Ulsan City to Secure Riverbed Land Worth 24.6 Billion KRW Due to Loss of River Functions

Second Transfer Operation of National Abandoned Riverbed Land, 102 Parcels Covering 68,327㎡

Previously in 2021, 20 Parcels Covering 10,142㎡ Transferred as City-Owned Property

Ulsan City is promoting the transfer of 68,327㎡ of state-owned abandoned riverbed land, which has lost its river function, to city property.

Ulsan City announced on the 1st that it has established a transfer plan for 'local river abandoned riverbed land' and plans to complete the administrative procedures related to the transfer by September.

The transfer of abandoned riverbed land is targeted at land excluded from the river area due to changes in the river course caused by river construction, floods, or other natural phenomena, according to the 'River Act.' State-owned property (under the jurisdiction of the Ministry of Environment) designated as abandoned riverbed land within local rivers will be transferred to Ulsan City ownership and then sold or leased to enable efficient management of river assets.

Since 2021, Ulsan City has completed the designation of abandoned riverbed land for 61 local rivers. Among these, approximately 200,000㎡ of state-owned land is eligible for transfer.

As the first phase, the transfer of 20 parcels totaling 10,142㎡ was completed in 2021, and in this second phase, a total of 102 parcels covering 68,327㎡ will be transferred from the Ministry of Environment. The estimated appraisal value converted into monetary terms amounts to 24.6 billion KRW.

An official from Ulsan City stated, “We will continue to establish sustainable and efficient management plans for abandoned riverbed land to secure city-owned assets,” and added, “The revenue generated from the transferred abandoned riverbed land will be reinvested in establishing basic river plans, river construction, and maintenance costs.”

Ulsan City Hall.

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