Significant Milestone Attained: ASA Approves Inaugural Designated Member from Korean Valuation Professional Organization (KAPA)

March 6, 2024

ASA is thrilled to announce the accreditation of Jae Heon Choi, ASA, marking a significant milestone as he becomes the first ASA designated member in business valuation from the Korean Association of Property Appraisers (KAPA). This accomplishment is noteworthy, with Mr. Choi leading the way for nine additional KAPA members who have applied for ASA membership. These individuals have successfully completed ASA's four Principles of Valuation courses, which were instructed by Paul Baumann, ASA, and Jeffrey Tarbell, ASA, in Korea last year.

The journey began in 2018 when officials from KAPA visited the ASA headquarters in Virginia to sign a Memorandum of Understanding (MOU). The agreement paved the way for ASA to provide business valuation education in Korea, fostering a collaborative relationship between the two organizations.

Established in 1989 in accordance with the Act on Public Notice of Real Estate Price and the Property Appraisal, KAPA has played a vital role in Korean economic development through precise appraisal of land and other assets. The organization is dedicated to enhancing professionalism, safeguarding the rights and interests, and promoting the welfare of Certified Appraisers. KAPA's mission extends to improving appraisal systems, expanding work areas, strengthening relations with international organizations, fostering the sound development of the appraisal industry, and contributing to public interest.