Certification recognizes stability and reliability of real estate price assessment system

Korea Real Estate Board Deputy President Kim Dae-hwan (second from right) receives the AI Management System international standard certification at a ceremony held at the Korea Management Certification Institute headquarters on Tuesday. [Korea Real Estate Board]
Korea Real Estate Board Deputy President Kim Dae-hwan (second from right) receives the AI Management System international standard certification at a ceremony held at the Korea Management Certification Institute headquarters on Tuesday. [Korea Real Estate Board]

The Korea Real Estate Board said Friday it became the first agency under the Ministry of Land, Infrastructure and Transport to obtain the "AI Management System" international standard certification, having received the accreditation on Tuesday.

The certification is the world's first international standard in the AI field, established jointly by ISO and the International Electrotechnical Commission. It is awarded to organizations that demonstrate systematic processes for identifying and controlling algorithm errors and security risks that may arise when deploying and operating AI systems.

The accreditation recognizes the board's rigorous AI governance framework for handling large-scale national real estate data, and carries particular significance as the first such certification obtained by any agency under the Ministry of Land, Infrastructure and Transport.

The Korea Real Estate Board automatically calculates AI-based real estate market prices nationwide by combining vast real estate datasets with machine learning models and comparable-case models. It produces weekly sale and jeonse price estimates for about 16 million apartment units and about 1.2 million officetel units, using the figures as foundational data for public disclosure and statistical work, with further refinement through researcher verification.

These AI-generated real estate prices are shared with the Ministry of Land, Infrastructure and Transport and the Korea Housing and Urban Guarantee Corporation through the Anshim Jeonse app — a platform designed to help prevent jeonse fraud and support residential stability for tenants.

The board has also built a rigorous risk management framework to handle large volumes of real estate data securely. It has institutionalized thorough verification procedures to preempt potential AI algorithm distortions or data errors during large-scale data processing, and has strengthened its security environment against data breaches while establishing a risk identification process — positioning itself as a model for safe and controllable AI use.

"Real estate prices derived from AI technology not only support the public's wide range of real estate activities but also contribute to the growth of the real estate information technology industry, making it essential to secure stability and reliability," Korea Real Estate Board President Lee Heon-wook said. "Building on this international standard certification — the first obtained by any agency under the Ministry of Land, Infrastructure and Transport — we will continue to provide transparent and fair real estate services that the public can trust, and lead efforts to strengthen our standing as a national real estate policy infrastructure institution."

Meanwhile, the Korea Real Estate Board is actively integrating big data technology across its real estate research, analysis and administrative operations as it works to reinforce its role as a policy infrastructure institution.


hss@heraldcorp.com