The Korea Association of Property Appraisers (KAPA) has become the latest international property organisation to sign a memorandum of understanding (MOU) with the Australian Property Institute (API).

The signing represents another step towards realising the API’s goal to bring the global property profession community closer together with common standards, ethics, assurances and best practices.

API CEO, Amelia Hodge said, “We are very pleased to strengthen our relationship with KAPA by signing this MOU. The agreement is designed to facilitate collaboration and cooperation in the areas of property valuation research, standards, education and publication and we are very much looking forward to working with them.”

With more than 8,000 members, API is a provider of advanced professional training, education and certification in valuation theory, models and techniques. API operates primarily through its Charter Members who now have a presence in two countries around the world.

The Korea Association of Property Appraisers (KAPA) was established in 1989, in accordance with an Act on Public Notice of Real Estate Price and the Property Appraisal, KAPA has more than 4,000 members. It contributes to Korean economic development through the appraisal of land and other assets.  

The provisions of the MOU allow for, amongst other things:

  • Formal recognition of the credentials of both organisations
  • Joint education and training opportunities to be offered to members of both organisations at similar prices
  • A joint seminar on property valuations every two calendar years from 2020
  • The organisations to work together to develop joint resources
  • Distribution of information to each other’s members
  • Member benefits and education opportunities to be made available to members of both organisations

About the Australian Property Institute (API)

The Australian Property Institute (API) is the leading and contemporary membership organisation for property professionals. API sets and maintains the highest standards of professional practice, education, ethics and professional conduct for its members. In turn the work of API raises the bar for the entire property profession and advocates on a range of member issues with a range of stakeholders. API is committed to building and maintaining a strong base for the future of the property profession through broadening the expertise and knowledge of membership. As a result, API’s impartial, objective and independent advice is sought after by a broad range of organisations including all levels of Government.