A person passes by a real estate agent’s office in Seoul on Sept. 12, 2021. (Yonhap)
SEOUL, Dec. 1 (Korea Bizwire) — The government said Tuesday it will promote wider access to real estate-related public data as a way to cultivate the real estate service industry, including “proptech (property technology).”
As the first step in this move, the government decided to expand access to the real-estate public data that is a foundation for proptech services.
By releasing a vast amount of data produced and managed by the public sector to the private sector, the government aims to create a high-quality real estate data ecosystem.
To this end, the government plans to release not only the information on urban planning, building ledgers, and actual transaction prices, all of which are in high demand in the industry, but also data such as apartment complex identification information and actual transaction prices for factories, warehouses and transport facilities that have not yet opened.
In addition, the government will establish a ‘real estate-related big data platform’ to ensure effective management and usage of housing and land-related information that are produced by various public and private institutions.
Moreover, the government intends to set up a ‘data exchange’ where privately collected real estate information can be traded, aimed at supporting high quality data distribution.
J. S. Shin (js_shin@koreabizwire.com)
