Hanam Gwangam, Choil, Choi, and Sangsangok-dong 16.6㎢ 'Land Transaction Permission Zone' Lifted

Gyeonggi Province lifted the land transaction permission zone designation on the 10th for the area of 16.6㎢ covering Gwangam, Choil, Choi, and Sangsangok-dong in Hanam City, which is related to the Hanam corporate relocation site.

On the 6th, Gyeonggi Province held a review by the Gyeonggi Province Urban Planning Committee and decided to lift the land transaction permission zone, and announced it on the provincial website on the same day.

The Hanam corporate relocation site project is a relocation complex development project for companies that must leave due to the development of Hanam Gyosan New Town. Currently, more than 82% of the land compensation has been carried out, and the remaining 18% is under the Central Land Expropriation Committee's decision process.

The area of Gwangam, Choil, Choi, and Sangsan-gok neighborhoods in Hanam City, related to the Hanam corporate relocation site, where Gyeonggi Province lifted the land transaction permission zone on the 10th. Provided by Gyeonggi Provincial Government

Gyeonggi Province explained that following Hanam City's request to lift the land transaction permission zone in November, after reviewing indicators such as land price index and transaction volume fluctuation rates in the area, the indicators showed a stabilization trend, and considering exclusion from the Ministry of Land, Infrastructure and Transport's new housing sites and the project progress status, the land transaction permission zone was lifted.

With this lifting of the land transaction permission zone, land transactions can be conducted without permission from the Hanam City Mayor, and the obligation to use land acquired with prior permission will also be removed.

Ko Jung-guk, Director of the Land Information Division of Gyeonggi Province, stated, "Since more than 82% of land compensation has been carried out and there is no hindrance to project progress, the designation was lifted to prevent excessive infringement on landowners' property rights." He added, "We will monitor land price trends in the lifted area, and if concerns about real estate speculation arise, we will newly designate land transaction permission zones to stabilize the real estate market."