Abstract
With the enactment of the Korea Appraisal Board Act in 2016, the Korea Appraisal Board stopped appraisal work, which had been in competition with the appraisal industry, and focused on public affairs such as real estate price announcement, statistics, and surveys. However, as the industry continued to raise an issue with the Board’s name, claiming that the term “appraisal” still caused confusion in the appraisal market, the need for revision increased. In response, the National Assembly passed the Korea Real Estate Board Act, which replaced the Korea Appraisal Board Act, in a plenary session on May 20, 2020. Accordingly, the launch of the Korea Real Estate Board (tentative name) is expected to mark a turning point for the policy of the real estate market and industry. Therefore, this paper examines the legislative history of the Korea Real Estate Board Act and the major legal functions of the Korea Real Estate Board, and suggests the legislative policy tasks to be reviewed ahead of the launch of the Korea Real Estate Board in 2021.
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