Land Transaction Permit Zones Designated Near Gwangju Military Airport; Effective from the 14th

The site of Gwangju Military Airport and its surrounding areas, slated for the development of a semiconductor cluster in the Honam region, have been designated as land transaction permit zones.
The Ministry of Land, Infrastructure and Transport announced today (July 9) that, following a review by the Central Urban Planning Committee, a total of 364.19 square kilometers in the planned area for the Honam High-Tech Semiconductor National Industrial Complex will be designated as land transaction permit zones for two years.
The designated areas include Dong-gu, Seo-gu, Nam-gu, Buk-gu, and Gwangsan-gu in the Gwangju-Jeonnam Integrated Metropolitan City, as well as Naju, Jangseong-gun, and Hwasun-gun. The designation will take effect starting the 14th.
The designation period runs until July 13, 2028.
As Gwangju Military Airport was selected as the site for the Honam semiconductor cluster project, one of the government's three major mega-projects, concerns have been raised regarding the influx of speculative demand driven by expectations of development.
The Ministry of Land, Infrastructure and Transport pursued the designation of land transaction permit zones to preemptively block rising land prices and speculative transactions.
In land transaction permit zones, individuals must obtain permission from the head of the relevant local government to trade land exceeding a certain size.
Land must be used for the purpose for which permission was granted, and speculative transactions that are not for actual use are restricted.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.