Property Right and Regulation: Focusing on Greenbelt Regulation (규제수용과 보상판단: 개발제한구역 규제를 중심으로)

Iljoong Kim (김일중); 이호준

Property Right and Regulation: Focusing on Greenbelt Regulation

Korea Real Estate Review
2016, 26(4), pp.109~129
Publisher : korea real estate research institute
Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
Published : December 31, 2016

Iljoong Kim ¹, 이호준 ²

¹성균관대학교
²한국개발연구원

Accredited

ABSTRACT

This paper tries to answer the question of whether a regulation requires compensation to the regulated. We examined the weakness of previous economic models on this issue and suggested a new formula and scrutiny process to determine whether to compensate or not by synthesizing the theories of Michelman(1967) and Epstein(1985). The suggested formula with the six-step scrutiny utilizes an extended concept of efficiency which encompasses the conventional norms of fairness. We think the formula is more useful and workable in practice, specially at courts than the previous models. We finally tested the workability of the formula with the case study on the Green Belt regulation of Korea, and we showed that the strongest land regulation requires compensation to the regulated.

KEYWORDS

regulatory takings, compensation, six-step scrutiny

Citation status

* References for papers published after 2023 are currently being built.

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