KRC Reduces Land Purchase Compensation Time from 12 to 8 Months by Utilizing ICT System

"Full-Scale Promotion of Electronic Acceptance and Decision Function Saves 7.3 Billion Since 2018"

Exterior view of the Korea Rural Community Corporation headquarters. (Photo by Korea Rural Community Corporation)

[Sejong=Asia Economy Reporter Moon Chaeseok] Korea Rural Community Corporation announced on the 7th that it has reduced the average time required for land acquisition compensation from 12 months to 8 months. This is the result of standardizing and digitizing the land acquisition process using information and communication technology (ICT) systems.

Previously, it took more than a year to process compensation tasks. It took over a year to complete the entire process, including basic investigation, announcement of compensation plans, appraisal, calculation of compensation amounts, negotiated purchase, and preparation of documents submitted to the Land Expropriation Committee.

Compensation Procedure Flowchart for Paper Quantity. (Source: Korea Rural Community Corporation)

The corporation shortened the compensation period by establishing an ICT system including email, electronic appraisal, standardization, and digitization of tasks. The corporation's Land Purchase Compensation System (LPCS) automatically verifies, analyzes, and outputs progress information entered after compensation negotiations, and sends it to related organizations such as the Korea Post, Korea Association of Appraisers, and the Land Expropriation Committee. Once the compensation land is determined, an email containing the plan announcement and negotiation contract notice is sent to the recipient through the email system. This enables management of delivery history.

Since the full-scale implementation of the electronic expropriation decision function in 2018, the corporation estimates that it has saved about 7.3 billion KRW. This is thanks to the reduction of paper printouts, postage savings, reduction of travel expenses and time, automatic generation of expropriation decision documents, and automatic preparation of documents by contract type.

Kim Insik, president of the corporation, said, "We plan to introduce SNS electronic document notification functions and upgrade to an intelligent system to enhance public convenience. We will continue to strive to ensure that the corporation's technology, personnel, and systems are used for the public good."

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