Korea Association of Realtors Holds Real Estate Industry Day, Calls for "Coexistence with PropTech in the AI Era"

About 400 from industry, academia and research sectors
announce a vision for the future

The Korea Association of Realtors said the commemorative event for the 11th Real Estate Industry Day was held on the morning of November 11 at the CG Hall on the second floor of the Construction Association Building in Gangnam-gu, Seoul.

Kim Joungho, chairman of the Korea Federation of Real Estate Economic Organizations and president of the Korea Association of Realtors, is delivering the opening remarks. Korea Association of Realtors

About 400 people from across the real estate industry attended the ceremony, including officials from the Ministry of Land, Infrastructure and Transport, representatives of the nine real estate economic organizations that belong to the federation, PropTech entrepreneurs, academics, and researchers.

In his opening remarks, Kim Joungho, chairman of the Korea Federation of Real Estate Economic Organizations and president of the Korea Association of Realtors, said, "The real estate industry is now at a historic turning point amid rapidly changing economic conditions and the convergence of advanced digital technologies such as AI and big data." He added, "The federation will take the lead in establishing transparency and fairness in the real estate market to fully protect the public's valuable property rights, and in building an ecosystem where the industry can grow alongside new PropTech technologies, so that we can pass on a sustainable industry environment to future generations."

In his congratulatory address, Shin Yun-geun, Director General for Land Policy at the Ministry of Land, Infrastructure and Transport, said, "The real estate industry is evolving beyond simple brokerage, construction, and management into an integrated service industry combined with finance, IT, and mobility." He added, "The government will work to create a transparent and safe real estate transaction environment and will provide regulatory improvements and institutional support to foster growth in which advanced PropTech and traditional real estate services can thrive together."

The main event included awards recognizing contributions to the development of the real estate industry, honoring workers in the field who have helped improve housing welfare, promote fairer real estate transactions, and drive innovation in professional technology. Commendations included those from the Speaker of the National Assembly, the chair of the Land, Infrastructure and Transport Committee, and the Minister of Land, Infrastructure and Transport.

In the afternoon, a policy and academic seminar was held under the overarching theme "Strategies for the Sustainable Future Development of the Real Estate Industry in an Era of AI and Digital Innovation." Experts from academia and industry discussed trends in the PropTech industry, policy priorities for promoting the real estate services industry, and ways to analyze real estate data using AI and establish a secure transaction system.

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