Gyeongju, Gongju, Buyeo, and Iksan Historic Hanok Sales Made Easier

by Lee Jonggil

Published 29 May.2020 11:30(KST)

Approval for sales after direct business for over a year... Gift recipients expanded to spouse and direct family members

Gyeongju Hwangridan-gil

The buying and selling of traditional hanok houses in the ancient capitals of Gyeongju, Gongju, Buyeo, and Iksan will become much easier. The term "ancient capital" refers to Gyeongju, Buyeo, Gongju, Iksan, and other areas designated by presidential decree, which were historically significant political and cultural centers.

On the 29th, the Cultural Heritage Administration announced that it has eased restrictions on property disposal to alleviate inconveniences for residents in these areas. The target properties are hanok houses that received new construction subsidies through the "Finding Ancient Capital Image" project.

Gongju Songsan Village

"Finding Ancient Capital Image" is a project initiated by the Cultural Heritage Administration in 2015 to improve the historical cultural environment and residents' living conditions. If a hanok is built in a historical cultural environment preservation and promotion district, support of up to 100 million KRW is provided. However, sales were restricted for five years, and approval for sales was granted only if the owner had lived in the designated ancient capital district for more than one year.

With this regulatory improvement, sales restrictions have been significantly reduced. Even if the owner has not lived in the designated ancient capital district, sales approval can be granted if they have directly operated a business there for more than one year. The scope of hanok gift recipients has also been expanded from immediate family members to include spouses and the spouse's immediate family.

Buyeo Ssangbuk-ri Village

Currently, areas that have emerged as tourist attractions through the Finding Ancient Capital Image project include Hwangridan-gil in Gyeongju, Gongju Castle front and Songsan Village in Gongju, Ssangbuk-ri Village in Buyeo, and Geumma Village in Iksan.