Goyang City Designates Goyang Daegok Station Area as Land Transaction Permission Zone for Knowledge Convergence Complex

Strengthening Land Transaction Regulations for Five Years Until November 9, 2029

Goyang Special City, Gyeonggi Province (Mayor Lee Dong-hwan) announced on the 8th that an area of 11.06㎢ in Daejang-dong, Deogyang-gu, Goyang City, the planned site for the ‘Goyang Daegok Station Area Knowledge Convergence Complex,’ will be designated as a land transaction permission zone from November 10, 2024, to November 9, 2029.

Planned site for the 'Goyang Daegok Station Area Knowledge Convergence Complex'. Provided by Goyang Special City

This designation was made in accordance with the announcement by the Ministry of Land, Infrastructure and Transport related to the Daegok Station Area Knowledge Convergence Complex project, and land transaction regulations in the area will be strengthened for a certain period.

Accordingly, to trade land in the designated area, a sales contract must be concluded only after obtaining permission from the Mayor of Goyang City. If a contract is made without permission or permission is obtained through fraudulent means, imprisonment for up to two years or a fine of up to 20 million KRW may be imposed.

Even if permission is granted, the land must be used for the intended purpose for a certain period, and if violated, a performance penalty of up to 10% of the acquisition price may be imposed annually.

Mayor Lee Dong-hwan of Goyang Special City stated, “Since the Daegok Station Area Knowledge Convergence Complex project aims to minimize the residential ratio to the 20% range and strengthen self-sufficient functions, maximizing the region’s economic potential, we will prevent speculation in advance to successfully promote the project.”

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