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The government's recent decision to cut real estate brokers' commissions is facing a backlash from the public — with some people saying they should have been cut more.
An employee of a real estate agency in Seoul on Thursday puts up a sign that the agency will temporarily close in protest of the government’s attempt to lower real estate agent commissions.
Brokerage commissions on property purchases are to be cut from 0.9 percent to 0.7 percent.
With the overheated housing market, the number of applicants taking the state-sponsored test to become a licensed real estate agent reached an all-time high this year.
Korea JoongAng Daily Sitemap