[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) initiated compensation negotiations for losses related to the 'Gyeonggi Yongin Platform City' urban development project on the 28th.
The Gyeonggi Yongin Platform City urban development project covers an area of 2,757,000㎡ in Giheung-gu, Yongin City, aiming to create an economic downtown-type complex self-sufficient city. The compensation plan was announced in December last year, appraisals were conducted from August to October this year, and the land-for-land compensation plan was announced on the 16th.
The target for loss compensation negotiations includes land (private property) within the project district, specifically 1,757 parcels in Mabuk-dong, Bojeong-dong, Singal-dong of Giheung-gu, and Sanghyeon-dong, Pungdeokcheon-dong of Suji-gu, Yongin City, as well as approximately 670 surveyed fixtures (first phase).
The loss compensation negotiations will continue until May 26 next year. Starting from the 28th, contracts will be signed with absentee real estate owners, from December 12 contracts will be signed with local residents, and from December 21 land-for-land contracts will be conducted.
GH's compensation area contracts can be made after making a reservation through the pre-reservation system on the corporation's website.
A GH official stated, "The Gyeonggi Yongin Platform City urban development project is aimed at creating a key hub in the southern metropolitan area, and we will promptly complete compensation to fulfill our public responsibility."
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