Designation of Land Transaction Permission Zones for 8 New Residential Sites... Including Uiwang, Gunpo, Ansan, and More

From September 5 to September 4, 2023
Blocking Speculative Inflows... Also Considering Actual Transaction Investigations

Yoon Sung-won, 1st Vice Minister of the Ministry of Land, Infrastructure and Transport, is announcing the 3rd New Public Land Development Plan to expand housing supply in metropolitan areas at the Government Sejong Complex in Sejong City on the morning of the 30th. From left: Jeong Hae-gyo, Director of Urban Housing Bureau, Daejeon City; Lee Yong-cheol, 1st Deputy Governor of Gyeonggi Province; Yoon Sung-won, 1st Vice Minister; Cho Taek-sang, Deputy Mayor for Balanced Development, Incheon City; Ryu Im-cheol, Deputy Mayor of Sejong City.
Photo by Yonhap News

The Ministry of Land, Infrastructure and Transport announced on the 30th that 7 out of 10 newly designated public housing sites from the 3rd round, along with a total area of 41.18㎢ around the Gwacheon Galhyeon district in Gyeonggi-do announced on the 25th, will be designated as land transaction permission zones.

Among the 10 newly announced housing sites, 7 locations including Uiwang, Gunpo, Ansan, Hwaseong Jinan, Yangju Jangheung, Hwaseong Bongdam 3, Daejeon Jukdong 2, Sejong Jochiwon, and Sejong Yeongi were grouped as land transaction permission zones. Excluded were Gurigyo-mun and Incheon Guwol 2, where provincial governors have designation authority, and Namyangju Jingeon, which was already designated as a permission zone.

The designated areas for land transaction permission zones are Uiwang, Gunpo, Ansan 13.4㎢, Hwaseong Jinan 4.52㎢, Hwaseong Bongdam 3 9.25㎢, Yangju Jangheung 4.56㎢, Gwacheon Galhyeon 0.36㎢, etc. Daejeon Jukdong 2 0.84㎢, Sejong Jochiwon 6.51㎢, and Sejong Yeongi 1.74㎢ are also included.

These are the project sites and nearby areas including the relevant dong (neighborhood) or ri (village). The designation will be effective for two years from September 5, 2023, to September 4, 2025.

In land transaction permission zones, local government approval is required for land transactions. In urban areas, approval is required if the transaction exceeds 180㎡ in residential zones, 100㎡ in green zones, and outside urban areas, 500㎡ for farmland and 1000㎡ for forest land.

Since the new housing sites are located in the metropolitan area and major provincial cities, speculative demand is expected to flow in once development projects proceed.

Kim Hyung-seok, Director of Land Policy at the Ministry of Land, Infrastructure and Transport, said, "We will closely monitor market conditions and, if necessary, conduct actual transaction investigations and designate additional permission zones," adding, "We plan to make every effort to block factors causing market instability."

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