Baek Hyunjin Opposes Seoul City: "Songpa Jamsil-dong Land Transaction Permit System is Unconstitutional"
"Residents Oppose Being Trapped in Indiscriminate Regulatory Boxes"
Baek Hyun-jin, Supreme Council Member of the People Power Party, is attending the Supreme Council meeting held at the National Assembly on the 2nd and delivering opening remarks. Photo by Yoon Dong-joo doso7@
View original image[Asia Economy Reporter Hyunju Lee] On the 14th, Bae Hyun-jin, a member of the People Power Party, strongly opposed Seoul City's proposal to re-designate the land transaction permit system in Jamsil-dong, Songpa-gu.
In a press release on the same day, Representative Bae stated, "If designated as a land transaction permit zone, buyers must disclose their purchase purpose and obtain approval from the local government, and residential land can only be used for actual residence, prohibiting sales or leases for two years," adding, "This causes a serious problem where residents are trapped in indiscriminate regulatory boxes."
Jamsil-dong in Songpa-gu, Representative Bae's constituency, was designated as a land transaction permit zone along with Gangnam-gu's Samseong, Cheongdam, and Daechi-dong during former Seoul Mayor Park Won-soon's administration, citing the need to stabilize real estate prices in preparation for the MICE development project in the Jamsil area. Seoul City is reported to hold an urban planning committee meeting on the 15th to re-designate the land transaction permit zone.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Regarding this, Representative Bae has held expert forums emphasizing the unconstitutionality of the land transaction permit system and has continuously raised issues. She stated, "Since the designation of the land transaction permit zone, residents have suffered severe property rights damages as a side effect of a failed policy," and added, "Indiscriminately applying a problematic system again without effectiveness is like shifting the responsibility for real estate price surges onto innocent residents."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
