Uijeongbu-si Lifts Land Transaction Permit Zone in Nokyang-dong Public Housing District

Uijeongbu City, Gyeonggi Province (Mayor Kim Dong-geun) announced that the land transaction permission zone designated for 1,972 parcels (2.96㎢) in the Nokyang-dong Ujeong Public Housing District and nearby green areas will be lifted as of the 5th.

A view of Uijeongbu City Hall. Provided by Uijeongbu City.

On November 5, 2018, the Minister of Land, Infrastructure and Transport designated the land transaction permission zone for the Ujeong Public Housing District, a large-scale housing development area, to prevent speculation.

With this lifting, land transactions will no longer require city approval, and obligations such as using the land directly for at least two years after acquisition with permission will also be removed.

Accordingly, the only remaining land transaction permission zones in Uijeongbu are two parcels (0.09㎢) in Nakyang-dong, designated by the Governor of Gyeonggi Province due to concerns over speculative real estate investments.

Kim Jeong-seop, Director of the Land Information Division, said, “The city has continuously requested the Minister of Land, Infrastructure and Transport to lift the land transaction permission zone,” and added, “We expect that this lifting will resolve inconveniences related to the exercise of property rights for residents of Nokyang-dong.”