Land speculation continues in restricted land trading zones

Cases of landowners failing to use purchased land in restricted land trading zones for their stated purposes continue to mount.

According to Gyeonggi Province on the 4th, from the beginning of this year through the end of October, a total of 3,608 cases have been recorded in the 27 cities and counties within the province's restricted land trading zones involving improper land use, illegal leasing, or administrative fines imposed on purchasers.

This nearly approaches the 4,094 cases detected throughout last year, with administrative fines and enforcement charges amounting to 5.001 billion won and 44 million won respectively.

By municipality, Pyeongtaek City, where a U.S. military base relocation is planned, led with 1,079 cases, followed by Namyangju City with 372 cases and Anseong City with 286 cases. By category, unused land after purchase accounted for 2,760 cases, alternative use for 619 cases, and illegal leasing for 195 cases.