Apply to GH by August 7
Land Compensation Rate Reaches 99.8%
Agricultural loss compensation has begun for the 'Gyeonggi Yongin Platform City,' a 2.75 million square meter-scale development project in the Giheung and Suji districts of Yongin City, Gyeonggi Province. Since land compensation for the Platform City development is nearly complete, construction is expected to begin in earnest as early as the end of next year.
A panoramic view of the site planned for 'Gyeonggi Yongin Platform City,' a 2.75 million square meter development in the Giheung-gu and Suji-gu areas of Yongin-si, Gyeonggi-do. [Photo by Yongin City]
Yongin City announced that from the 5th until August 7th, it will accept applications for agricultural loss compensation from farmers in the Platform City target area. The agricultural loss compensation is conducted by Gyeonggi Housing and Urban Corporation (GH), and compensation payments will be made only after review and confirmation.
Eligible recipients are farmers who own or lease farmland within the project site and cultivate it. However, land used as farmland after the project recognition announcement date of January 2021, land occupied without permission on someone else’s property, and land used by non-farmers are excluded from compensation.
If the farmland owner resides more than 30 km in a straight line from the farmland, only the actual cultivating tenant farmer can receive compensation. If residing within 30 km, the farmland owner and tenant farmer must negotiate the compensation ratio. If no agreement is reached, the farmland owner and tenant farmer will each receive 50% of the compensation.
Compensation amounts are determined according to Article 48 of the Enforcement Rules of the Land Compensation Act. The average income of Gyeonggi Province farms over the past three years is calculated, and compensation is based on two years’ worth of income. If actual income is proven, compensation is made according to the 'Crop Actual Income Recognition Standards' announced by the Ministry of Land, Infrastructure and Transport.
The Platform City is a large-scale urban development project covering 2,757,186㎡ (approximately 830,000 pyeong) in Bojeong, Mabuk, and Singal-dong in Giheung-gu, and Sanghyeon and Pungdeokcheon-dong in Suji-gu. The project district will include about 10,000 housing units, as well as advanced manufacturing and knowledge industries, large-scale commercial facilities, and MICE (Meetings, Incentives, Conferences, and Exhibitions) venues. It is a prime location adjacent to Yongin Station on the GTX (Great Train Express) A Line and Bojeong and Guseong Stations on the Suin-Bundang Line.
According to Yongin City, the current land compensation rate stands at 99.8%, with most of the process nearly complete. Compensation for fixtures and structures is expected to be completed by next year. Recruitment for relocation and livelihood support beneficiaries is anticipated to begin around the end of next year, once compensation for fixtures and structures is finalized.
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