Kamco Signs Maintenance Agreement with Jeju Province for Unclaimed Graves on National Land

Munsung Yoo, President of KAMCO (right), and Koo Man-seop, Acting Governor of Jeju Special Self-Governing Province, are posing for a commemorative photo.

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 24th that it has signed a 'Business Agreement for the Maintenance of State-Owned Land with Unmarked Graves' with Jeju Province.

This agreement was established to change the designation of state-owned land under KAMCO's jurisdiction that is currently classified as cemetery land to reflect its actual usage, thereby increasing its value and utilization, resolving complaints regarding restrictions on purchase applications by adjacent landowners, and cooperating with Jeju Province's policy on maintaining unmarked graves.

Through this agreement, KAMCO will actively support Jeju Province's unmarked grave maintenance projects and related policy initiatives, while Jeju Province will cooperate with KAMCO in changing the designation of state-owned land classified as cemetery land but used differently.

To this end, since April, KAMCO has been conducting a comprehensive survey of state-owned land in Jeju Province using aerial drones, classifying state-owned land designated as cemetery land but having lost its cemetery function as candidates for designation change.

Moon Sung-yoo, President of KAMCO, stated, "I hope this agreement will not only enhance the value of state-owned assets but also resolve various complaints arising from usage restrictions." He added, "Going forward, KAMCO will continue to listen to the voices of the public and discover and expand measures to increase the utilization of state-owned assets."

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