Ulsan 'KTX Station Area' No Speculation Allowed... Complex Specialized District Land Transaction Permission Zone Re-designated
September 17, 2022 - September 16, 2023
744 parcels in Sinhwa-ri, Samnam-eup, 1,532,543㎡
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The area around the KTX station complex specialized district in Sinhwa-ri, Samnam-eup, Ulju-gun, Ulsan City is being redesignated as a land transaction permission zone.
Ulsan City announced on the 8th that, following a review by the Ulsan City Urban Planning Committee on the 2nd, 744 parcels totaling 1,532,534㎡ in Sinhwa-ri, Samnam-eup, Ulju-gun have been redesignated as a land transaction permission zone for one year from the 17th of this month until September 16 of next year.
This area is scheduled for approval of the implementation plan in the second half of this year, and to ensure smooth project progress, it has been redesignated as a land transaction permission zone for one year in accordance with Article 10 of the Act on Reporting and Inspection of Real Estate Transactions.
Accordingly, any land transactions exceeding a certain scale in this area must obtain permission from the Ulju-gun governor until September 16 of next year, and only actual users can acquire the land.
Ulsan City initially designated this area as a land transaction permission zone for three years starting from September 17, 2019.
An official from Ulsan City stated, "Due to concerns about speculative transactions and expectations of land price increases following project promotion, the area has been redesignated as a land transaction permission zone."
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The KTX station complex specialized district is being developed by the project implementer, Ulsan Complex City Development Co., Ltd., which signed a Memorandum of Understanding (MOU) in 2019 to create a high-quality specialized district featuring advanced industries, research facilities, commercial, and residential functions, aiming for project completion in 2025.
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