Yongin Mayor Baek Kun-gi Draws Sword Against Speculators

[Suwon Ilbo=Reporter Park No-hoon] Yongin Mayor Baek Kun-gi has instructed strict blockade and stern response against speculative forces linked to the SK Semiconductor Cluster and Platform City business zones in connection with large-scale project speculation allegations that have recently emerged.

In particular, the Platform City construction project included in the Third New City is scheduled to receive land-in-kind compensation for landowners within the incorporated area, which requires thorough exclusion of speculative demand.

Land-in-kind compensation is a system in which urban development project implementers compensate with land supplied in the relevant area instead of cash. In the case of Platform City, the target is landowners who own 200㎡ or more of green area, with maximum supply of 990㎡ for residential areas and less than 1,100㎡ for commercial areas.

According to Yongin City, land transaction status within Platform City has been continuously monitored, and as a result of identifying land transaction status within Platform City from May 2019 to January 2021, suspicious land share transactions for land-in-kind compensation purposes (average area of 206㎡) occurred in 65 cases totaling 13,202㎡ across 32 parcels.

This accounts for approximately 0.48% of the total Platform City area, but it was confirmed that a total of 46 cases (approximately 81%) were concentrated during the three months prior to the resident public notice date (July 1, 2020).

Accordingly, Yongin City is taking the position that it will actively discuss with the joint project implementer regarding adjusting the volume of land-in-kind compensation and establishing detailed priority standards to block speculative forces targeting land-in-kind compensation and establish compensation plans for the second half of this year to prevent damage to original residents.

The 60.1㎢ total area of Won-sam-myeon where the SK Semiconductor Cluster will be located has been designated as a land transaction permit zone for three years starting March 23, 2019 to block speculation. Accordingly, land transactions above a certain scale must be conducted only with permission.

Furthermore, Yongin City announced that as a result of self-investigation of all employees in the relevant departments in connection with the SK Semiconductor Cluster and Platform City construction projects, it was confirmed that there were no facts of holding land within the project site.

Additionally, the investigation scope will be expanded to all employees and families of Yongin City and Yongin Urban Development Corporation to conduct a full investigation on whether they hold or trade land, and in cases of suspicion, self-punishment for illegal acts along with measures such as requesting investigation and filing charges in accordance with relevant laws and regulations including the Anti-Corruption Act and Public Official Ethics Act.

Mayor Baek Kun-gi of Yongin stated, "Speculation by public officials using internal information cannot be tolerated, and such acts must be punished very severely to prevent recurrence in the future. In the event that illegal matters are confirmed as a result of the full investigation, we will take strong measures including not only self-punishment but also requesting investigation and filing charges."