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A Study on the Excess Profit Recovery System of Reconstruction Projects

  • Public Land Law Review
  • Abbr : KPLLR
  • 2021, 96(), pp.43-73
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law
  • Received : October 31, 2021
  • Accepted : November 22, 2021
  • Published : November 25, 2021

Jeong Hoe Gun 1

1남서울대학교

Accredited

ABSTRACT

The reconstruction project is a project to improve the residential environment in an area where is the term "fundamental infrastructure" good but the apartment houses that are old or defective buildings are dense. This shall be done by constructing and supplying apartment houses, ancillary facilities, welfare facilities, and officetels in accordance with the management and disposal plan in the maintenance area or in the non-renewal area. The reconstruction project is implemented through the procedures of the project preparation stage, the project implementation stage, the management disposal plan stage, and the project completion stage. The development profit of the reconstruction project is the non-high income obtained without one's own efforts. Acquisition of development profits causes speculation on land and unfair distribution of income. Therefore, development profits generated from the land were recovered and distributed appropriately. In addition, with the purpose of recovering development profits to prevent speculation on land and for efficient use of land, a system for recovering excess profits from reconstruction was implemented. The reconstruction excess profit recovery system was introduced in 2006 and applied in 2008. After that, it was postponed from 2013 to 2017 due to the sharp downturn in the housing market. It was implemented again in 2018 due to the rise in housing prices and the spread of speculation. Reconstruction excess profit recovery system refers to the imposition and collection of reconstruction charges on the excess reconstruction profits obtained from the reconstruction project. Reconstruction charges are calculated by applying a progressive tax rate according to the burden rate. The contribution rate of the reconstruction charge is higher than the basic tax rate of income tax. It has the character of a transfer tax and thus has the character of double taxation. Reconstruction levy directly imposes a financial burden on members. There is room for controversy over the time of imposition, the rate of burden, and protection for those who have no income, which are the criteria for calculating the reconstruction fee. Therefore, there are cases where the reconstruction project is canceled or delayed, so that the efficient reconstruction project is not implemented. Therefore, in this paper, the problems and improvement plans of the reconstruction excess profit recovery system are presented.

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