The new numbering system is being developed by the government to systematically track and manage the entire process of licensing, completion, and demolition. (image: Yonhap)
SEOUL, Jan. 22 (Korea Bizwire) — The Ministry of Land, Infrastructure, and Transport and the Korea Appraisal Board on Monday announced that they are developing a ‘housing registration number’ that assigns unique numbers to all South Korean homes.
Housing registration numbers are similar to resident registration numbers, except they reference houses instead of people.
The new numbering system is being developed by the government to systematically track and manage the entire process of licensing, completion, and demolition.
Furthermore, based on the registration number, various housing statistics will be established by linking housing information from each related organization.
According to the Korea Appraisal Board, current housing-related administrative information is held by local governments, the National Tax Service, and Statistics Korea.
However, without any registration number, it is difficult to share and link the information written in each document by each organization.
Housing Registration Numbers are expected to be composed of 16 digits in total considering the date of approval of the building.
The Korea Appraisal Board has recently completed a simulation on numbering houses and plans to conduct further research on newly licensed houses.
As soon as the research is completed, the government will assign registration numbers starting from 2021.
D. M. Park (dmpark@koreabizwire.com)
