Online private property listings must state location, area and price — effective 17 December 2026 | fake listings face fines up to ₩5M
From 17 December 2026, anyone advertising a property transaction online must state the location, area, price and other prescribed details, and rental listings are included. Non-existent listings, false prices and exaggerated ads are prohibited as unfair advertising, with a fine of up to ₩5M. Errors and minor negligence are excluded.
Conditions used in the video
- Effective date
- 2026-12-17
- Promulgated
- 2026-06-16
- Basis
- Real Estate Transaction Reporting Act Article 23-3 (new) · Article 28(2)5
- Scope
- any online property transaction ad by anyone · rentals included
- Excluded
- licensed brokers' ads (Licensed Real Estate Agents Act Article 18-2)
- Fine
- up to ₩5M · errors and minor negligence excluded
Results
- Must state
- location · area · price and others (Presidential Decree)
- Prohibited
- non-existent listings · false prices · exaggeration
- Fine
- up to ₩5M
- Excluded
- inaccuracies from error or minor negligence
- Types of unfair ads
- Ministry of Land notice
- Brokers' ads
- existing Licensed Real Estate Agents Act as before
Why it works this way
Today, property advertising rules apply only to licensed brokers. Article 18-2 of the Licensed Real Estate Agents Act governs brokers' listings, but no law says what an owner must state when posting directly on a neighborhood app or a private-deal forum.
Real Estate Transaction Reporting Act Article 23-3 (effective 2026-12-17).
- Anyoneonline property transaction ads · rentals included
- Must statelocation · area · price and other items set by Presidential Decree
- Prohibitedunfair advertising (non-existent listings, false prices, exaggeration)
Licensed brokers' ads are outside this article and stay under the existing law.
Unfair advertising draws a fine of up to ₩5M. Inaccuracies from error or minor negligence are excluded. The targets are bait listings that do not exist and prices stated falsely.
The required items and the types of unfair ads are in subordinate rules.
- Required itemsPresidential Decree
- Detailed types of unfair adsMinistry of Land notice
- Stage two2027-06-17, platforms must verify and label the advertiser (Article 23-4)
The decree and notice are needed to know exactly which boxes an ad must fill.
This video and page describe a measure that has been promulgated but has not taken effect. Details may change through a decree or notice.
In short, from 17 December 2026 online private listings must state location, area and price, and ads for non-existent properties or false prices face a fine of up to ₩5M.
The legal basis
Drawn from government announcements and the statutes themselves as primary sources, covering only the relevant part.
Real Estate Transaction Reporting Act Article 23-3 (Disclosure duty and ban on unfair online property ads)
In force Effective 2026-12-17 (promulgated 2026-06-16; Addenda)
Any person advertising a real estate transaction (including leases) on the internet must state the location, area, price and other matters prescribed by Presidential Decree, and must not make unfair representations or advertisements such as non-existent properties or false prices. Licensed brokers' advertisements are excluded.
What this means
Private listings now have legally required boxes. Bait listings and false prices become fineable.
Real Estate Transaction Reporting Act Article 28(2)5 (Administrative fines)
In force Effective 2026-12-17
A person who fails to state the required matters or makes unfair representations or advertisements in violation of Article 23-3 is fined up to ₩5M. Inaccuracies from error or minor negligence are excluded.
What this means
An administrative fine, not a criminal penalty. Mistakes are excluded; deliberate false ads are the target.
Run it on your own numbers
The calculator opens with these conditions already filled in. Change the figures and your own case comes straight out.
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Frequently asked
Does it apply if I post my own flat for rent on a neighborhood app?
Yes. Any online property transaction ad by anyone is covered, and rental ads are included.
What must I state?
Location, area, price and so on. The exact items are set by Presidential Decree, which has not yet been issued.
Is a mistaken area figure fined?
Inaccuracies from error or minor negligence are excluded from the fine. Deliberate unfair ads such as non-existent listings or false prices are the target.
Do brokers' ads follow this article?
No. Licensed brokers' ads stay under Article 18-2 of the Licensed Real Estate Agents Act as before.
Results are estimates based on the inputs and on the rules as at the stated date. They may differ from a lender's actual assessment, and the rules change often. Take professional advice before any decision that matters.