Re-designation of 'Land Transaction Permission Zone' for Semiconductor Cluster Development Area in Wonsam-myeon, Yongin

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has re-designated the entire 60.1㎢ area of Wonsam-myeon, Cheoin-gu, Yongin-si, the site of the 'Semiconductor Cluster' development project, as a land transaction permission zone until March 22 next year.

The province announced this decision on the 17th on the Gyeonggi Province website after holding a review by the provincial Urban Planning Committee on the 4th.

The Wonsam-myeon area was designated as a land transaction permission zone in March 2019 due to concerns about speculative demand inflow following the semiconductor cluster development project, with the designation period set to expire on the 22nd of this month.

The Urban Planning Committee explained that considering the delay in the project due to land compensation and other factors, the reasons for designating the land transaction permission zone have not disappeared, and thus decided to extend the designation by one year.

However, Baegam-myeon, covering 65.7㎢, which was also designated as a land transaction permission zone along with Wonsam-myeon, will be released from the permission zone on the 23rd of this month due to the expiration of the designation period, despite the rapid rise in land prices following the announcement of the semiconductor cluster project.

A provincial official emphasized, "The re-designation of the land transaction permission zone is an unavoidable measure to prevent illegal transactions or speculation in advance, and we will actively cooperate with Yongin City to broadly recognize legitimate transactions by actual demanders. For Baegam-myeon, where the permission zone designation is lifted, we will strengthen monitoring of transaction trends and, if any abnormal signs occur, we will block speculative demand at the source through speculation crackdowns or re-designation of permission zones."

Meanwhile, last year, the Gyeonggi Province Special Judicial Police investigated illegal speculation activities in the semiconductor cluster development area and identified 43 individuals, including planned real estate speculators and those who moved residences under false pretenses.

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