Every time I bought a home or signed a lease, I felt anxious. Was there something I was missing in this property? Was this smiling agent standing before me truly trustworthy?
After signing the contract, registration took over ten days, and taxes had to be calculated separately. There were 240,000 fake listings, and 3 trillion won in jeonse fraud losses. The Korean real estate market, which transacted 364 trillion won annually, lacked safety measures. Now, however, a service has emerged that uses AI to proactively prevent risks and complete transactions in just three days.
The problem isn't people, it's the lack of a system.
“The problem with real estate transactions isn’t human error, but the lack of a system.”
Kim Dae-yong, CEO of Budikle, assisted in commercial real estate transactions at Remax Korea, a global real estate company, and witnessed hundreds of transactions. While working in the National Assembly, he identified loopholes in laws and regulations.
"There are over 30,000 victims of rental fraud, and the damages exceed 3 trillion won. The number of fake listings has increased 2.6 times compared to last year, exceeding 240,000. Registration errors occur 300,000 times a year, and tax overpayments exceed 6 trillion won."
He believed that these problems arose from a structure in which contracts, notarization, money exchange, registration, and tax payment were all carried out separately.
CEO Kim Dae-yong envisioned a solution: an AI financial security system as secure as a bank. It didn't just display properties; it ensured the transaction was completed safely from start to finish. This was the beginning of Budikle.
Born in 1981, CEO Kim Dae-yong has accumulated diverse experience, including working in the National Assembly, at a global real estate company, running a real estate community of 800 members, completing the KAIST National Future Strategy program, and holding an AI qualification.
“Each experience was not a standalone piece, but rather a puzzle piece that helped create a new real estate transaction system.”
At the National Assembly, I learned how systems work. At Remax, I witnessed repeated pitfalls in the field. While running a real estate group, I compiled data on fake listings and fraudulent tactics. Studying AI and finance, I learned how to design systems to prevent risk.
The Budik team's members are also exceptional. They include a diverse range of experts, including real estate appraisers, lawyers, accountants, AI engineers, and doctors.
“Real estate transactions cannot be resolved by a single expert.”
Securely control transactions with three AI engines.
Budikle isn't just a listing advertisement; it's a system that securely manages the entire transaction. At its core are three AI engines.
First, there's AI (patent pending) that verifies and recommends brokers. It analyzes brokers' qualifications, experience, violation history, and customer reviews to assign them a trust score. It automatically filters out fake listings. It prioritizes highly trusted brokers over those with high advertising costs.
Second, there's AI (patent pending) that analyzes transaction risk. It analyzes dozens of factors, including home ownership, taxes, delinquent payments, and patterns of jeonse fraud, to assign a risk score. If a transaction is deemed risky, it automatically halts the money exchange process.
Third, AI (patent pending) completes the transaction. It automatically manages eight steps: information collection, trust verification, risk analysis, electronic contracts, secure payment (escrow), registration, tax payment, and final reporting. This reduces the time it took over ten days to three or four, and reduces costs by 40%.
Budicle also plans to add faster and more accurate quantum computing technology here.
“AI analyzes the present, and quantum technology predicts the future.”
Budicle is preparing for the global market by applying for patents for this core technology in the United States, Europe, Japan, and Singapore.
CEO Kim Dae-yong recently unveiled an AI system that verifies brokers. Currently, work is underway to connect Toss with secure payments and to connect with law firms and accounting firms for automated registration and tax processing. The system, which will complete all transactions, will officially launch early next year.
According to him, user response has been enthusiastic. Reviews include, "This is the first service to display listings based on trust scores, not ad order," and "Worries about fake listings have been greatly reduced. The quality of consultations has significantly improved."
Brokers also welcomed the change. They said it was a "structure that favors brokers who work properly," and that "more genuine customers are coming in, and our transaction success rate has increased."
As AI for risk analysis was piloted, people experienced firsthand the safety. Problematic properties were automatically stopped before payment was made, and advance warnings of delinquent payments and tax issues were provided. The market considers Budikle the "Toss of the real estate market."
"Budicle is more than just a simple real estate service. It's an AI and quantum computer system that integrates 364 trillion won worth of real estate transactions into an AI-controlled and financial security system, ensuring safe transactions."
CEO Kim Dae-yong clearly outlined Budikle's goals: filtering out fake listings with AI, preventing lease fraud with AI risk analysis, and resolving registration and tax delays with AI automation. Transaction times will be cut in half and costs reduced by 40%. Furthermore, the company will leverage patents, AI, and quantum technology to expand into the global market.
While other real estate platforms simply showcase properties, Budikl is setting a new standard for completing transactions. The reason transactions are so uncertain is not because of people, but because of a lack of systems. CEO Kim Dae-yong and Budikl are creating precisely that system.
AI is beginning to solve problems that the 364 trillion won market has struggled to resolve. A new map of real estate transactions is being drawn.
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