South Korean Ministry launches property database

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From the Korea Herald on 2007.11.14

The Ministry of Government Administration and Home Affairs is implementing a three-dimensional electronic mapping system, it announced yesterday.

The system will contain information on all plots of land and buildings in the country, including historical transactions and sale prices, allowing the government to manage real-estate information more easily and track property speculation, officials said yesterday.

“If there are too many transactions or unusually high sale prices in a certain region, the map will automatically detect this and highlight the region in red,” a ministry spokesperson said.

The map, which accumulates information in real time, will help the government enforce policies promptly, the spokesperson said.

Other ministries and the general public will have access to non-confidential information in the database.

By Koh Young-aah

(youngaah@heraldm.com)

2 Comments

Filed under Korea life, Real Estate

2 responses to “South Korean Ministry launches property database

  1. Idetrorce

    very interesting, but I don’t agree with you
    Idetrorce

  2. funny Iderorce…it’s an article from the Korea Herald. So, you would be disagreeing with the Korea Herald…not me. I didn’t express any opinions about this. Cheers.

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