Ulsan 'Deungeok Alps-ri' Land Transactions to Open... 'Happiness Cable Car District Permit Area' to Be Lifted by Year-End

Expiration of Designated Period on December 31 This Year

Resolving Resident Inconvenience Due to Long-Term Property Rights Restrictions

Yeongnam Alps Complex Welcome Center and Sinbulsan, where cable car development is planned.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The Deung-eok Alps Village in Sangbuk-myeon, Ulju-gun, Ulsan, will be released from the land transaction permission zone.

On the 18th, Ulsan City announced that the entire area of Deung-eok Alps Village, designated as the ‘Yeongnam Alps Happy Cable Car Installation District,’ will expire on December 31, 2021.

In October 2013, Ulsan City announced the public development of a cable car in the Ulju area and designated the ‘Cable Car Installation District’ as a land transaction permission zone for eight years from January 1, 2014, to December 31, 2021, to prevent real estate speculation and curb rapid land price increases.

Since the designation, public development projects such as Jakcheonjeong Starlight Camping Site and the Complex Welcome Center have been completed, and the planned Yeongnam Alps cable car installation area is located in protected forest and county parks, making development impossible, effectively eliminating speculation concerns.

Accordingly, Ulsan City decided not to designate the area as a land transaction permission zone, considering the inconvenience to residents due to long-term restrictions on landowners' property rights.

After the expiration of the permission zone, from next year, land transactions will be freely possible without permission from Ulju-gun, and the obligation to use land acquired with prior permission will also be lifted.

Additionally, complaints related to landowners' property rights due to the long-term designation of the permission zone will be resolved, and positive effects are expected for revitalizing the commercial district around the stagnant Deung-eok Hot Springs Complex and regional development.

The Yeongnam Alps cable car development project promoted by Ulju-gun faced a crisis when the environmental impact assessment consultation in 2018 resulted in a ‘disapproval,’ threatening to halt the cable car project, but from this year, the promotion method changed from public development to private development.

Sejin Heavy Industries has been selected as the preferred negotiation partner and is currently in negotiations. Once the developer is finally selected, the project is scheduled to proceed with a completion target of December 2024.

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