Thirty-nine individuals were identified, and six of them were referred to the prosecution.

In the Yongin City case, three current and former executives of a real estate agency association were discovered and referred to the prosecution for running an exclusive transaction order—restricting co-brokerage with non-members and expelling association members who violated this rule.

As of the end of June this year, Gyeonggi Province had received a total of 51 reports through its real estate corruption hotline, of which six cases were selected for investigation.

Gyeonggi Provincial Government

During the extended operation period, the task force plans to prioritize follow-up investigations on previously reported cases requiring additional action. New reports will also be promptly reviewed to verify facts, and investigations will be launched immediately if illegal activity is confirmed. In addition, Gyeonggi Province will participate in the "Real Estate Illegal Activity Response Council" led by the Office for Government Policy Coordination, and will step up cooperation with related agencies such as the prosecution, police, and National Tax Service.

Imseong Son, Director-General of Urban Housing for Gyeonggi Province, stated, "Real estate market disturbance activities such as housing price collusion, real estate agent collusion, and fraudulent housing subscriptions are serious illegal acts that damage market fairness and transaction order. By extending the operation of the special task force, we will respond swiftly and strictly to increasingly organized and sophisticated illegal real estate activities and create a fair real estate trading environment that residents can trust."

Meanwhile, Gyeonggi Province operates a dedicated KakaoTalk channel for anonymous reports to eradicate real estate market disturbances. Residents who observe price collusion, fraudulent subscriptions, false listings, or illegal brokerage activities can search for the 'Gyeonggi Real Estate Corruption Report Hotline' channel on KakaoTalk or report cases through a QR code. Reports received will be promptly reviewed, and if illegal activity is confirmed, a thorough investigation will be carried out.

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