Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Real Estate Board Act and those necessary for enforcing that Act. <Amended on Dec. 8, 2020>
Article 2(Types of shares) #
Stock issued by the Korea Real Estate Board (hereinafter referred to as the "Real Estate Board") under Article 5 of the Korea Real Estate Board Act (hereinafter referred to as the "Act") shall be registered common stock; and stock certificates shall be classified into 8 types: stock certificate of 1 share, stock certificate of 10 shares, stock certificate of 100 shares, stock certificate of 1,000 shares, stock certificate of 10,000 shares, stock certificate of 100,000 shares, certificate of 1 million shares, and certificate of 10 million shares. <Amended on Dec. 8, 2020>
Article 3(Par value per share and total number of issued shares) #
The amount of one share of stock issued by the Real Estate Board shall be 5,000 won, and the total number of shares of stock shall be the number calculated by dividing the capital of the Real Estate Board by the amount of one share. <Amended on Dec. 8, 2020>
Article 4(Amount of share capital) #
The date of issuance and total number of the shares to be issued, excluding shares to be underwritten by the Government, and the amount, date, and method of share capital shall be governed by the articles of incorporation.
Article 5(Registration of incorporation) #
Matters to be included in the registration of incorporation under Article 7 shall be as follows:
1. Purpose;
2. Name;
3. Location of the principal office;
4. Location of the branch or office;
5. Capital;
6. Methods of investment and the amount thereof;
7. Name and address of the CEO;
8. Names and addresses of executive officers other than the CEO;
9. Methods of giving public announcement.
Article 6(Registration of establishment of branch or office) #
Where the Real Estate Board establishes a branch office or other offices, it shall register the name, the location of the newly established branch office or other offices, and the date of establishment at the location of its main office within 2 weeks after such establishment.
[This Article Wholly Amended on Jan. 21, 2025]
Article 7(Registration of relocation) #
(1) Where the Real Estate Board relocates its main office, it shall register the new location and the date of relocation at the former location or new location within 2 weeks after such relocation.
(2) Where the Real Estate Board relocates its branch office or other offices, it shall register the new location and the date of relocation at the main location within 2 weeks after such relocation.
[This Article Wholly Amended on Jan. 21, 2025]
Article 8(Registration of changes) #
Where any matter registered under the subparagraphs of Article 5 or Article 6 is modified (excluding cases falling under the registration of relocation under Article 7), the Real Estate Board shall register such modification at the location of its main office within 3 weeks after such modification.
[This Article Wholly Amended on Jan. 21, 2025]
Article 9(Registration of appointment of agents) #
(1) Where the President appoints a representative in accordance with Article 10 of the Act, the Real Estate Board shall register the following matters at the location of the main office within 2 weeks after such appointment. The same shall apply to modification of any registered matters: <Amended on Dec. 8, 2020; Jan. 21, 2025>
1. The name and address of the agent;
2. The name and location of the principal office, branch, office, etc. to which the agent is appointed;
3. If the agent's authority is restricted, the details of such restriction.
(2) Where the President dismisses the representative appointed in accordance with Article 10 of the Act, the Real Estate Board shall register such dismissal at the location of the main office within 2 weeks after such dismissal. <Amended on Jan. 21, 2025>
Article 10(Documents attached to application for registration) #
Applications for registration shall be accompanied by the following documents:
1. In the case of the registration of incorporation under Article 5: The following documents:
a. Article of incorporation;
b. Documents proving the underwriting of stocks and investment in kind;
c. Documents certifying the payment of the stock investment;
d. Documents proving the qualifications of executive officers;
2. In the case of the registration of establishment of a branch or office under Article 6: The following documents:
a. Documents proving reasons for installation;
b. Certificate of registered matters of the principal office;
3. In the case of the registration of relocation or registration of changes under Articles 7 and 8: Documents proving the grounds therefor, respectively;
4. In the case of the registration of appointment of an agent under Article 9: The following documents:
a. Document proving that the appointment of an agent is made pursuant to Article 10 of the Act;
b. Where the authority of an agent is restricted pursuant to Article 9(1)3, documents proving such restriction.
Article 11(Counting of registration period) #
Where there is any matter requiring authorization from the Minister of Land, Infrastructure and Transport as registered matters of the Real Estate Board, the registration period shall be counted from the date on which the documents regarding the authorization arrive. <Amended on Dec. 8, 2020>
Article 12(Competent registry office) #
The district court, the branch office, or the registry office having jurisdiction over the location of the main office shall be in charge of the registration of the Real Estate Board.
[This Article Wholly Amended on Jan. 21, 2025]
Article 13(Duties) #
(1) "Duties prescribed by Presidential Decree" in subparagraph 3 of Article 12 of the Act means the following business affairs; in such cases, the affairs referred to in subparagraphs 1, 1-2, 1-3, and 2 through 4 shall apply only where the Real Estate Board is entrusted with or requested to perform the relevant affairs under any of the relevant statutes and regulations: <Amended on Feb. 9, 2018; Dec. 8, 2020>
1. Verification of facts necessary for inspection of business, property, etc. of a real estate investment trust, etc. under Article 39(1) of the Real Estate Investment Companies Act and the establishment and operation of an information system on real estate investment trusts under Article 49-6 of that Act (excluding the establishment and operation of a database on qualifications and completion of prior education of asset management specialists under Article 22 of that Act);
1-2. Scrutiny of reported matters under Article 6(3) of the Act on Report on Real Estate Transactions;
1-3. Duties of the center for reporting disturbance of real estate transaction order under Article 47-2(2) of the Licensed Real Estate Agents Act;
2. Collection of basic data for inspection of appropriateness under Article 8(1) of the Act on Appraisal and Certified Appraisers and analysis of the details of appraisal;
3. Examination of appraisal reports for compensation conducted by appraisal corporations, etc. at the request of project operators pursuant Article 68 of the Act on Acquisition of and Compensation for Land for Public Works Projects;
4. Verification of the validity of management and disposal plans under Article 78(2) of the Act on the Improvement of Urban Areas and Residential Environments and business activities of support organizations for improvement projects under Article 114 of that Act;
5. Examination of appraisal reports for secured loans at the request of financial institutions and institutions under Article 4(2) of the Enforcement Decree of the Act on Appraisal and Certified Appraisers (hereinafter referred to as "financial institutions, etc.") in accordance with the following standards:
a. A financial institution, etc. shall directly request the Real Estate Board to examine it after the appraisal report is issued and submitted to the financial institution, etc.;
b. Details of the examination shall be as to whether the appraisal report has complied with the procedures and methods under the relevant statutes and regulations.
Article 14(Approval for loan) #
(1) Where the Real Estate Board intends to obtain approval for taking out a loan pursuant to Article 13(2) of the Act, it shall submit to the Minister of Land, Infrastructure and Transport an application including the following matters: <Amended on Dec. 8, 2020>
1. Reason for the loan and the loan amount;
2. Entity intending to take out the loan;
3. Conditions for the loan;
4. Methods of repaying the loan and deadline therefor;
5. Other matters necessary for taking out and repaying the loan.
(2) Where the Minister of Land, Infrastructure and Transport intends to approve the borrowing of a loan in accordance with Article 13(2) of the Act, he or she shall consult with the Minister of Finance and Economy in advance. <Amended on Oct. 1, 2025>
Article 15(Transfer of earned surplus reserve to capital) #
(1) Where the Real Estate Board intends to transfer the earned surplus reserve to the capital in accordance with Article 14(3) of the Act, it shall consult with the Minister of Finance and Economy in advance before undergoing a resolution by the board of directors. <Amended on Dec. 8, 2020; Dec. 30, 2025>
(2) Where the Real Estate Board transfers the earned surplus reserve to the capital under paragraph (1), it shall report such fact to the Minister of Land, Infrastructure and Transport. <Amended on Dec. 8, 2020>
(3) The reserve funds under Article 14(4) of the Act shall be appropriated for making up for losses pursuant to paragraph (2) of that Article, and the rest shall be used for funds for the duties of the Real Estate Board for the following year. <Amended on Dec. 8, 2020>
Article 16(Issuance of bonds) #
(1) The plan for issuance of bonds under Article 15(3) of the Act shall include the following matters:
1. Purposes of issuance of bonds;
2. Methods of issuance of bonds;
3. Total value of bonds issued;
4. Value of each bond;
5. Interest rates of bonds;
6. Methods and timing of repayment of principal;
7. Methods and timing of payment of interest;
8. The issue price of bonds or the minimum issue price thereof.
(2) The Real Estate Board shall obtain approval from the Minister of Land, Infrastructure and Transport for a plan for the issuance of bonds for the relevant year under paragraph (1) within 2 months from the date the budget bill is finalized pursuant to Article 40(4) of the Act on the Management of Public Institutions. <Amended on Dec. 8, 2020>