GenstarMate, the largest commercial real estate comprehensive service corporations in Korea, said on the 16th that it signed a memorandum of understanding (MOU) with the Seoul Regional Headquarters of the Korea Real Estate Board (REB) on Dec. 22 last year to conduct a commercial real estate trend survey.
The agreement was prepared to enhance the analytical capacity for the commercial real estate market based on the expertise and data held by both institutions, and to contribute to protecting the rights and interests of real estate market consumers and to the development of the industry as a whole.
Under the agreement, the two sides will continue cooperation in various areas, including ▲ mutual exchange of information related to the domestic commercial real estate market ▲ joint research on market trends ▲ establishing a consulting structure based on lease information.
GenstarMate expects that cooperation with the Korea Real Estate Board (REB) will increase the transparency and credibility of the commercial real estate market and make more sophisticated market analysis possible.
In particular, the collaboration between the Korea Real Estate Board (REB), which has capabilities in public real estate statistics and surveys, and GenstarMate, which has accumulated field-centered asset management and consulting experience, is seen as a way to produce effective market insights.
Choi Jin-won, chief executive of GenstarMate, said, "This MOU is a meaningful starting point for cooperation between the public and private sectors to analyze the commercial real estate market," and added, "We will work to provide practical help to investors and market participants through highly reliable market information and analysis."
Park Haeng-gyu, head of the Seoul Regional Headquarters of the Korea Real Estate Board (REB), said, "With this memorandum of understanding, we will be able to more precisely reflect data from private-sector sites in the process of compiling commercial real estate statistics and conducting surveys," and added, "We will continue to improve the accuracy and credibility of commercial real estate statistics."