Daegu City Designates 3.28 Million㎡ Land Transaction Permission Zone for New National Industrial Complex

On the 15th, Daegu City announced the designation of the planned site of the Daegu Future Smart Technology National Industrial Complex Development Project, covering 3,284,620㎡, as a land transaction permit zone and designated it as such for the next five years.

The area designated as a land transaction permit zone this time is 3,284,620㎡ in total, located in Gura-ri, Seolhwa-ri, Seongsan-ri, and Cheonnae-ri of Hwawon-eup, Dalseong-gun, south of Seongseo 1 to 4 Industrial Complexes, and in Ganggyeong-ri and Gise-ri of Okpo-eup. This designation was made under Article 10 of the “Act on Reporting and Inspection of Real Estate Transactions” to ensure the stable promotion of the Daegu Future Smart Technology National Industrial Complex Development Project, suppress land price increases in the planned site, and prevent real estate speculation.

Location Map of Daegu 2nd National Industrial Complex

If the transaction area of land by land-use zone within the permit zone exceeds 60㎡ in residential areas, 150㎡ in commercial areas, or 200㎡ in green areas, the parties involved in the transaction must obtain land transaction permission from Dalseong County Office before signing the sales contract. There is an obligation to use the land according to the permitted purpose for 2 to 5 years depending on the use (2 years for agricultural or residential use, 4 years for development use, and 5 years for others). For actual users, acquiring land within the permit zone is not difficult.

For real transaction reports submitted after the announcement of the land transaction permit zone, funding plans and supporting documents will be thoroughly reviewed to strictly verify any abnormal transactions such as illegal gifts. Additionally, investigations will focus on whether there are any false contract dates intended to evade permission.

Kwon Oh-hwan, Director of the Urban Housing Bureau of Daegu City, stated, “The development of the national industrial complex is an essential and important project that will play a pivotal role in the future economy of Daegu. Therefore, the permit zone was designated to stabilize the development area. To minimize infringement on the property rights of local residents, the land transaction permit zone was limited to the project district and the boundaries were set to the smallest possible area.”