Bukulsan Station Area Development Project Site Newly Designated as Land Transaction Permission Zone

Land Transactions Restricted for Three Years Starting September 10

The area surrounding the 'Buk-Ulsan Station Area Development Project Site' has been newly designated as a land transaction permission zone, restricting land transactions.

The Ulsan city government announced on the 5th that it will designate a 0.86㎢ area in Changpyeong-dong, Buk-gu as a land transaction permission zone for three years, from the 10th of this month until September 9, 2027.

A land transaction permission zone is an area designated for a certain period to block speculative land transactions and prevent sharp rises in land prices.

This area was newly designated after deliberation at the Ulsan City Urban Planning Committee meeting held on August 29.

During the designation period, any land transaction above a certain scale in this area requires permission from the head of the Buk-gu district office, and only actual users are allowed to acquire land.

An official from Ulsan city said, "Due to expectations of rising land prices and concerns over speculative transactions following the promotion of the Buk-Ulsan Station Area Development Project, we have designated this area as a land transaction permission zone."

The Buk-Ulsan Station Area Development Project is a comprehensive development project encompassing residential, commercial, industrial, and medical facilities. It aims to promote balanced regional development and establish a new metropolitan growth hub with self-sustaining functions.