Yangcheon-gu, Individual Official Land Price Comprehensive Survey

Decision and Disclosure Scheduled for May 31, 2021

[Asia Economy Reporter Jong-il Park] Yangcheon-gu (District Mayor Kim Soo-young) has commenced a comprehensive survey for determining individual publicly announced land prices as of January 1, 2021.

The individual publicly announced land price is the price per square meter by land lot number as of January 1. By January 29, 2021, a land characteristic survey including land use zone, land utilization status, and road frontage will be conducted for each individual land parcel. Based on 759 standard land parcels to be determined and announced by the Minister of Land, Infrastructure and Transport on February 1, 2021, prices will be calculated and then finalized and announced by May 31.

The finalized individual publicly announced land prices serve as the basis for levying national and local taxes related to land, as well as various charges.

For 2021, the survey covers 21,804 land parcels as of January 1. To ensure objectivity and fairness in pricing, a precise land characteristic survey will be conducted for each parcel, and balance with nearby land prices will be maintained to secure the reliability of the individual publicly announced land prices.

The district office will operate an appraisal consultation system during the individual land price viewing and objection periods, where certified appraisers will provide direct consultations at the district office civil service center to resolve all inquiries regarding individual land prices.

For land price complaints submitted through opinion submissions and objections, certified appraisers responsible for price verification and staff will visit the site to provide land characteristic information and explain price formation factors to residents, collecting their opinions. This will ensure resolution of all inquiries and complaints regarding individual land prices and demonstrate commitment to on-site administrative services.

Kim Soo-young, Mayor of Yangcheon-gu, stated, “Public interest in individual publicly announced land prices is increasing every year. We plan to continue providing transparent and highly reliable administrative services through accurate and objective investigations across all land price tasks, fostering administration in partnership with residents.”

For more details, please contact the Land Price Survey Team at the Real Estate Information Division of Yangcheon-gu Office.

This content was produced with the assistance of AI translation services.