"Gyeongbuk Mountain Acquisitions" ... Yeongdeok National Forest Management Office Purchases 334ha of Private Forests for Forest Welfare and Resource Utilization

Yeongdeok National Forest

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Gwi-yeol] The Yeongdeok National Forest Management Office of the Southern Regional Forest Service is set to purchase public and private forests to enhance forest welfare services and foster forest resources.

This year, the Yeongdeok National Forest Management Office plans to acquire 334 hectares of private forests located in six cities and counties under its jurisdiction. The target areas include three cities and three counties: Yeongyang-gun, Yeongdeok-gun, Cheongsong-gun, Pohang-si, Yeongcheon-si, and Gyeongju-si.

Priority will be given to purchasing large or easily accessible forests. Forests that are legally restricted under forest-related laws such as forest protection zones, or privately owned forests that are difficult to manage but can be directly managed by the state, are also subject to purchase.

According to the Special Tax Treatment Control Act, if forest land held for more than two years is sold to the state before December 31, 2022, a tax reduction equivalent to 10% of the capital gains tax can be applied.