“Freeze! Mobile Brokers !”

The Ministry of Construction and Transportation revealed its plan for launching a joint investigation team with the Seoul city government, the Kyonggi government, and the National Association of Real Estate Brokers, to control the illegal activities of the real estate agents in Seoul and Kyonggi Province.

MCT built up 5 task forces and set for the investigation on the hot areas of the speculative investment including Seocho, Kangnam, Songpa in Seoul, and Pundang and Ilsan in Kyonggi. Particularly, the crackdown will concentrate on the illegal activities of so-called `mobile brokers`.

Kang Kyo-Shik, director of the land bureau, said that "we will investigate on the illegal activities of the real estate agents closed after the announcement of the government measures such as tax probe."

The joint investigation team will crackdown the activities such as sales of the occupancy rights with premium by the real estate agents or transactions of the deposit passbooks or certification subscribed for the purchase of apartment, opening of `mobile brokers` by the real estate agents located in other districts, illegal real estate agents, or spreading false information about the reconstruction or re-development of apartment complex.

Ja-Ryong Koo bonhong@donga.com