Seoul City Announces Review of Abolishing the Land Transaction Permission System at the "Great Debate on Deregulation to Revive People's Livelihood"
Councilor Lee Seong-bae Expresses Gratitude for Prioritizing the Land Transaction Permission System for Deregulation After Six Years of Advocacy, Urges Prompt Announcement of Zone Lifting
Lee Seong-bae, the representative member of the People Power Party in the Seoul Metropolitan Council (People Power Party, Songpa 4), expressed his welcome on the 14th regarding Seoul City's active consideration of abolishing the Land Transaction Permission System and its plan to announce it in the future at the "Great Debate on Deregulation to Revive People's Livelihood." He also stated that he will make every effort until the end to lift the land transaction permission zone in the Jamsil area.
On the 14th, Seoul City held the "Great Debate on Deregulation to Revive People's Livelihood" in the large conference room on the 3rd floor of Seoul City Hall. On this day, Mayor Oh Se-hoon listened to citizens' voices about regulations both online and offline and directly explained improvement plans and future plans.
Regarding citizens' questions about the Land Transaction Permission System, Mayor Oh said, "So far, I wanted to lift the regulation because the system has blocked the exercise of property rights, but I could not do so due to concerns about the adverse effect of skyrocketing real estate prices." He added, "However, since the current real estate price surge is stabilizing downward and the real estate market may stagnate in the future, we are actively reviewing the abolition of the system and plan to announce the plan soon," mentioning the possibility of deregulation.
In response, Councilor Lee Seong-bae said, "Seoul City has stated that it will actively consider abolishing the Land Transaction Permission System, which I see as a positive signal that Seoul City properly recognizes the side effects of the system and intends to abolish the regulation." He added, "Although late, I am pleased that Seoul City is now trying to understand the suffering of citizens living in regulated areas and abolish the regulation," expressing his welcome.
Since the initial designation of the International Exchange Complex District as a land transaction permission zone in June 2020, Councilor Lee has voiced the unfairness of the zone designation to Seoul City and continuously requested system improvements and zone lifting. As a member of the Urban Planning Management Committee and Housing and Space Committee of the Seoul Metropolitan Council, he raised doubts about the effectiveness of the system and advocated for deregulation. In response, Seoul City commissioned a service for system improvement in August this year, and a comprehensive review of the system is currently underway.
Councilor Lee said, "In the case of the Jamsil area, rather than acting as a development boon with the Jamsil Sports and MICE project, residents suffer from noise, dust, and traffic congestion due to project delays. Despite many residents moving in for actual residence due to their children's school transfers, housing transactions are not happening because of the regulation, causing significant damage to actual residents." He added, "For the past six years, I have continuously worked with Seoul City and the Ministry of Land, Infrastructure and Transport to resolve the regulation, and it seems that the efforts are finally bearing fruit."
Finally, Councilor Lee concluded, "At the debate, Mayor Oh said, 'The policy environment for lifting the Land Transaction Permission System has now matured,' and I agree with this statement. I expect Seoul City to announce deregulation soon." He added, "Since the system must be lifted without distinguishing between administrative and legal districts, I will also prioritize consultations with Seoul City until the entire Jamsil area zone is finally lifted, doing my best to ensure that local residents can experience the abolition of the system as soon as possible."
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