Korea Housing & Urban Guarantee Corporation (HUG) said on the 9th that it automated the drafting of basic screening data for auctioned and public auctioned properties for purchasing Dundeun jeonse dwellings by introducing an AX-based work support system for screening. Dundeun jeonse dwellings is a project in which HUG directly purchases dwellings for which it has repaid the jeonse deposit and supplies them as public rental dwellings to members of households without homes.
HUG used an AI auto-analysis program to automatically extract information needed for preliminary screening, such as dwelling type and rights relationships, from real estate registry transcripts and to generate basic preliminary screening data. Previously, employees checked each registry transcript property by property and manually entered the relevant information.
As a result of the pilot operation, the time to draft basic preliminary screening data per registry transcript decreased from about 2 minutes 30 seconds to 10 seconds, reducing processing time by 93%.
HUG plans to gradually expand the scope of auto-analysis to appraisals and statements of sale particulars and to pursue the establishment of an AI-based screening support platform for auctions and public auctions.