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Issues with Official Land Price Policy and Legislative Tasks
Public Land Law Review
Abbr :
KPLLR
2019, 86(), pp.129-147
Publisher : Korean Public Land Law Association
Research Area : Law
2019, 86(), pp.129-147
Publisher : Korean Public Land Law Association
Research Area : Law
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The policy of officially notifying land prices was successful in stabilizing land prices, as well as efficiently executing public projects that served as the basis of Korea’s rapid economic growth. On the other hand, excessively low prices notified by the government for the past thirty years are beginning to create a crisis of the policy. Low official land prices weaken the policy’s ability to provide indicators for real estate transactions, create unfair burdens regarding taxation and welfare costs, and generate conflicts regarding compensations for public projects. The policy of maintaining low official land prices is not the fault of a certain presidential administration: The fact is that it is a political problem that has not been solved by past president from Roh Tae-woo to Moon Jae-in, for the past thirty years. Recent efforts by the government to raise official land prices to realistic levels align with the ideology declared in the Constitution; it is not a simple issue of progressive or conservative ideology, but a matter of justice. As such, the current study seeks to review official real estate prices announced by the government in 2019, as well as key issues and points of conflict, and to propose required improvements and legislative directions, with a focus on legislative theory.
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