On July 3, the city of Anseong in Gyeonggi Province announced that it has re-designated five forest land parcels totaling 40,000 square meters in the Bogae, Iljuk, and Miyang-myeon areas as land transaction permission zones due to concerns over speculative real estate activities. The re-designation period will last for one year, from July 4, 2025, to July 3, 2026.
These parcels were purchased in 2021 by a corporation suspected of engaging in speculative real estate activities. The city has designated them as permission zones out of concern for potential consumer harm. A city official explained, "There has been no change in ownership of the forest land to date," and added, "We have decided to re-designate the area because concerns over consumer harm have not been resolved."
With this re-designation, any contract transferring ownership or superficies rights for the relevant land must obtain land transaction permission or approval for changes. Entering into a contract without permission, or using the land for purposes other than those permitted, may result in imprisonment for up to five years or a fine of up to 20 million won.
Details about the designated zones can be found in the 'Notices/Announcements' section of the Anseong City Hall website.
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