Yongin City Takes Action to Block Speculation in Idong District, the 'Semiconductor Hub'

Intensive Inspection of Illegal Development and Speculative Transactions
"Comprehensive Investigation of Public Officials' Transactions as Well"

Yongin City in Gyeonggi Province is taking measures to prevent speculation in the 'Idong Public Housing District' area of Cheoin-gu.

On the 13th, Yongin City announced that it will operate a joint inspection team to prevent speculation targeting the areas of Cheon-ri, Muk-ri, Deokseong-ri, and Simi-ri in Idong-eup, Cheoin-gu, where a new public housing district is planned.

This anti-speculation inspection team is a follow-up measure after the government designated 2.28 million square meters of this area as a hinterland city for the national industrial complex for advanced system semiconductors on the 15th of last month. The government plans to supply a total of 16,000 housing units here.

Currently, this area is restricted from development activities following the announcement of the district designation under the Special Act on Public Housing, and it has also been designated as a land transaction permission zone. The city's joint inspection team will operate until the designation of the new housing district is completed.

The city, which has the authority to investigate speculative activities, formed the inspection team on the 5th and began practical enforcement, while the Ministry of Land, Infrastructure and Transport and Gyeonggi Province oversee and support the inspection activities.

The city inspection team checks for violations in six areas: ▲speculation planting ▲illegal buildings ▲speculative transactions ▲illegal development activities ▲management of farmland and forestland. If illegal activities are found, immediate action will be taken or investigations will be requested from investigative agencies.

In addition, to verify internal ethics and integrity, an investigation into speculation by city officials will be conducted. If any suspicion of speculation is found in land ownership or transaction processes, the officials will be asked to provide explanatory materials and will be investigated accordingly.

A city official stated, "We will strive to create an environment where city officials and citizens can cooperate with one heart to build the world's best semiconductor industry ecosystem."

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