Yongin Namsa and Idong Semiconductor Cluster Worth 300 Trillion Won Designated as 'Land Transaction Permission Zones' Starting from the 20th

Location map of Namsa-eup and Idong-eup, Yongin, Gyeonggi-do, designated as land transaction permission zones

For the next three years, anyone wishing to conduct land transactions in Namsa-eup and Idong-eup, Yongin-si, Gyeonggi-do must obtain permission from the city.

On the 17th, Yongin City announced that following the government's plan announced on the 15th to establish the world's largest system semiconductor cluster in Namsa-eup and Idong-eup to maintain a semiconductor super-gap, the Ministry of Land, Infrastructure and Transport designated and announced the entire area of 129.48㎢ in Namsa-eup and Idong-eup, Cheoin-gu, the site planned for a national industrial complex project, as a land transaction permission zone.

The land transaction permission system is a regulation requiring approval from the mayor or district head when land transaction contracts exceed a certain area in regions where speculative land trading is rampant or rapid land price increases are feared, to prevent speculation.

The designation period for the land transaction permission zone is from the 20th of this month until March 19, 2026, three years later.

Specifically, within Namsa-eup (58.46㎢) and Idong-eup (71.02㎢), permission must be obtained for land transactions exceeding ▲60㎡ in residential areas and undesignated zones ▲150㎡ in commercial and industrial areas ▲100㎡ in green zones.

In non-urban areas, the regulation applies when agricultural land exceeds 500㎡, forest land exceeds 1000㎡, and other lands exceed 250㎡.

Separately, the city has designated approximately 7.1 million㎡ (2.15 million pyeong) of the project site in Namsa-eup and Idong-eup, where the national industrial complex will be established, as a development activity permit restriction zone and will collect residents' opinions until April 6.

This is based on the judgment that preemptive measures are necessary to prevent indiscriminate development, natural landscape damage, and real estate speculation in the project area to ensure that the advanced system semiconductor cluster is developed as planned.

Once designated as a development activity permit restriction zone, from the 17th of this month for three years, construction of new buildings, reconstruction, extension, landform changes (excluding cultivation), logging, and planting within the area will be restricted.

Detailed information about the development activity permit restriction zone can be found on the city’s official website.

Meanwhile, the land transaction permission zone for the entire 60.1㎢ area of Wonsam-myeon, Cheoin-gu, will be lifted on the 23rd of this month.

This comes four years after Gyeonggi-do designated it as a land transaction permission zone on March 23, 2019, to prevent speculation due to the Yongin semiconductor cluster development project.

From now on, land transactions in the Wonsam-myeon area will be possible without permission.

Lee Sang-il, mayor of Yongin City, said, "We welcome the government's grand plan to maintain the world's semiconductor super-gap, and we will do our best to provide administrative support by closely consulting with the government to ensure the smooth progress of the national advanced industrial complex development." He added, "Since restrictions have been imposed to prevent overheating speculation in the target areas, we ask for broad understanding even if there are inconveniences in land transactions."