Yongin City Establishes Measures for Suji District Land Transaction Permission Zone Designation

Preparation of Manuals and Assignment of Dedicated Personnel
Support for Genuine Homebuyers and Residents in Redevelopment Areas

Yongin City in Gyeonggi Province announced on October 27 that it has established response measures to minimize inconvenience and confusion among residents following the designation of parts of Suji District as a land transaction permission zone.

The city first held an emergency meeting and created a standard response manual to address confusion and disruption in housing transactions resulting from the zone designation. The manual includes criteria for permission eligibility, the permission process and required documents, obligations for actual residence, and the scope of recognized exceptions.

The city has also assigned dedicated personnel for land transaction permission response within the Suji District Office. These staff members will systematically guide residents regarding eligibility, application procedures, and verification of actual residence according to the standard response manual, and will provide consultations both by phone and on-site.

Lee Sangil, Mayor of Yongin, stated, "We will thoroughly review the situation on the ground and prepare support measures to ease inconvenience for citizens and assist genuine homebuyers and residents in redevelopment areas who are experiencing confusion."

Previously, through the October 15 real estate measures, the government designated all of Seoul and 12 areas within Gyeonggi Province, including Suji District in Yongin, as land transaction permission zones. The designation took effect on October 20.

With this designation, transactions involving houses, apartment pre-sale rights, and union member move-in rights in Suji District are only permitted if the purpose is actual residence. For permitted properties, there is a mandatory residency requirement of at least two years. Violation of this requirement will result in a fine and cancellation of the permission.

For apartments, eligibility for permission is determined by the land share, not the floor area of the unit. In residential areas, properties exceeding 6 square meters, and in commercial areas, those exceeding 15 square meters, require permission.

When trading residential properties within the zone, a contract conditional upon obtaining permission must be drawn up. If permission is not granted, the contract is invalid. The official contract is to be completed after permission is approved, and the deposit is paid at that time.

The application for permission must be submitted by the buyer in their own name to the relevant district office. After receiving permission, the balance payment and transfer of ownership registration must be completed within four months.