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Since the opening of the Korean real estate market in 1998, foreign real estate funds have invested in various types of properties and have been involved in large-scale real estate development projects in Korea. Recently, Korea has seen increasing real estate investment opportunities from European countries and countries that have long standing historical and economic relations with the European countries, such as Australia and Singapore.
Accordingly, the Real Estate Committee was set up within EUCCK to provide members with a better understanding of market practice, up-to-date changes in regulations and compliance requirements, interpretation of theories, laws and practice in the field of real estate and strengthening networks among members as well as with the Korean business community and relevant governmental authorities by sharing issues and conveying matters of mutual concern and interests. |
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Stimulate European investment in many of the real estate projects that have been announced by the local governments.
It will also help to build closer coordination between the industry and the different arms of the government including the Ministry of Construction & Transportation, Ministry of Finance & Economy and Financial Supervisory Service. |
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| In the near future, the Committee plans to set up a dedicated website which will act as a one-stop shop for all the companies which are active in the real estate industry. It will be a tool of communication and information dissemination that will provide vital inputs for the companies. The website will provide the latest market practice and interpretation of various complex real estate issues, structures for acquisition, real estate developments, compliance, regulatory and licensing issues. |
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