Gyeonggi-do to Sell and Lease 385 Plots of Abandoned Riverbed Land in Yangyeo... Expected Increase in Revenue

Gyeonggi Provincial Government Gwanggyo New Office Building

Gyeonggi Province is promoting the effective utilization of provincial assets by selling or leasing 385 parcels of transferred abandoned riverbed land this year.

On the 3rd, Gyeonggi Province announced that it has established the "2023 Management Plan for Transferred Abandoned Riverbed Land," which includes these details.

Abandoned riverbed land refers to land that has become dry due to changes in the river course caused by river construction or natural phenomena.

It is called "transferred abandoned riverbed land" because the Minister of Land, Infrastructure and Transport has transferred ownership to local governments, indicating that the land is no longer needed for purposes such as flood control and river environment preservation. Selling or leasing this land generates revenue.

Currently, there are 1,184 parcels of transferred abandoned riverbed land totaling 835,008㎡ in the province. Last year, the province sold or leased 420 parcels (547,306㎡) of such land, generating revenue of approximately 73.9 million KRW. This year, the plan is to sell or lease 385 parcels (509,568㎡). Of these, 20 parcels (13,703㎡) are for sale, and 365 parcels (495,865㎡) are for lease. The sales proceeds will be allocated between the province and municipalities at a 7:3 ratio, while lease fees will be split evenly at 5:5.

In addition to the parcels designated for sale or lease, if residents wish to utilize other parcels, they can request sales or leases from the province and municipalities, which will be actively considered.

The province discloses information on transferred abandoned riverbed land by municipality, location, land category, area, land use plan, and lease status on the Gyeonggi Province Real Estate Portal.

Baek Seung-beom, head of the River Division of the province, explained, "To efficiently manage and utilize provincial assets, we plan to establish a comprehensive management plan to enhance the value of transferred abandoned riverbed land by annually collecting opinions from municipalities regarding leasing and sales."

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