"Civil Complaints Surge After Land Transaction Permit Zone Designation"... Gangdong District Mayor Lee Soohee Conducts On-Site Inspection

In relation to the government's October 15 real estate measures, Gangdong District in Seoul announced that Mayor Lee Soohee personally visited sites handling civil complaints on October 28 to inspect the response to the surge in inquiries following the designation of the land transaction permission zone, and to check on residents' inconveniences.

Lee Soohee, Mayor of Gangdong District, inspecting the civil complaint site following the designation of the land transaction permission zone. Provided by Gangdong District.

This inspection was conducted to strengthen the district's preemptive response system, as the designation of land transaction permission zones has been expanded throughout Seoul, resulting in all apartment complexes in Gangdong District being subject to the new regulations and a sharp increase in both in-person and telephone inquiries.

According to the government's October 15 real estate measures, since October 20, any transaction involving apartments exceeding 6 square meters in residential areas or 15 square meters in commercial areas requires prior approval before the contract is signed. In addition, the purchaser must move in within four months of the approval date and reside there for at least two years. Failure to comply will result in a compulsory performance fine of up to 10% of the land acquisition price.

To minimize confusion and inconvenience for residents, Gangdong District has posted details about the designated permission zones and application forms on the district’s official website, and is strengthening informational outreach in cooperation with the Gangdong District branch of the Korea Association of Realtors. The district has also prepared sample land use plans and a frequently asked questions (Q&A) section to help civil petitioners better understand the process.

During the on-site inspection, Mayor Lee Soohee listened to the difficulties faced by staff at the consultation desks and reviewed efficient response measures for the increasing number of in-person and phone inquiries. Mayor Lee stated, “With all apartments in Gangdong District now subject to the land transaction permission requirement, we expect significant inconvenience for residents, especially regarding the actual residence requirement. We will thoroughly monitor the complaint sites and respond swiftly to minimize administrative confusion.”

Detailed information regarding land transaction permission can be found on the Gangdong District Office website or by calling the main number (02-3425-6190).