Compensation Fees of 261 Billion Won Imposed for Unauthorized Occupation of State Land... "Collection Rate Must Be Increased"

Over the past four years, Korea Asset Management Corporation (KAMCO) has imposed compensation fees totaling 261 billion KRW for unauthorized occupation of national land and other reasons.

According to data submitted by KAMCO to Cho Seung-rae, a member of the National Assembly's Political Affairs Committee from the Democratic Party of Korea, approximately 114,663 cases and 261 billion KRW in compensation fees were imposed over the past four years. Among these, the region with the highest number of cases was Busan, with 17,402 cases. In terms of total amount, Seoul accounted for 76.3 billion KRW.

Delinquencies have also continued to increase over the past five years, with 64,695 cases and 193.6 billion KRW overdue as of August. The average number of days overdue is a staggering 2,155 days, nearly six years, prompting calls for urgent countermeasures.

The highest compensation fee was imposed on a site located in Ichon-dong, Yongsan, Seoul, amounting to 3.14 billion KRW. The longest overdue claim was imposed in Dongnae, Busan, where compensation fees have been levied since April 1989, resulting in an overdue period of 12,905 days.

Assemblyman Cho stated, “KAMCO must thoroughly manage the collection of compensation fees for national land to ensure efficient use of national land,” and added, “Systematic and intensive measures must be established to increase the collection rate of compensation fees.”