The new government’s ‘policy assistance’… Expand roles such as step-by-step integration procedure verification
‘Combination’ revealed its limits with ‘Dunchon Jugong’… Review of ‘activation’ such as trusts
In line with the new government’s vitalization of urban renewal projects, the Korea Real Estate Agency will cooperate by expanding the role of the maintenance project support organization, such as verification of estimated contributions and verification of step-by-step integration procedures. At the same time, the plan is to improve the problems of the cooperative method, which was revealed in the Dunchon Jugong case, and to prevent supply delays by finding ways to activate alternative business methods such as trusts.
According to the real estate industry on the 8th, the Korea Real Estate Agency recently placed an order for a research service on ‘support for activation and transparency of maintenance business support organizations’. After signing the contract, the research will be conducted for about 5 months.
The Real Estate Agency decided to redefine the role of the maintenance project support organization in accordance with the policy direction for the activation of private maintenance projects. The Real Estate Agency, which was designated as a maintenance project support organization in 2018, is in charge of providing public consultation for redevelopment and reconstruction maintenance projects, policy support for the maintenance project specialized management system, and support for the supply of publicly supported private rental housing through maintenance projects. It also plans to carry out tasks such as verification of estimated contributions and verification of step-by-step integration procedures, which have not been done.
As the new government is implementing a policy to revitalize private maintenance projects, the real estate agency’s plan is to provide policy assistance by expanding support for private maintenance worksites.
At the same time, improvement plans related to the maintenance project implementation method will be prepared. First of all, the problems with the cooperative method were analyzed and supplementary measures were drawn up. Methods to enhance the ethics and professionalism of organizations participating in the cooperative reconstruction project are also considered.
Maintenance projects are usually carried out in such a way that union members form a union, but in this case, the promotion process was insufficient or corruption occurred frequently as it was composed of ordinary people. As a result, the project was delayed, resulting in a delay in supply or an increase in the amount of contribution that union members had to pay. The real estate agency plans to find a way to solve this problem so that there is no disruption in supply.
He also ordered a study on how to activate the trust method that can replace the cooperative method. Trust-type reconstruction refers to the fact that, instead of the residents establishing a cooperative, the trust company is entrusted with the project, and the reconstruction is carried out from cost procurement to sale. Trust companies have the advantage of having the financial power to raise funds smoothly and have expertise in maintenance projects.
In addition, the development of a new reconstruction project method is expected to be carried out in parallel to diversify options. Currently, there are only two types of business: cooperatives and trusts.
An official from the Real Estate Agency said, “There was a problem with the union method such as the Dunchon Jugong case.
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