The Start of Land Compensation in 3rd Phase New Towns: "Need to Improve Unfairness in National Policies"

"From the perspective of landowners, losing their living grounds means they want fair compensation, but the reality is not easy. We cannot demand only sacrifices from the original residents who have had their property rights restricted for many years."

On the 8th, Jung Yang-hyun, the representative lawyer of the real estate specialized law firm Law Firm How, emphasized, "We must be cautious about the situation where a huge amount of land compensation is released at once, destabilizing the real estate market," while also stating, "The unreasonable aspects of national policies related to land compensation must be improved."

More than 32 trillion won in land compensation related to the 3rd New Towns will be released sequentially until 2024. The Ministry of Land, Infrastructure and Transport completed public hearings for residents, strategic environmental impact assessments, and reviews by the Central Urban Planning Committee for the Goyang Changneung district, and on the 6th announced the designation of the public housing district, raising interest in land compensation. The public land designation announcement means the confirmation of the project plan and the full-scale start of the district plan and other projects.

At the end of last year, Lawyer Jung opened the Land Compensation Increase Center along with the full-scale promotion of the 3rd New Towns. It plays a role in representing the interests of landowners to ensure they receive appropriate compensation. Through advice related to the implementation of land-for-land compensation and other matters, it helps residents receive development benefits. Recently, as issues related to the sunset system for urban planning facilities such as roads, parks, etc. and national projects like the construction of the 3rd New Towns have increased, the related industry has also become busy.

From the landowners' perspective, proactive responses are necessary at every stage of the compensation-related project implementer's progress. Lawyer Jung explained, "We review expected project scenarios through cases from other regions and provide real estate-related support such as relocation measures, compensation tax systems, and review of project relocation sites, in addition to compensation issues." He said, "While the biggest concern of landowners is to increase compensation, many cases can arise during the negotiation process, on-site verification, and appeal application process, so sufficient consultation, legal relationship review, and administrative support are needed at every procedure."

Meanwhile, among the five 3rd New Towns promoted under the plan to supply 300,000 households in the metropolitan area, four districts?Namyangju Wangsuk, Hanam Gyosan, Incheon Gyeyang, and Goyang Changneung?have been designated, excluding Bucheon Daejang district (3.43 million㎡, 20,000 households). Bucheon Daejang district is expected to complete district designation in the first half of this year. Land compensation is progressing this year in Namyangju Wangsuk, Hanam Gyosan, and Incheon Gyeyang districts, while land compensation in Goyang Changneung and Bucheon Daejang districts is expected to proceed from next year.