Major Business
- 홈
- Major Business
- Compensation-Consignment
- Land Compensation
Land Compensation
Compensation for land to be acquired
- Compensation is made in the amount determined in the integrated consideration of land value fluctuations from the base date of official notification to the pricing time based on the officially notified reference land prices having similar usability with the land to be acquired, location, shape, environment, use situation of the land to be appraised, and various other factors of price formation. Appraisal is performed based on the objective situation of general land use, while the subjective prices of the land owner and assumptions about the use of land for a specific purpose are not considered.
- Land price fluctuations (prices influenced by development benefits or speculative trade) caused by public works projects are not considered, and land whose service areas, etc. have been changed in order to implement a public works project is appraised based on the service area prior to any change.
- Land whose form and quality have been illegally changed or land containing unauthorized buildings, etc. built since January 24, 1989 is appraised on the assumption that there has been no change of its form, quality or use situation prior to construction.
- The officially notified reference land prices are appraised based on January 1 every year and are notified by the Minister of Land, Infrastructure, and Transport. Individual officially announced land prices are calculated and notified by the heads of si/gun/gu for administrative purposes such as the imposition of development charges and the imposition of land-related taxes, etc. under the Restitution of Development Gains Act, and are not used as the base for calculating the amount of compensation.
Compensation for residual land
If some of the land belonging to a same owner is included in a public works project and it is significantly difficult to use residual land for the previous purpose, purchase of the residual land may be requested or, after project acceptance notification, expropriation may be requested to the corresponding land tribunal. Requests for residual land should be made up until the project completion date.
Residual land judgment standard
- In cases where the construction of a building is impossible or significantly difficult due to such reasons as a land area being too small or whose form is indeterminate.
- In cases where farming is significantly difficult due to the excessively long, narrow or indeterminate form of the land, making it difficult for agricultural machinery to enter or turn.
- On cases where farming or other uses is impossible due to the disconnection of traffic caused by the implementation of a public works project.
- In cases where it is accepted that use of residual land for a previous purpose is as difficult, as stated above.
If the residual land price decreases due to the acquisition or use of a part of the land concerned, the loss in the residual land price is compensated and, if the residual land requires the construction of paths, ditches, or fences, etc. or other kinds of construction works, the costs incurred by such construction works are compensated.