Ulsan KTX Station Area Complex Specialized District, Land Transaction Permission Zone Re-designated

September 17, 2023 ~ January 31, 2025

The area around the ‘KTX Station Complex Specialized District’ has been re-designated as a land transaction permission zone.

Ulsan City announced on the 7th that it has issued a ‘Re-designation Notice of Land Transaction Permission Zone’ for 1.53㎢ in Samnam-eup, Ulju-gun, effective from the 17th of this month until January 31, 2025, for about 1 year and 4 months.

A land transaction permission zone is an area designated to block speculative land transactions and prevent rapid land price increases. This re-designation was finalized after a review by the Ulsan City Urban Planning Committee held on the 23rd of last month. Previously, this area had been designated twice as a land transaction permission zone for four years from September 17, 2019, to September 16, 2023.

Aerial photo of the land transaction permission zone.

Accordingly, in this area, any land transaction exceeding a certain scale must receive permission from the Ulju County Governor until January 31, 2025, and only genuine buyers can acquire land.

An official from Ulsan City stated, “The urban development project plan for this area was approved in July this year, and administrative procedures such as land compensation are scheduled to proceed. Due to concerns about speculative transactions and expectations of land price increases following the project’s promotion, the area has been re-designated as a land transaction permission zone.”

The ‘KTX Station Complex Specialized District Development Project’ is a project to create a ‘smart self-sufficient new town’ by 2026, integrating advanced industries, research facilities, commercial, and residential functions to foster a growth hub in the western new town area of Ulsan.

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