Land Ministry marks Real Estate Industry Day, unveils future vision

South Korea's Ministry of Land, Infrastructure and Transport announced Wednesday it will hold the 11th Real Estate Industry Day ceremony at the Construction Hall in Seoul to explore ways to advance real estate services that the public can trust.

Organized by the Korea Real Estate Economic Associations Federation and sponsored by the Korea Association of Realtors, the event will be held under the slogan "New Value, Real Estate Together — Opening the Future through Change and Innovation." Industry executives, government officials and representatives from nine related associations will gather to declare a shared vision for the sector.

The ceremony will be divided into two parts: an awards presentation honoring those who have contributed to housing stability and the development of the real estate industry, and a seminar exploring new directions for the sector. About 600 participants from industry, academia and research institutions are expected to attend, including Land Ministry Director General of Land Policy Shin Yun-geun and the head of the Korea Real Estate Economic Associations Federation.

At the awards presentation, the minister of Land, Infrastructure and Transport will present commendations to individuals who have contributed to the industry across a range of fields, including housing stability and technological innovation in real estate services.

Lee Guk-hyeong, chief executive of Korea Investment Real Estate Trust Co., was recognized for actively pursuing publicly supported private rental housing real estate investment trust projects using REITs and private capital, contributing to housing stability and the expansion of private rental housing supply. Cho Hyun-ho, chief executive of Hanwha 63 City Co., was recognized for introducing an ICT-based intelligent safety management system to proactively prevent serious workplace accidents, and for operating a safety and partnership program at certified worksites, helping to establish a field-centered safety culture.

Meanwhile, the Korea Real Estate Economic Associations Federation will partner with proptech startups to run a promotional space showcasing new real estate services — including AI- and big data-powered legal and tax consulting.

In the afternoon, a presentation will be delivered on the theme "40 Years of the Real Estate Industry — From Analog to AI: Achievements and Challenges of Digital Transformation." A roundtable will follow, featuring policy recommendations and discussion on "How AI and Data Are Reshaping the Real Estate Services Industry" from experts including Lee Sang-young, a professor at Myongji University.

In his remarks, Shin is expected to urge participants to "prepare for the future through bold change and innovation to create a stable living environment that people can truly feel."