18 People Caught Buying Farmland Near National Roads for Speculation Without Farming Intentions

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Along National Road No. 77 (Sinan Amhae∼Yuldo∼Dallido∼Haenam Hwawon), which has been selected as a national balanced development project, individuals who purchased farmland around the national road for speculative purposes without farming intentions have been caught by the police.

On the 27th, the Mokpo Police Station in Jeonnam announced that they had sent 18 people, including Mr. A (60), to the prosecution without detention on charges including violation of the Farmland Act.

They are suspected of fraudulently obtaining farmland acquisition qualification certificates without farming intentions from 2017 until recently and purchasing 41,411㎡ of farmland around National Road No. 77.

At the time Mr. A and others purchased the land, the price was 30,000 to 100,000 KRW per 3.3㎡, but it is known to have surged to 400,000 KRW currently.

The police found that many of them have their resident registration or actual residence in Seoul, Gyeonggi, Gwangju, etc., and did not implement the farming plans submitted when acquiring the farmland.

National Road No. 77 was selected as a national balanced development project, exempted from preliminary feasibility studies, and development has become visible with bridge construction underway.

As construction progressed, land prices in the Dallido and Yuldo areas of Mokpo also rose.