A Key Turning Point for Advancing as a Defense Industry Hub
LH Sends Individual Notifications for 503 Private Land Parcels
The Nonsan National Defense National Industrial Complex development project, which Nonsan City in South Chungcheong Province is prioritizing, has entered the full-scale compensation process, accelerating the project's progress.
On July 3, Nonsan City announced that it would begin compensation negotiations for land and property to be incorporated into the industrial complex site starting from July 7.
This round of compensation follows the completion of an appraisal in May by the Daejeon-Chungnam Regional Headquarters of Korea Land & Housing Corporation (LH), the project operator. Starting June 30, individual notifications were sent to the owners and stakeholders of 503 privately owned parcels within the project area.
The city plans to complete the negotiations and compensation procedures within this year.
The city intends to protect residents' property rights by ensuring swift compensation negotiations and implementing a fair and transparent process.
A city official stated, "The Nonsan National Defense National Industrial Complex is a core future growth engine for the region and a key project of the 8th popularly elected administration to create high-quality jobs related to national defense. It is an important turning point for advancing as a forward base of the Republic of Korea's defense industry."
The official added, "We will do our utmost to minimize inconvenience for residents during the compensation process and ensure smooth procedures through close communication with relevant organizations."
Meanwhile, the LH Daejeon-Chungnam Regional Headquarters is operating a compensation office on the second floor of Yeonmu Nonghyup Hanaro Mart (33 Anshim-ro, Yeonmu-eup), providing prompt and transparent counseling and guidance on compensation to landowners and stakeholders.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
