The apartment management fee market is 33 trillion won per year... Focus on specific companies in computer and payment networks

(Seoul = Yonhap News) Reporter Noh Seon-woong = It has been pointed out that in the apartment management fee market worth 33 trillion won per year, computer systems and electronic payment networks are concentrated on specific operators.

As a result of analysis of data submitted by the Ministry of Land, Infrastructure and Transport's apartment management information system (K-apt) and financial companies by Rep. Son Myung-soo of the Democratic Party of Korea on the 26th, Company A recorded a 71.4% share by household in the management cost calculation and accounting ERP market as of last month. This figure is significantly ahead of the second-place operator (11.5%).

Company A was also found to have a virtual monopoly on the electronic bill payment (EBPP) market, which connects financial companies and management fee information. Among the management fee payments made by the four major banks and six card companies, the proportion linked to Company A reached 99.7-100%, and the annual payment processing amount alone exceeded KRW 11.47 trillion.

Representative Son pointed out that this concentration phenomenon is raising the entry barrier for new businesses, making service competition difficult, and ultimately limiting residents' service options.

Rep. Son said, “As it is a market close to daily life where 33 trillion won is exchanged annually, it is urgent for the government to check the actual situation,” and added, “The Fair Trade Commission must closely investigate whether there is a monopoly and create a fair competitive environment.”