Real Estate Brokerage Act Amendment Passes National Assembly on January 29… Association Becomes Statutory Organization for the First Time in 27 Years
The bill to partially amend the Real Estate Brokerage Act was passed at the plenary session of the National Assembly on January 29, 2026. With this amendment, the Korea Association of Real Estate Brokers regains its status as a statutory organization for the first time in 27 years since converting to a voluntary association in 1999.
The amendment is scheduled to take effect six months after its promulgation following deliberation by the Cabinet, and the actual application of the system is expected to take place in the second half of this year.
The core of this amendment lies in granting the association a legal basis to clarify its status as an official professional organization. A statutory organization is one whose basis for establishment is stipulated by law; it possesses the authority to present official opinions during the policy-making process and to enact ethical regulations and manage membership systems within an institutional framework.
Expanding the basis for policy participation… Strengthening professional representation
With its designation as a statutory organization, the association has secured a foundation to participate as an official policy partner in consultations with the government and the National Assembly. This signifies more than just the restoration of its status; it means that a channel has been established for the brokerage industry's voice to be structurally reflected within the institutional framework.
However, along with the expansion of authority, the management and supervision system will also be strengthened. The association's articles of incorporation and major regulations will be subject to government approval, and mechanisms have been established to allow for demands for correction regarding resolutions that violate laws. The industry cites how to establish a structure that balances public interest and autonomy as a future challenge.
Changes in industrial structure and the reality of the field
Recently, the real estate brokerage market has been rapidly reorganizing, moving beyond a structure centered on one-person offices to include the expansion of incorporation and franchising, as well as the widespread adoption of team-based sales models. In this process, the proportion of affiliated real estate agents is also gradually increasing. It is not difficult to find affiliated agents who directly meet with consumers and execute contracts at actual transaction sites.
Under the current system, the legal membership of the association consists of licensed real estate agents in private practice. While affiliated agents are also eligible to join, membership is not mandatory by law. Consequently, the association's decision-making structure is centered around representatives. Given that the industry's structure of responsibility and representation is designed around private agents, there are opinions suggesting that it needs to be aligned with the changed realities of the market.
Need to enhance the rights and status of affiliated real estate agents
As the market environment has changed, there are calls for the system to reflect the diverse structure of the workforce in a balanced manner. It is argued that discussions regarding the enhancement of rights, protection of interests, and support for strengthening professionalism also need to be held for affiliated real estate agents, who play a crucial role in transaction sites.
It is pointed out that, given the structural limitations that may result in their voices not being fully reflected, a careful approach is required to ensure their roles and contributions are appropriately incorporated into the system.
The industry is focusing its attention on whether this revision will go beyond restoring the association's legal status and serve as an opportunity to broadly reflect the changed market environment.
