(1) Reasons for Proposal

The recent public announcement of real estate values by Everland has triggered suspicion over the transparency of officially announced prices of representative land. In response, critics say that the publicly announced price system for real estate should be more transparent; and the procedures thereof be bound by a stirct rule. Therefore, the Amendment aims to provide the grounds for designating specialized inspectors for special lands with a high degree of difficulty in performing the job; to extend the scope of appraisal business entities subjects to job performance evaluation to include small and medium-sized corporations just like the scope of business entities subject to public announcement business; and to restrict eligibility for inspectors of public announcement business by preventing undeserving inspectors from participating in the public announcement business.

(2) Major Provisions

A. Provide the grounds for designating inspectors for special lands (Article 3)

B. Extend the scope of appraisal business entities subject to job performance evaluation (Article 5)

C. Restrict eligibility for appraisers of the public announcement business (Article 6)