Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the on the of Public Land Reservation Act and those necessary for enforcing that Act.
Article 2(Plans to be considered when formulating comprehensive plans for reservation of public land) #
"Plans prescribed by Presidential Decree" in Article 4(2)5 of the Act on the Public Land Reservation Act (hereinafter referred to as the "Act") means the following: <Amended on Jan. 7, 2010; Oct. 14, 2010; Apr. 27, 2012; Mar. 11, 2014; Jul. 7, 2014; Sep. 5, 2017; Sep. 18, 2018; Jul. 7, 2023>
1. Do comprehensive plans, Si/Gun comprehensive plans, and regional plans under Article 6 of the Framework Act on the National Land;
2. Comprehensive plans for local era under Article 6 of the Special Act on Local Autonomy and Decentralization, and Balanced Regional Development and City/Do plans for local era under Article 7 of that Act;
3. National core transport network plans under Article 4(1) of the National Transport System Efficiency Act and mid-term plans for investment in transport facilities under Article 6(1) of that Act;
4. Master plans for intercity transport in metropolitan areas under Article 3 of the Special Act on the Management of Intercity Transport in Metropolitan Areas and implementation plans for intercity transport in metropolitan areas under Article 3-2 of that Act;
5. Urban railroad network plans under Article 5(1) of the Urban Railroad Act;
6. Master plans for national logistics under Article 11 of the Framework Act on Logistics Policies;
7. Master plans for reclamation of public waters under Article 22 of the Public Waters Management and Reclamation Act;
8. Comprehensive plans for state property under Article 9 of the State Property Act and public property management plans under Article 10 of the Public Property and Commodity Management Act;
9. Master plans for public-private partnership projects under Article 7 of the Act on Public-Private Partnerships in Infrastructure;
10. Master plans for development of tourism and plans for zonal development of tourism under Article 49 of the Tourism Promotion Act;
11. Sector Plans under Article 17 of the Framework Act on National Land, excluding the plans under subparagraphs 2 through 10;
12. Other plans that affect the supply of and demand for land or that are related to land use.
Article 3(Matters to be included in comprehensive plans for reservation of public land) #
"Matters prescribed by Presidential Decree" in Article 4(3)8 of the Act means measures to manage land supply and demand and stabilize the land market based on mid- and long-term prospects for the supply of and demand for land and the land market under subparagraph 3 of that paragraph.
Article 4(Application by head of central administrative agency to reserve land) #
(1) Where the head of a central administrative agency, the Special Metropolitan City Mayor, a Metropolitan City Mayor, a Do Governor, a Special Self-Governing Province Governor (hereinafter referred to as "Mayor/Do Governor"), or a project operator of a public works project under Article 4 of the Act on Acquisition of and Compensation for Land for Public Works Projects (hereinafter referred to as "public project operator") files an application for the reservation of land necessary for business affairs and projects under his or her jurisdiction under Article 5(4) of the Act, he or she shall submit it to the Minister of Land, Infrastructure and Transport, stating the following: <Amended on Mar. 23, 2013>
1. The name or title and domicile of the project operator;
2. The type and name of the project;
3. The planned project area;
4. Grounds for applying for reservation of land;
5. The time when the relevant land is to be supplied.
6. Annual project costs (including total project costs).
(2) When an application for the reservation of land is filed pursuant to paragraph (1), the following documents and drawings shall be attached thereto: <Amended on Mar. 23, 2013>
1. Specifications of the land for which the reservation application is filed;
2. Drawings describing the planned project area and the project plan;
3. Where permission, authorization, designation, approval, consultation, reporting, etc. has been granted or made with respect to the implementation of the project under the relevant statutes and regulations, documents proving such fact;
4. Funding plan (where there is a plan for preferential payment of land price, including the details thereof);
5. if any consultation is held with the head of the central administrative agency related to the budget, documents explaining the consultation;
6. Other matters deemed necessary by the Minister of Land, Infrastructure and Transport.
(3) When the Minister of Land, Infrastructure and Transport formulates an annual implementation plan for the reservation of public land (hereinafter referred to as the "implementation plan") under Article 5(1) of the Act, he or she shall receive an application for reservation of land under paragraphs (1) and (2) within a fixed period of at least 15 days. <Amended on Mar. 23, 2013>
Article 5(Application by head of central administrative agency for land supply) #
(1) Where the head of a central administrative agency, a Mayor/Do Governor, or a public works operator files an application for the supply of land necessary for the business affairs and projects under his or her jurisdiction pursuant to Article 5(4) of the Act, he or she shall submit it to the Minister of Land, Infrastructure and Transport, stating the following matters: <Amended on Mar. 23, 2013>
1. The name or title and domicile of the project operator;
2. The type and name of the project;
3. The planned project area;
4. Grounds for application for supply and plan for utilization of land;
5. The time when the relevant land is to be supplied.
(2) When an application for the supply of reserved land is filed pursuant to paragraph (1), the following documents and drawings shall be attached thereto: <Amended on Mar. 23, 2013>
1. Funding plan;
2. Specifications of land for which the application for supply is filed;
3. Drawings describing the planned project area and the project plan;
4. Other matters deemed necessary by the Minister of Land, Infrastructure and Transport.
(3) Article 4(3) and (4) shall apply mutatis mutandis to the period for filing an application for supply of reserved land and the notification of whether the matters in the application are reflected in the implementation plan. In such cases, "application for reservation of land" shall be construed as "application for supply of land".
Article 6(Methods of survey on supply of and demand for land) #
(1) The Minister of Land, Infrastructure and Transport shall conduct a survey on the supply of and demand for public land under Article 6(1) of the Act (hereinafter referred to as "survey on the supply of and demand for land") by classifying it into a regular survey conducted on a yearly basis and an occasional survey conducted on a specific area or specific item if necessary. <Amended on Mar. 23, 2013>
(2) Where the Minister of Land, Infrastructure and Transport conducts a survey on the supply of and demand for land, he or she shall preferentially consider the following matters: <Amended on Mar. 23, 2013>
1. Factors affecting the supply of and demand for land;
2. Demand for land in consideration of economic factors, such as population and industry;
3. Sites that can be supplied, and the scale thereof, taking into account developable land, such as State-owned land, public land, farmland, mountainous districts, coastal sea and coastal land (including land reclaimed from public waters and land to be reclaimed from public waters);
4. Trends in land markets, such as land prices and transaction volume;
5. Plans under the subparagraphs of Article 4(2) of the Act and plans under the subparagraphs of Article 2 of this Decree, and current status of public works projects under those plans.
(3) When the Minister of Land, Infrastructure and Transport conducts a survey on the supply of and demand for land, he or she shall conduct a survey on the aggregate supply of and aggregate demand for land, along with the supply of and demand for land by sector, such as region, plan, use, and subject. In such cases, the scope and subjects of the survey may be adjusted in consideration of various circumstances, such as the form of the survey on the supply of and demand for land. <Amended on Mar. 23, 2013>
(4) The Korea Land and Housing Corporation established under the Korea Land and Housing Corporation Act (hereinafter referred to as the "Korea Land and Housing Corporation") may constantly investigate and analyze land prices, land transaction trends, land-related economic indicators, major policies and plans related to land supply and demand, and business trends, and submit the results thereof to the Minister of Land, Infrastructure and Transport in order to support the survey on the supply and demand of land. <Amended on Sep. 21, 2009; Mar. 23, 2013>
Article 7(Procedures related to survey on supply of and demand for land) #
(1) Upon receipt of a request for materials under Article 6(2) of the Act, the head of the central administrative agency, the Mayor/Do Governor, or the public project operator shall submit the relevant materials to the Minister of Land, Infrastructure and Transport within 30 days from the date of receipt of such request. In such cases, the Mayor/Do Governor shall collect and submit materials from the competent Si/Gun/Gu. <Amended on Mar. 23, 2013>
(2) The Minister of Land, Infrastructure and Transport may receive materials, which he or she has requested the head of relevant central administrative agency, the Mayor/Do Governor, or the public project operator to summit pursuant to Article 6(2) of the Act, through electronic media or information and communications networks. <Amended on Mar. 23, 2013>
Article 8(Commissioning of non-governmental experts) #
The Minister of Land, Infrastructure and Transport shall commission any of the following persons as a member of the Committee for Deliberation on Public Land Reservation under Article 7 of the Act (hereinafter referred to as the "Land Reservation Committee") in accordance with Article 8(2)8 of the Act: <Amended on Mar. 23, 2013; May 21, 2019>
1. A person who has at least 5 years of work experience as an associate professor or in an equivalent or higher position at a school under Article 2 of the Higher Education Act;
2. A person who has at least 10 years of experience in research at a government-funded research institute under Article 2 of the Act on the Establishment, Operation and Fostering of Government-Funded Research Institutes;
3. Other persons recognized by the Minister of Land, Infrastructure and Transport, who have extensive knowledge of and experience in land policy.
Article 8-2(Decommission of committee members) #
Where a member of the Land Reservation Committee under Article 8 falls under any of the following disqualifications, the Minister of Land, Infrastructure and Transport may decommission the relevant member:
1. Where a member becomes unable to perform his or her duties due to mental or physical disability;
2. Where a member commits misconduct in connection with to his or her duties;
3. Where a member is deemed unfit to serve as a member due to neglect of duty, loss of dignity, or any other reason;
4. Where a member shows his or her will not to continue his or her duties as a member.
[This Article Added on Dec. 31, 2015]
Article 9(Operation of Land Reservation Committee) #
(1) The chairperson of the Land Reservation Committee shall convene and preside over meetings of the Committee.
(2) Where the chairperson intends to hold a meeting of the Land Reservation Committee, he or she shall notify each member of the Committee of the date, time, and place of the meeting and the agenda for deliberation by no later than 3 days before holding the meeting; provided, this shall not apply in urgent cases.
(3) A majority of the members of the Land Reservation Committee under Article 8(2) of the Act shall constitute a quorum, and any decision thereof shall require concurring votes of at least a majority of those present.
(4) The Land Reservation Committee may, if deemed necessary for deliberation and resolution, require the heads of related agencies or relevant persons to attend its meetings to hear their opinions.
(5) Except as provided for in this Decree, matters necessary for operating the Land Reservation Committee shall be determined by the Minister of Land, Infrastructure and Transport through resolution by the Land Reservation Committee. <Amended on Mar. 23, 2013>
Article 10(Management and operation of land bank account) #
(1) The Land Bank account under Article 9 of the Act shall be managed and operated by the Korea Land and Housing Corporation. <Amended on Sep. 21, 2009>
(2) The fiscal year of the Land Bank Account shall be the same as that of the Korea Land and Housing Corporation <Amended on Sep. 21, 2009>
Article 11(Budget and settlement of land bank accounts) #
(1) The Korea Land and Housing Corporation shall formulate a budget for the land banking services under Article 11 of the Act and finalize the budget after obtaining approval from the Minister of Land, Infrastructure and Transport through resolution by the Land Reservation Committee. <Amended on Sep. 21, 2009; Mar. 23, 2013>
(2) The budget under paragraph (1) shall include following:
1. Matters relating to the revenue and expenditure of the land bank account;
2. Matters relating to the scale of the land bank reserve;
3. Matters relating to the scale of financial resources necessary for the land banking services and the methods of funding.
(3) The Korea Land and Housing Corporation shall finalize the settlement of accounts for the land bank with the approval of the Minister of Finance and Economy within 3 months after the end of each fiscal year through resolution by the Land Reserve Committee. <Amended on Sep. 21, 2009; Dec. 30, 2025>
Article 12(Establishment and operation of land reservation information systems) #
(1) The Korea Land and Housing Corporation shall operate a land reservation information system so that the heads of central administrative agencies, local governments, and public project implementers may use information on public land, such as the current status of public works and individual location information. <Amended on Sep. 21, 2009>
(2) The land reservation information system may include the following matters:
1. National territory spatial data to support the formulation of land reservation plans;
2. Land-related information through surveys on the supply of and demand for land.
(3) Matters necessary for the establishment and operation of the land reservation information system shall be determined by the president of the Korea Land and Housing Corporation through deliberation by the Land Reservation Committee. <Amended on Sep. 21, 2009>
Article 13(Real estate financing) #
"Funds raised ... by real estate financing prescribed by Presidential Decree" in Article 12(1)3 of the Act means funds raised by attracting investments in land banking services from any of the following corporations: <Amended on Sep. 5, 2017; Feb. 17, 2021>
1. A real estate investment trust defined in subparagraph 1 of Article 2 of the Real Estate Investment Company Act;
2. Collective investment schemes under Article 9(18) of the Financial Investment Services and Capital Markets Act;
3. A corporation that meets all the requirements prescribed in the subparagraphs of Article 104-31(1) of the Restriction of Special Taxation Act.
Article 14(Financial resources of land bank) #
Where the Land Reservation Committee determines that financial resources for the land bank should be raised pursuant to Article 12(1)6 of the Act, the Government may partially subsidize expenses incurred in providing land banking services within the budget.
Article 15(Reporting on operational status of land bank) #
Pursuant to Article 13(1) of the Act, the president of the Korea Land and Housing Corporation shall submit to the Minister of Land, Infrastructure and Transport a report on the operation of the land bank, including the current status of land banking services and the procurement and operation of funds pursuant to Article 13(1) of the Act, within 3 months after the end of each fiscal year. <Amended on Sep. 21, 2009; Mar. 23, 2013>
Article 16(Matters to be included in project plans for reservation of land for public development) #
"Matters ... prescribed by Presidential Decree" in Article 14(1)4 of the Act means the current status of the use of land to be reserved.
Article 17(Procedures for application for approval of project plans for reservation of land for public development) #
(1) When the Korea Land and Housing Corporation intends to obtain approval of a project plan for reservation of land for public development pursuant to Article 14(1) of the Act, it shall submit an application for approval of land reservation project to the Minister of Land, Infrastructure and Transport, along with the following documents and drawing: <Amended on Sep. 21, 2009; Mar. 23, 2013>
1. The project plan for reservation of land for public development;
2. A funding plan (including an annual fund investment plan and a financing plan);
3. A drawing indicating the planned project area;
4. A document proving that the public project operator has obtained project approval under Article 20(1) of the Act on Acquisition of and Compensation for Land for Public Works Projects or is deemed to have obtained project approval under other statutes.
(2) Where the Korea Land and Housing Corporation obtains approval of a project plan for the reservation of land for public development, it may provide matters relating to such plan to the general public through a computer network or electronic media. <Amended on Sep. 21, 2009>
Article 18(Scope of acquisition of land for public development) #
(1) The Korea Land and Housing Corporation shall conduct business affairs relating to the acquisition of land, thing, or right (hereinafter referred to as "land, etc.") and compensation for losses in accordance with the Act on Acquisition of and Compensation for Land for Public Works Projects and related statutes and regulations to acquire land for public development pursuant to Article 16(1) of the Act; provided, when it conducts business affairs relating to the acquisition of land, etc. and compensation for losses, it shall consult with the public project operator of the relevant project. <Amended on Sep. 21, 2009>
(2) When the Korea Land and Housing Corporation conducts business affairs relating to the acquisition of land, etc. and compensation for losses and if it is necessary to consult with the head of the relevant administrative agency for permission, authorization, designation, approval, consultation, reporting, etc. under the relevant statutes and regulations, it may request the public project operator to conduct such consultation with the head of the relevant administrative agency. <Amended on Sep. 21, 2009>
Article 19(Approval of purchase plans) #
Where the Minister of Land, Infrastructure and Transport intends to approve matters relating to a purchase plan under Article 17(1) of the Act, he or she shall comprehensively consider the objectives of land reservation, financial resources, and conditions of the relevant public works project in accordance with the implementation plan for the relevant year. <Amended on Mar. 23, 2013>
Article 20(Purchase price of land requested for purchase) #
The Korea Land and Housing Corporation shall request at least 2 appraisal corporations, etc. (referring to appraisal corporations, etc. under the Act on Appraisal and Certified Appraisers; hereinafter the same shall apply) to appraise the land for which a landowner has requested purchase pursuant to Article 17(1) of the Act and purchase it at the arithmetic mean of the appraised values. <Amended on Sep. 21, 2009; Aug. 31, 2016; Sep. 5, 2017; Jan. 21, 2022>
Article 21(Details of public announcement of purchase plan) #
"Matters prescribed by Presidential Decree" in Article 17(2)4 of the Act means as follows:
1. Matters relating to disposal of fixtures to the land to be purchased and rights other than ownership of the land;
2. Matters relating to bearing of expenses incurred in calculating the purchase price;
3. Reasons for rescission of the purchase agreement.
Article 22(Procedures for purchase requests) #
(1) A landowner who intends to request the Korea Land and Housing Corporation to purchase land for public development pursuant to Article 17 of the Act shall submit a written request for purchase of land, stating the following matters, to the Korea Land and Housing Corporation, along with documents prescribed by Decree of the Ministry of Land, Infrastructure and Transport: <Amended on Sep. 21, 2009; Mar. 23, 2013>
1. The name and domicile of the landowner (in the case of a corporation, the name of the corporation and the name of its representative);
2. Land lot number, land category, and current status of use of land;
3. Where any right, other than ownership, is established on the relevant land, the type and details of such right, and the name and domicile of the right holder (in the case of a corporation, the name of the corporation and the name of its representative).
(2) The Korea Land and Housing Corporation shall notify the purchase requester of the estimated purchase price, etc. within 15 days from the date of receipt of the request for the purchase of land. <Amended on Sep. 21, 2009>
(3) Expenses incurred in purchasing land under Article 17 of the Act shall be borne by the Korea Land and Housing Corporation; provided, where the purchase requester withdraws his or her request for purchase, he or she shall bear fees, etc. under Article 23 of the Act on Appraisal and Certified Appraisers and cadastral survey fees under Article 106(2) of the Act on the Establishment and Management of Spatial Data. <Amended on Sep. 21, 2009; Dec. 14, 2009; Jun. 1, 2015; Aug. 31, 2016>
(4) Notwithstanding the proviso of paragraph (3), where the purchase requester withdraws his or her purchase request due to any of the following grounds, the Korea Land and Housing Corporation shall bear the fees, etc. under the proviso of that paragraph: <Amended on Sep. 21, 2009>
1. Where the purchase price calculated under Article 20 is at least 30 percent lower than the estimated purchase price under paragraph (2);
2. Where the grounds for requesting the purchase of the relevant land cease to exist due to the change or abolition of the public works project that intends to use the land.
Article 23(Matters to be included in project plans for reservation of land, etc. for adjustment of supply and demand) #
"Matters prescribed by Presidential Decree" in Article 18(1)4 of the Act means as follows:
1. Matters relating to the reservation and supply of land transferred to the land bank account;
2. Matters relating to the reservation and supply of land recognized by the Land Reservation Committee under subparagraph 1f of Article 2 of the Act.
Article 24(Procedures for application for approval of plans for reservation of land for adjustment of supply and demand) #
(1) Where the Korea Land and Housing Corporation intends to obtain approval of a project plan for reservation pursuant to Article 18(1) of the Act, it shall submit the following documents: <Amended on Sep. 21, 2009>
1. Purchase plan for land to be reserved by region and by use;
2. Statement of reasons for selection of land to be reserved;
3. Funding plan (including an annual fund investment plan and financing plan);
4. Plan for managing and supplying reserved land;
5. A drawing showing the location of the land to be reserved on a topographical map of 1:5,000 or 1:25,000 scale.
(2) Where the Minister of Land, Infrastructure and Transport approves a project plan for the reservation of land, etc. for the adjustment of supply and demand, the Korea Land and Housing Corporation shall notify the Special Self-Governing Province Governor and the head of the Si/Gun/Gu having jurisdiction over the relevant land of matters relating to the approval of the project plan for the reservation. <Amended on Sep. 21, 2009; Mar. 23, 2013>
(3) Where the Korea Land and Housing Corporation obtains approval of a project plan for the reservation of land, etc. for the adjustment of supply and demand, it may provide matters relating to the relevant plan to the general public through a computer network or electronic media. <Amended on Sep. 21, 2009>
Article 25(Public announcement of purchase plans for land, etc. for adjustment of supply and demand) #
(1) When the Korea Land and Housing Corporation intends to publicly announce a purchase plan for land, etc. for the adjustment of supply and demand pursuant to Article 19(1) of the Act, it shall publish such purchase plan in daily newspapers and on the website of the Korea Land and Housing Corporation by no later than 20 days before the commencement date of the purchase period. <Amended on Sep. 21, 2009>
(2) Notwithstanding paragraph (1), in the case of urgency or re-announcement, public announcement may be made no later than 7 days before the commencement date of the purchase period.
(3) Article 21 shall apply mutatis mutandis to the public announcement of a plan for purchasing land, etc. for adjustment of supply and demand.
Article 26(Purchase price) #
Land, etc. for the adjustment of supply and demand shall be purchased at a price calculated pursuant to Article 20; provided, where land recognized by the Land Reservation Committee pursuant to subparagraph 1f of Article 2 of the Act is purchased, it may be purchased by means of reverse auction, etc. under Article 10(3) of the Enforcement Decree of the Act on Contracts to Which the State Is a Party.
Article 27(Establishment and operation of examination committee on standards for supply of reserved land) #
(1) An examination committee on standards for supply of reserved land shall be established and operated in the Korea Land and Housing Corporation in order to review matters related to the standards for supply of reserved land under Article 7(2)3 and Article 22(1) of the Act in advance of the Land Reservation Committee's review thereof. <Amended on Sep. 21, 2009>
(2) The examination committee on standards for supply of reserved land under paragraph (1) shall be comprised of up to 10 members, including 1 chairperson, and the chairperson shall be elected by and from among the members specified in the subparagraphs.
(3) The members of the examination committee on standards for supply of reserved land under paragraph (2) shall be any of the following persons: <Amended on Sep. 21, 2009; Mar. 23, 2013; Dec. 30, 2025>
1. A person designated by the Minister of Land, Infrastructure and Transport from among Grade IV or higher-ranking public officials of the Ministry of Land, Infrastructure and Transport:
2. A person designated by the Minister of Finance and Economy from among Grade IV or higher-ranking public officials of the Ministry of Finance and Economy;
3. A person designated by the president of the Korea Land and Housing Corporation from among employees of the Korea Land and Housing Corporation;
4. A person commissioned by the president of the Korea Land and Housing Corporation, from among accountants, certified appraisers, attorneys-at-law, and persons holding office in a college or university, research institute, etc. who have abundant knowledge and experience in the field of land;
(4) Except as provided in paragraphs (1) through (3), matters necessary for the composition, operation, etc. of the examination committee on standards for supply of reserved land shall be determined by the president of the Korea Land and Housing Corporation <Amended on Sep. 21, 2009>
Article 28(Supply of land for public development) #
(1) The Korea Land and Housing Corporation shall supply the land reserved for public development to the relevant public works project operator at a price including the following (hereinafter referred to as "supply price of land for public development"): <Amended on Sep. 21, 2009>
1. Acquisition of the relevant land, etc. and compensation for losses;
2. Incidental expenses, such as cadastral survey fees, appraisal fees, and registration fees;
3. Labor expenses and administrative expenses;
4. Various taxes and public charges;
5. Capital;
6. Various charges;
7. Relocation costs;
8. Expenses for litigation and administrative vicarious execution;
9. Expenses incurred in removing obstacles and disposing of wastes, or other expenses incurred in reserving and supplying the relevant land.
(2) Details of the supply price of land for public development shall be prescribed by Decree of the Ministry of Land, Infrastructure and Transport, but in the case of supply to the State or a local government, the Land Reservation Committee may separately determine the matter specified in paragraph (1)5. <Amended on Mar. 23, 2013>
(3) Notwithstanding paragraph (1), land for public development purchased pursuant to Article 17(1) of the Act shall be supplied at the compensation price calculated pursuant to the statutes and regulations providing the legal basis for the relevant public works project; provided, at the request of the relevant public works project operator, it may be supplied at the price referred to in paragraph (1).
(4) Where the Korea Land and Housing Corporation is a public works project operator, the reserved land shall be transferred from the land bank account to the Korea Land and Housing Corporation's own account, and the value of the relevant land shall be the supply price of land for public development. <Amended on Sep. 21, 2009>
(5) Except as provided in paragraphs (1) through (4), detailed matters relating to the supply of land for public development shall be determined by the Minister of Land, Infrastructure and Transport through deliberation by the Land Reservation Committee. <Amended on Mar. 23, 2013>
Article 29(Supply of land, etc. for adjustment of supply and demand) #
(1) In principle, land, etc. supplied by the Korea Land and Housing Corporation for adjustment of supply and demand shall be supplied to end-users in order to stabilize the land market and promote land use. <Amended on Sep. 21, 2009>
(2) Land, etc. for adjustment of supply and demand shall be supplied by lottery, but in any of the following cases, land, etc. may be supplied by competitive bidding (including the method of determining a successful bidder by evaluating a project plan for the relevant land and the method of selective competition or limited competition by designating a specific purpose of use); provided, in cases falling under subparagraph 1, it shall be supplied by means of competitive bidding: <Amended on Dec. 30, 2014>
1. Where the land is to be used for profit-making purposes, such as a site for sales facilities;
2. Where the land is to be used for constructing housing and is transferred to the land bank account for adjusting the supply of and demand for housing in an area where sites for constructing housing are likely to be oversupplied.
(3) Notwithstanding paragraph (2), such supply may be made by a private contract in any of the following cases:
1. Where the supply is made for diplomatic or national defense reasons;
2. Where the supply is made for disaster recovery or relief following a natural disaster, etc.;
3. Where land is supplied for public interest purposes, such as those specified in the subparagraphs of Article 33(1), and the Land Reservation Committee deems it necessary to supply the land through a negotiated contract.
(4) Where land, etc. for adjustment of supply and demand is supplied pursuant to paragraphs (2) and (3), the supply price (referring to the estimated price in the case of competitive bidding) shall be the arithmetic mean of the values appraised by at least 2 appraisal corporations, etc. requested to do so; provided, in the case of supplying land falling under Article 33(1)5 out of the land referred to in paragraph (3)3, the supply price determined by the Land Reservation Committee may be used. <Amended on Dec. 30, 2014; Aug. 31, 2016; Sep. 5, 2017; Jan. 21, 2022>
(5) Except as provided in paragraphs (1) through (4), detailed matters relating to supply procedures shall be prescribed by Decree of the Ministry of Land, Infrastructure and Transport. <Amended on Mar. 23, 2013>
Article 30(Exceptions to restrictions on resale) #
"Cases prescribed by Presidential Decree, including inheritance" in the proviso of Article 23(1) of the Act means the following cases: <Amended on Aug. 11, 2016; Sep. 5, 2017>
1. In the case of inheritance;
2. In the case of resale (including change of title, sale, and all other activities involving change of rights; hereinafter the same shall apply) or sublease of the land to the State, a local government, a public institution under Article 4 of the Act on the Management of Public Institutions, or a local government-invested public corporation under the Local Public Enterprises Act;
3. In the case of resale or sublease of the land to require a person who has provided a guarantee for sale in lots to perform construction works according to the terms and conditions of the guarantee after bankruptcy, etc. by a person who has registered pursuant to Article 4 of the Housing Act to implement a housing construction project;
4. In the case of resale or sublease of the land by concluding a contract for trust with a trust business entity under the Financial Investment Services and Capital Markets Act for the purpose of managing the development of the relevant land or the sale of the relevant land in lots.
Article 31(Supply under repurchase agreement) #
The Korea Land and Housing Corporation may supply land by additionally stating the registration of a special agreement on repurchase pursuant to Article 590 of the Civil Act and Article 53 of the Registration of Real Estate Act, if it is necessary to require a person supplied with land through land banking services under Article 11 of the Act to use the relevant land for designated purposes. <Amended on Sep. 21, 2009; Sep. 5, 2017>
Article 32(Repurchase value) #
Where the Korea Land and Housing Corporation repurchases land supplied by the land banking business pursuant to Article 23(2) or (3) of the Act, the value thereof shall be the value at the time of supply. <Amended on Sep. 21, 2009>
Article 33(Supply of land transferred to account) #
(1) Pursuant to Article 25(2) of the Act, the methods and conditions of supply of land transferred to the land bank account may be separately set in any of the following cases: <Amended on Jul. 30, 2009; Apr. 29, 2014; Dec. 30, 2014; Dec. 28, 2015>
1. Where a site for industrial facilities is supplied by means of long-term lease, etc. to foster small and medium enterprises under Article 2 of the Framework Act on Small and Medium Enterprises;
2. Where a site for industrial facilities is supplied by means of long-term lease, etc. to promote investment by a foreign-invested company or foreigner-contributed non-profit corporation defined in Article 2(1)6 of the Foreign Investment Promotion Act, or an operator of establishments built to improve a foreign-investment environment defined in subparagraph 7 of that Article;
3. Where land is soled to or supplied by means of long-term lease to public housing project operators under Article 4 of the Special Act on Public Housing in order to lower the price of public housing defined in subparagraph 1 of Article 2 of that Act;
4. Where a site necessary for infrastructure defined in subparagraph 1 of Article 2 of the Act on Public-Private Partnerships in Infrastructure and for the expansion of infrastructure defined in subparagraph 6 of Article 2 of the National Land Planning and Utilization Act is supplied;
5. Where land transferred to the land bank account for the purpose of adjustment of supply and demand in an area where there is a risk of an oversupply of housing construction sites is supplied to the Korea Land and Housing Corporation in order to resolve the housing shortage.
(2) Detailed matters relating to the supply of land under paragraph (1) shall be determined by the Minister of Land, Infrastructure and Transport through resolution by the Land Reservation Committee. <Amended on Mar. 23, 2013>
Article 34(Grounds for preferential purchase of reclaimed land) #
(1) "Grounds prescribed by Presidential Decree" in Article 27(1) of the Act means the following cases: <Amended on Oct. 14, 2010>
1. Where it is impossible to use reclaimed land in which an area equivalent to reclaimed seashores under Article 46(1)2 of the Public Waters Management and Reclamation Act is collectively partitioned, or reclaimed land that is acquired by the State, etc. after reclamation by the State, etc. under Article 35 of that Act, for its original purpose of reclamation due to changes in the national plan, the development of industries, or other changes in surrounding circumstances; or where such reclaimed land is not be used for its purpose of reclamation within 3 years after ownership is acquired;
2. Where the period for requesting the purchase of the remaining reclaimed land under Article 46(1)4 of the Public Waters Management and Reclamation Act or the revaluated reclaimed land under Article 50(1) of that Act has elapsed.
(2) Where the Korea Land and Housing Corporation prefers to purchase reclaimed land under paragraph (1), it shall formulate a project plan for reservation under Article 18 of the Act and obtain approval from the Minister of Land, Infrastructure and Transport. In such cases, the Minister of Land, Infrastructure and Transport shall consult with the license agency under Article 28(4) of the Public Waters Management and Reclamation Act, the head of a central government agency under subparagraph 11 of Article 2 of the State Property Act, or the competent local government under Article 14 of the Public Property and Commodity Management Act. <Amended on Sep. 21, 2009; Oct. 14, 2010; Apr. 1, 2011; Mar. 23, 2013>
(3) The purchase price of reclaimed land under paragraph (1) shall be based on the amount calculated pursuant to Article 20.
Article 35(Application for issuance of documents) #
When the Korea Land and Housing Corporation applies for the issuance of documents necessary for providing land banking services to the State or a local government pursuant to Article 29(1) of the Act, it shall submit an application stating the following matters: <Amended on Sep. 21, 2009>
1. The approved reservation plan;
2. Indication of land, etc. to be reserved;
3. Types and quantity of documents required to be issued;
4. Purposes of use of the documents.
Article 36(Criteria for imposing administrative fines) #
The criteria for imposing administrative fines under Article 31 of the Act shall be as prescribed in Appendix 2.
[This Article Added on Sep. 5, 2017]