REB: Korea Real Estate Board

Article 6 (Scrutiny of Reported Matters)

• ③ If necessary to verify matters reported under Article 3, 3-2, or 8, the Minister of Land, Infrastructure and Transport may conduct scrutiny of reported matters directly or jointly with a report-receiving authority, notwithstanding paragraph (1).

Article 25-3 (Delegation or Entrustment of Authority)

• ② The Minister of Land, Infrastructure and Transportation may entrust a public agency having expertise in the real estate market with the establishment and operation of a system for verifying real estate transaction prices under Article 5, scrutiny of reported matters under Article 6(3), and the establishment and operation of a real estate information system under Article 25, as prescribed by Presidential Decree.

Article 19-4 (Entrustment of Business)

• The Minister of Land, Infrastructure and Transport shall entrust the following business under Article 25-3(2) of the Act to the Korea Real Estate Board under the Korea Real Estate Board Act
  • 1. Establishment and operation of the real estate transaction price verification system under Article 3(1) of the Act
  • 1-2. The following business for scrutiny of reported matters under Article 6(3) of the Act
    • A. Subjects of scrutiny
    • B. Request for and receipt of materials that are missing and/or incorrect or materials to verify the authenticity of reported matters
    • C. Consideration of the appropriateness of materials received under Item B; and
    • D. Business required to conduct the business under Items A through C; and
  • 2. Establishment and operation of the real estate information system under Article 25 of the Act