Chungcheongnam-do Adjusts Land Transaction Permission Zones in Hongseong and Yesan

Chungcheongnam-do announced on the 10th that it has adjusted the Land Transaction Permission Zones around the candidate site for the Future New Industry National Industrial Complex in Hongseong County and the area designated for the Naepo Agri-Bio Convergence Industry Cluster project in Yesan County. This measure is a proactive response to prevent potential real estate speculation following the adjustment of the industrial complex development areas.
In Hongseong County, since March 25, 2023, a total of 1,179 parcels covering 2,356,000 square meters in Naedeok-ri, Hongbuk-eup, had been designated as a permission zone for five years. With this adjustment, an additional 440 parcels spanning 453,000 square meters in two other villages have been included.
In contrast, Yesan County has lifted the designation for part of the 1,177 parcels (1,666,000 square meters) in Sapgyo-ri, Sapgyo-eup, which was designated on October 23, 2023. Specifically, 412 parcels (675,000 square meters) in three villages have been released, while seven parcels (1,000 square meters) in Yongdong-ri, Sapgyo-eup, have been newly included.
The adjustment was announced on the 10th after review by the Urban Planning Committee, and will take effect five days later, on the 15th.
The designation period for Hongseong County remains unchanged until 2028, while for Yesan County, it has been extended from 2026 to 2028.
Within the Land Transaction Permission Zone, transactions involving land exceeding certain sizes require approval from the mayor or county governor. Specifically, transactions exceeding 500 square meters for farmland, 1,000 square meters for forest land, and 250 square meters for other types of land are subject to this requirement.
Failure to obtain permission or obtaining it through fraudulent means may result in imprisonment for up to two years or a fine of up to 30% of the land’s value. Once permission is granted, the land must be used for the approved purpose for a certain period; violations may lead to penalties.
Comprehensive information on the adjustment of the permission zones can be found in the official notices on the websites of Chungcheongnam-do, Hongseong County, and Yesan County. For details by region, inquiries can be made to the Civil Affairs and Cadastral Division of Hongseong County or the Civil Service Division of Yesan County.
TaekBin Lim, Director of the Land Management Division at Chungcheongnam-do, stated, “This adjustment of the permission zones aims to preemptively block illegal transactions and speculation that may arise from development projects, and to stabilize land prices in development areas.” He added, “We will continue to do our best to protect genuine demand and establish order in real estate transactions.”
kwj5797@fnnews.com Kim Won-jun Reporter