KOREA REAL ESTATE BOARD-Subscription Work

It is intended to expand the opportunities for house-less ordinary people to own their own houses by preventing the mass production of unqualified subscribers and by eradicating illegal actions in the subscription market through strengthened public management of house subscription work.

Oct. 1, 2018: REB is designated as an agency to perform house subscription work.
Jan. 9, 2020: The National Assembly passes the base statute (Housing Act) for REB to perform house subscription work.
Jan. 23, 2020: REB is designated as an agency to perform house subscription work in accordance with Article 56-2 of the Housing Act.

(People) Confirmation of received internet house subscriptions and winning result, and prior provision of information on subscription qualification, etc.
(Government) Enhancement of strategic response capability by monitoring the house subscription market (subscription competition rate, subscription rate, and subscription merits, etc. of each region, area, and type).
(Bank & project subject) Proxy reception of house subscriptions, sending and checking the list of winners, and management of the withdrawal of unqualified winners.

청약운영
- 국토교통부(정책수립) → 한국부동산원
- 사업주체(업무의뢰) → 한국부동산원
- 대행은행(계좌관리) → 한국부동산원
- 청약고객(청약신청) → 한국부동산원
청약시장관리
- 국토교통부: 시장관리 주관, 시장관리 계획수립
- 한국부동산원: 상시모니터링, 실질 현장점검, 청약시장 건전성 관리
- 사업주체: 자료제공, 적격심사

Based on consignment by banks and project subjects, REB performs subscription work such as the reception of subscriptions, selection of occupants, management of winners, and management of winners’ accounts, etc., and, in the case of rental houses, provides information for the management of lessees.

Reception of subscriptions of houses (apartment houses, officetels, and private lease, etc.) and selection of occupants.
Subscription operation work
Apartment houses	Management of project subjects Discussion on notification and registration Receipt of subscriptions Sending/Receipt of lottery information Selection and announcement of winners Management of winners	Officetel, private lease, and urban-type life houses	Management of project subject Discussion on notification and registration Sending/Receipt of lottery information Selection and announcement of winners Management of overlapping occupation
Management of public lease	Management of project subjects Discussion on notification and registration Management of ranking of subscription bankbooks Management of illegal transfers/subleases Management of overlapping occupation	Other work	Management of union house winners Service for lottery of building/room of union houses Management of list of winners and subscription accounts

Unlawful subscriptions and illegal actions (illegal resale, submission of false data for occupant qualification, and illegal transfer of subscription bankbooks, etc.) are eradicated, and the integrity of the subscription market is enhanced through ordinary monitoring of the subscription market, field audits, and support for the control of illegal actions.

Ordinary monitoring and field audit to strengthen public management of the subscription market
Subscription market management work
Ordinary monitoring	Subscription competition rate, trend of subscription market, situation of contracts, and number of not-sold houses, etc. are monitored for yearly whole selling complexes.	▶	The trend of the subscription market is identified in advance and used for field audits and support of control.
Field audit	Support of control of disrupters of the house supply order. Management of the list of disrupters of the house supply order.	▶	Illegal actions are eradicated and prevented by establishing systematic plans and conducting field audits.
Support of illegal action control	Joint auditing of illegal brokerage actions such as trade of subscription bankbooks, etc., adequate management of withdrawal and abandonment of contracts, and qualification of winners, etc. upon requests for support of control from the related organizations (Ministry of Land, Infrastructure and Transport and local governments).	▶	Transparency and integrity of the subscription market are enhanced.

Designation as an agency authorized to perform subscription work (Article 56-2 of Housing Act)

Legal basis
Category		Applicable Act	Receipt of subscriptions		Selection of occupants (lottery of building/room)
Category		Applicable Act	Self	REB	Self	REB
National housing & private housing	Country, local governments, LH, regional corporations and investment companies capitalized by them with 50% or more	Housing Act	√	√	-	√
National housing & private housing	Other project subjects	Housing Act	-	√	-	√
Officetel (Note 1)	Less than 300 rooms	Act on Sale of Building Units	√	√	√	√
Officetel (Note 1)	Not less than 300 rooms	Act on Sale of Building Units	-	√	-	√
Urban-type life houses		Housing Act	√	√	√	√
Private rental houses	Public support	Special Act on Private Rental Housing	√	√	√	√
Private rental houses	Long-term general, short-term	Special Act on Private Rental Housing	√	√	√	√
Public houses	Public sale, sales-conversion public lease	Special Act on Public Housing	(Special) LH,SH (General) LH	√ (Gyeonggi Corporation and regional corporations)	△(Note 3)	√
Public houses	Other public lease (Note 2)	Special Act on Public Housing	√	- (Rank confirmation letter)	√	-
House union, maintenance union		Housing Act, Act on the Improvement of Urban Areas and Residential Environments	-	-	-	√

(Note 1) An internet subscription agency performs obligatory reception and selection work in cases involving 300 or more rooms.

(Note 2) In the case of public rental houses not converted into sale, only rank confirmation letters are issued.

(Note 3) In the case of new-marriage hope towns, public project operators including LH, etc. select the occupants and draws lots for buildings/rooms.

(Winner management) Winner management under Article 57 of the Rule on Housing Supply, list management in accordance with Article 48-3 (Checking Occupancy of At Least Two Public Rental Housing Units); and Article 49-8 (Restrictions on Qualification for Tenants of Public Rental Housing Units) of the Special Act on Public Housing, and Article 42-2 (Verification of Taking Occupancy of Publicly-Funded Private Rental Housing and Other Housing Units) of the Special Act on Private Rental Housing.

REB: Korea Real Estate Board