Mokpo City, 2020 Individual Official Land Prices Determined and Announced

Survey of 67,710 Parcels Completed by March 13

Mokpo City Hall (Photo by Mokpo City)

[Asia Economy Honam Reporting Headquarters Reporter Jeong Hyeong-seok] Mokpo City (Mayor Kim Jong-sik) announced on the 29th that it will conduct land characteristic surveys and land price assessments for 67,710 parcels by March 13 to determine and announce individual publicly notified land prices as of January 1, 2020.

The land characteristic survey involves verifying various data such as land (forest) registers, building registers, land use plan confirmation documents, satellite images, and conducting on-site investigations to accurately examine key land characteristics such as land use status and road conditions.

Once the survey is completed, the final land price will be calculated by deriving the price ratio based on differences in land characteristics between standard land, which is determined and announced by the Minister of Land, Infrastructure and Transport, and individual land parcels.

After verification by certified appraisers of the final assessed land prices, individual publicly notified land prices will be available for public inspection and comments for 20 days starting from April 14.

For land prices on which opinions are submitted, on-site visits will be conducted to explain land characteristics and price formation factors, and residents’ opinions will be collected to address any questions regarding the individual publicly notified land prices.

For further details, please contact the Land Management Team at the Civil Service Office of Mokpo City.