Yongin City Discovers Unclaimed Land Worth 3.2 Billion KRW and Receives Refund from Government

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province found land for which ownership transfer had been omitted for 20 years after being gratuitously transferred from the state, transferred the ownership, and received a refund of 3.2 billion KRW for land purchase costs.

Yongin City announced on the 6th that on the 21st of last month, it transferred ownership of one parcel of land, 3,584㎡ at 20-8, Gugal-dong, Giheung-gu, which was owned by the Ministry of Strategy and Finance, from the Korea Asset Management Corporation.

The Korea Asset Management Corporation is a public institution entrusted with managing state-owned assets owned by government ministries such as the Ministry of Strategy and Finance.

This land was state-owned land at the time of the creation of Gugal Lespia in 2003, but it was a site that was to be gratuitously transferred from the Ministry of Strategy and Finance to the city.

While promoting the Gugal Lespia improvement project last year, the city was unaware that part of the project site was to be received free of charge from the Ministry of Strategy and Finance at that time and proceeded with the project, paying 3.2 billion KRW for land purchase costs.

This fact was discovered when the city's Property Management Division searched for related documents at the time in connection with the Gugal Lespia improvement project.

Accordingly, from January of this year, the city persistently requested a re-examination by presenting past gratuitous acquisition documents to the Korea Asset Management Corporation, achieving the transfer of ownership of the land along with the 3.2 billion KRW land purchase cost paid last year.

The Property Management Division's City-Owned Property Discovery Team had previously secured ownership of land worth about 3.3 billion KRW by additionally receiving donation deposits of 10 remaining parcels of land adjacent to land for which gratuitous acquisition was omitted after the installation of an urban planning road in February, contributing to financial expansion.

A city official said, "If even a very small possibility arises, we will actively discover city-owned property to help expand the city's finances."

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