Designation of 'Land Transaction Permission Zone' Near New Seohae Line Station in Sapgyo-eup, Chungnam

West Sea Line Urban Development Project Planned Area. Provided by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has designated the area near the new Seohae Line station in Sapgyo-eup, Yesan-gun as a land transaction permission zone.

The province announced on the 2nd that it will designate approximately 970,000㎡ of land in the planned urban development project area near the new double-track Seohae Line station in Sapgyo-eup as a land transaction permission zone.

The purpose is to prevent the area near the new station from becoming a target for real estate speculation due to development expectations and to ensure the successful progress of the urban development project.

The designated area covers 823 parcels (975,232㎡) in the Sapgyo and Pyeongchon-ri areas, with the designation period lasting until August 2024.

After review by the Urban Planning Committee, the province decided on this designation and announced it on the 2nd. The designation will take effect from the 7th of this month.

With the designation of the land transaction permission zone, any land transactions exceeding ▲500㎡ for farmland ▲1,000㎡ for forest land ▲250㎡ for residential land or other types within the zone must be approved by the Yesan-gun governor before the sales contract is concluded.

Even if land transaction permission is granted, the land must be used only for the approved purpose for a certain period. If a contract is made without permission or permission is obtained fraudulently, the offender may face imprisonment of up to two years or a fine.

For detailed information on the land transaction permission targets and eligibility, inquiries can be made through the Yesan-gun Civil Service Department.

Ko Jae-seong, Director of the Land Management Division, stated, “We will strive to stabilize the real estate market in Yesan-gun and eradicate real estate speculation through the designation of the land transaction permission zone.”

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