Daegu City Designates 100,000㎡ Land Permit Zone for Youth Vocational Training Center Site

Daegu City announced on the 30th that the planned site for the National Youth Career and Job Experience Training Center, aimed at providing career and job experience opportunities for youth in the Yeongnam region, has been designated as a land transaction permission zone and will remain so for the next five years.

The area designated as the land transaction permission zone is 104,006㎡ around 2 Goejeon-dong, Dong-gu, Daegu City. To ensure the stable promotion of the construction of the National Youth Career and Job Experience Training Center for youth in the Yeongnam region and to prevent speculative transactions and rapid land price increases in the development site, the area was designated as a land transaction permission zone in accordance with Article 10 of the “Real Estate Transaction Report Act.”

Daegu City Hall Sangyeok Office.

If the transaction area of land by usage within the permission zone exceeds 60㎡ in residential areas, 150㎡ in commercial areas, 150㎡ in industrial areas, or 200㎡ in green areas, the parties involved in the transaction must obtain land transaction permission from Dong-gu Office before signing the sales contract. They are then obligated to use the land according to the permitted purpose for 2 to 5 years depending on the usage (2 years for agriculture, livestock, forestry, fishery, and residential use; 4 years for development use; 5 years for others). However, it is not difficult for genuine buyers to acquire land within the permission zone.

For real transaction reports submitted after the announcement of the land transaction permission zone, funding plans and supporting documents will be thoroughly reviewed to strictly verify any abnormal transactions such as illegal gifts. Additionally, there will be focused investigations into whether contract dates were falsely recorded to evade permission.

Kim Chang-yeop, Director of the Urban Housing Bureau of Daegu City, stated, “The construction of the National Youth Career and Job Experience Training Center is an essential project to provide career and job experience opportunities for youth in the Yeongnam region, so the permission zone was designated to stabilize land prices in the development area.” He added, “To minimize infringement on the property rights of local residents, the land transaction permission zone boundaries were set to the minimum area within the project district. We will also shorten the land transaction permission processing period of 15 days as much as possible to minimize inconvenience to citizens. Furthermore, we plan to operate a flexible land transaction permission system by continuously monitoring real estate transaction trends and adjusting the zone size accordingly in case of land price stability or instability.”