Muan County has designated an area of approximately 3.47 million square meters for the planned 'Muan Distributed Energy Specialized National Industrial Complex' as a land transaction approval zone to prevent speculative real estate transactions and ensure systematic land management.
According to Muan County, 3,171 parcels covering 347,1351 square meters in Dong-san-ri and Oe-ban-ri of Hyun-gyeong-myeon and Mok-dong-ri and Pi-seo-ri of Mang-wun-myeon have been designated as a land transaction approval zone under Article 10 of the Real Estate Transaction Reporting Act.
The designation will be effective from August 30, 2026, until August 29, 2031.
The designated areas include 1.84 square kilometers in Dong-san-ri and Oe-ban-ri of Hyun-gyeong-myeon and 1.63 square kilometers in Mok-dong-ri and Pi-seo-ri of Mang-wun-myeon, totaling 3.47 square kilometers.
This measure is seen as a way to systematically manage land transactions in the area surrounding the planned Muan Distributed Energy Specialized National Industrial Complex and to prevent speculative transactions and rapid increases in land prices driven by development expectations.
Once designated as a land transaction approval zone, any transaction involving land exceeding a certain size requires approval from the relevant administrative authority before the buyer and seller can finalize the contract.
For urban areas, the approval threshold is set at over 60 square meters for areas without designated residential or use zones, and over 200 square meters for green spaces.
In areas outside urban zones, land transactions exceeding 500 square meters for agricultural land, 1,000 square meters for forest land, and 250 square meters for other types of land will require approval.
Upon receiving a land transaction approval application, Muan County will review the details and decide on the approval within 15 days. Approved land must be used for the designated purpose for a period of 2 to 5 years.
Parties wishing to transact land within the approval zone must submit a permit application along with a financing plan and other relevant documents to Muan County after reaching a prior agreement. Once approved, they can proceed with drafting the contract.
If an application for approval is denied, the applicant can file an objection within one month from the date of notification, which will then undergo a review process by the urban planning review committee before a final decision is communicated.
Muan County has announced the designation of the land transaction approval zone and is making related land records and topographical maps available for public viewing.
The viewing period runs from August 26 to September 18, and residents can check the relevant materials at the Muan County Office's Civil Affairs and Land Division, as well as at all local town and township offices and the Namak and Oryong branch offices.
Lee Seung-myung, head of the Civil Affairs and Land Division, stated, “This measure aims to prevent speculative land transactions that exploit expectations surrounding the establishment of the national industrial complex and to establish a healthy real estate transaction order centered on genuine demand. We urge residents wishing to transact land within the approval zone to verify the approval requirements and related procedures before finalizing contracts.”
* This article has been translated by AI.
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