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A Study on the reform of the land development recapture system in the period of low economic growth in Korea

  • Public Land Law Review
  • Abbr : KPLLR
  • 2016, 73(2), pp.65-81
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Soon-Tak Suh 1

1서울시립대학교

Accredited

ABSTRACT

Recently the reform of land development recapture system has attracted interest from policy-makers and academics in the period of low economic growth in Korea. Although the land development recapture system is effective, the system doesn't have ever been enacted in the period of low economic growth. Many economists predict that the Korean economy will be decreased constantly in the future. In this context, this paper is aimed at suggesting the policy implications through institutional analysis of the land development recapture system. The major policy implications are summarized as follows: Firstly, it is necessary to redefine development gain and its recapture system. Secondly, it is needed to improve sharing costs of public facilities among relevant actors. Thirdly, the imbalance between the development area and its peripheral area in the recapturing development gain will be removed. Finally, this study suggests that the rationality and transparency of the development gain recapture system is essential for the period of low economic growth.

Citation status

* References for papers published after 2022 are currently being built.