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A Study on Appraisal of Public Water Reclamation Licence Right - Focus on Saemangeum Development Project -

  • Public Land Law Review
  • Abbr : KPLLR
  • 2015, 68(), pp.161-182
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Kim,Jong Ha 1

1목원대학교

Accredited

ABSTRACT

The Public Waters Management and Reclamation Act is the governing law for public waters reclamation projects in general. The Special Act on Promotion of and Support for the Saemangeum Project is a special act of the said Act, which includes special case provisions governing supply and ownership of lands created by public waters reclamation, and transfer and acquisition of reclamation license. Neither Act, however, includes any provision on appraisal for transfer and acquisition of reclamation license. Therefore, appraisal of reclamation license needs to be conducted based on consideration of all matters and laws related. The Saemangeum Project, which this Study focuses on, involves supply of raw lands. However, since the project does not specify the concept of such raw lands, transfer and acquisition of reclamation license may include supply of raw lands. In other words, transfer and acquisition of reclamation license include transfer and acquisition of the ownership of lands in the future, as well as transfer and acquisition of the license itself. Therefore, appraisal of transfer and acquisition of reclamation license needs to be conducted based on consideration of the appraisal of the lands, as well as the appraisal of the license right itself. In light of the above, this Study concludes that appraisal of reclamation license should consist of appraisal of public waters and appraisal of the exposed sites, and the former should be conducted using the historic cost method, while the latter should be conducted using the market approach based on the original purpose of reclamation before change.

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