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Realization of Just Compensation under the Constitution of the Republic of Korea and Suggestions for the Improvement of the Current Compensation Law - A comparative study of the compensation legislation in Germany and Korea -

  • Korea Real Estate Review
  • 2020, 30(4), pp.57-70
  • DOI : 10.35136/krer.30.4.5
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Received : November 9, 2020
  • Accepted : December 11, 2020
  • Published : December 31, 2020

Namchul Chung 1

1숙명여자대학교

Accredited

ABSTRACT

Land expropriation and compensation procedures in Korea are centered around project implementers. Just compensation is closely related to the compensation for eminent domain. However, the compensation for expropriation needs to be distinguished from adjustment compensation. Adjustment compensation does not require full compensation in principle, but the need for and the level of compensation is left to the legislator's decision. In order to realize just compensation under the Constitution, the objective market value should be reflected, but in reality, land compensation is based on the official assessed land price subjected to some criticisms. Since the compensation consignment system is operated mainly by public institutions, it is also questionable whether compensation fully reflects the market value from the landowners’ viewpoint. From the perspective of compensation legalism, it is desirable to stipulate so-called indirect loss compensation in the law, not in the executive order(Enforcement Rules). In addition, the principle of just compensation provided in the Constitution should be defined more specifically in the law. Currently, only the public nature of real estate appraisal is emphasized, but institutional arrangements need to be improved upon to ensure professionalism and objectivity of appraisal.

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