Designation of 'Land Transaction Permission Zone' in Gyomun-dong Area, Guri-si, Gyeonggi Province

[Asia Economy (Guri) = Reporter Lee Young-gyu] Gyeonggi Province has designated 0.1㎢ of the Gyomun-dong area in Guri City as a 'Land Transaction Permission Zone.'

Earlier, on the 24th, Gyeonggi Province held the Gyeonggi Urban Planning Committee and designated 0.1㎢ of the Gyomun-dong area in Guri City, where the 'Guri Gyomun Public Housing District' project, part of the government's new public housing site promotion plan, is scheduled, as a Land Transaction Permission Zone. The designation period is from October 3 of this year to September 30, 2024.

To trade land in a Land Transaction Permission Zone, permission must be obtained from the head of the relevant local government. If a contract is made without permission or permission is obtained by fraudulent means, imprisonment for up to 2 years or a fine of up to 20 million won will be imposed.

An official from the province stated, "We plan to strengthen the land area within green zones that require permission to the lowest level of 10% (10㎡), which is the minimum standard area (over 100㎡) under the Enforcement Decree of the Real Estate Transaction Reporting Act, to maximize the purpose of the Land Transaction Permission Zone system as 'speculation suppression.' We will continue to suppress speculative transactions driven by development expectations in the future," emphasizing the point.