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Selected Statutes of the Republic of Korea |
제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
Act No. 9439, Feb. 6, 2009
CHAPTER Ⅰ GENERAL PROVISIONS
Article 1 (Purpose)
The purposes of this Act is to contribute to the smooth supply of sites for public works and the stabilization of the land market by prescribing necessary matters regarding the reservation and supply of public land.
Article 2 (Definitions)
The definitions of terms used in this Act shall be as follows:
1. The term “public land” means any land that falls within any of the following items:
(a) Land required for public works provided for in Article 4 of the Act
on the Acquisition of Land, etc. for Public Works and the
Compensation therefor;
(b) Land used for adjusting supply and demand of land to stabilize
the land market;
(c) Land reclaimed or planned to be reclaimed pursuant to subparagraph
3 of Article 2 of the Public Waters Reclamation Act;
(d) Land belonging to the state property provided for in Article 3 of the State Property Act or the public property provided for
in Article
4 of the Public Property and Commodity Management Act, which
is managed by the Korea Land Corporation under the Korea Land
Corporation Act (hereinafter referred to as the “Korea Land
Corporation”) upon entrustment by the State or a local government
pursuant to related Acts and subordinate statutes;
(e) Land held by the Korea Land Corporation transferred to a land bank account pursuant to Article 9 to serve public purposes,
such
as long-term lease, supply at low-price;
(f) Other land recognized by the Committee for Deliberation on Public
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Land Reservation pursuant to Article 7;
2. The term “reservation” means the acquisition and management of public land under this Act;
3. The term “land bank” means any land bank account established in the Korea Land Corporation pursuant to Article 9 (1)
to reserve and
supply public land;
4. The term “land banking” means any business carried on by the Korea
Land Corporation through the management of the land bank, set forth in any subparagraph of Article 11;
5. The term “land to be reserved” means any public land to be acquired by the Korea Land Corporation through land banking;
6. The term “reserved land” means any public land acquired and managed
by the Korea Land Corporation through land banking;
7. The term “acquisition” means the purchase, expropriation, trust, exchange, or transfer to a land bank account of any
land to be reserved;
8. The term “management” means the upkeep or preservation of any reserved land or any acts increasing the value of such
land;
9. The term “supply” means the offering of any reserved land to persons
entitled thereto by means of lease, sale, exchange, transfer, etc.
Article 3 (Prohibition of Use of Similar Name)
All people, other than the Korea Land Corporation, shall be prohibited from using the name of land bank or any other similar name.
CHAPTER Ⅱ PLAN FOR RESERVATION OF PUBLIC LAND
Article 4 (Comprehensive Plan for Reservation of Public Land)
(1) The Minister of Land, Transport and Maritime Affairs shall establish and implement a comprehensive plan for the reservation of
public land (hereinafter referred to as “comprehensive plan”) every ten years for the
smooth supply of sites for public works and the stabilization of the land
market.
(2) The Minister of Land, Transport and Maritime Affairs shall establish the comprehensive plan in consideration of the following
matters:
1. Comprehensive national land plan provided for in Article 6 of the
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
Framework Act on the National Land;
2. State financial management plan provided for in Article 7 of the National
Finance Act;
3. Comprehensive housing plan provided for in Article 7 of the Housing
Act;
4. Plan for industrial site supply provided for in Article 5-2 of the Industrial
Sites and Development Act;
5. Other plans prescribed for by Presidential Decree.
(3) The Minister of Land, Transport and Maritime Affairs shall develop
a comprehensive plan which includes the following matters on the basis of the results of the survey on supply and demand of land conducted
pursuant
to Article 6 and establish it subject to deliberation by the Committee for
Deliberation on Public Land Reservation provided for in Article 7:
1. Basic direction and objective of the reservation and utilization of public land;
2. Appraisal of the preceding comprehensive plan;
3. Mid- and long-term prospects of supply and demand of land and the land market;
4. Optimum scale for public land reservation;
5. Raising and direction of management of such funds as may be necessary to reserve and supply land;
6. Study of policies regarding the reservation of land;
7. Matters relating to the building and management of a land reservation information system;
8. Other matters prescribed by Presidential Decree.
(4) The provisions of paragraph (3) shall apply mutatismutandisto any
alteration in the comprehensive plan. In such cases, the survey of supply
and demand of land referred to in Article 6 shall not be required to be conducted.
(5) When a comprehensive plan is established pursuant to paragraph (3)
or altered pursuant to paragraph (4), the Minister of Land, Transport and Maritime Affairs shall, without delay, submit it to the
National Assembly
and then send it to the head of the competent central administrative agency,
the Special Metropolitan City Mayor, Metropolitan City Mayor, Dogovernor
or the governor of the Special Self-Governing Province (hereinafter referred
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to as the “Mayor/Dogovernor”) concerned, and the president of the Korea
Land Corporation.
Article 5 (Implementation Plans for Reservation of Public Land)
(1) The Minister of Land, Transport and Maritime Affairs shall establish and implement an annual implementation plan for the reservation
of public land (hereinafter referred to as “implementation plan”) each year according
to the comprehensive plan.
(2) The Minister of Land, Transport and Maritime Affairs shall establish each implementation plan in consideration of the following
matters:
1. Plan for the management of budget and funds for the relevant year;
2. Matters referred to in subparagraphs of Article 4 (2).
(3) The Minister of Land, Transport and Maritime Affairs shall include the following matters in establishing the implementation
plan:
1. Appraisal of the preceding implementation plan;
2. Direction of supply and demand of land and the stabilization of the land market for the relevant year;
3. Conditions and prospects of the reservation and supply of land for the relevant year;
4. Objective of the reservation of public land for the relevant year (including
the standards for calculation of the scale of reservation of public land);
5. Matters relating to the standards for selection of land to be reserved and the standards for supply of reserved land;
6. Land to be reserved and the reserved land to be supplied in the relevant year;
7. Plan for the raising and management of such funds as may be necessary
to reserve and supply land;
8. Study of policies regarding the reservation of land;
9. Matters relating to the building and management of a land reservation
information system;
10. Such other matters as are deemed by the Committee for Deliberation on Public Land Reservation pursuant to Article 7 to be
necessary.
(4) The head of the competent central administrative agency, the Mayor/Do
governor concerned or the person who performs any public project pursuant to Article 4 of the Act on the Acquisition of Land, etc.
for Public Works
and the Compensation therefor (hereinafter referred to as “public project
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
operator”) may submit to the Minister of Land, Transport and Maritime
Affairs an application for the reservation and supply of such land, if any, as may be necessary to perform any business affairs and
projects under
his/her jurisdiction, as prescribed by Presidential Decree.
(5) The Minister of Land, Transport and Maritime Affairs shall develop an annual implementation plan, by not later than the end of
February
of each year, based on the application under paragraph (4) and the results of survey of supply and demand of land under Article 6,
and establish
it subject to deliberation by the Committee for Deliberation on Public Land
Reservation provided for in Article 7.
(6) The provisions of paragraphs (4) and (5) shall apply mutatismutandis
to any alteration in the implementation plan.
(7) When a implementation plan is established pursuant to paragraph
(5) or altered pursuant to paragraph (6), the Minister of Land, Transport and Maritime Affairs shall, without delay, submit it to
the National Assembly
and then send it to the head of the competent central administrative agency, the Mayor/Do governor concerned, the public project operator, and the president of the Korea Land Corporation: Provided, That when an alteration
is made to any minor matters, it need not be submitted to the National
Assembly.
Article 6 (Survey on Supply and Demand of Land)
(1) The Minister of Land, Transport and Maritime Affairs shall conduct a survey on the supply and demand of public land (hereinafter
referred to as “survey on supply and demand of land”), as prescribed by Presidential
Decree, to reasonably develop the comprehensive plan and the
implementation plan thereof.
(2) The Minister of Land, Transport and Maritime Affairs may, in conducting a survey on supply and demand of land, request the head
of the competent
central administrative agency, the Mayor/Do governor concerned, or the
public project operator to submit the following materials: Provided, That
the materials that may be requested from the public project operator shall
be limited to those referred to in subparagraph 2:
1. Materials regarding the current status of, and planning for policies and projects within his/her jurisdiction (including the computerized
database concerned);
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2. Materials regarding the matters requested to be included in the
comprehensive plan or the implementation plan thereof, such as the acquisition of the land to be reserved, the management and supply
of the reserved land (hereinafter referred to as “plan for reservation of land”);
3. Such other materials as prescribed by Presidential Decree.
(3) The head of the central administrative agency, Mayor/Do governor
or public project operator who is requested to submit materials pursuant to paragraph (2) shall comply therewith unless there is any
special reason
to the contrary.
(4) The Minister of Land, Transport and Maritime Affairs may entrust the survey on supply and demand of land to the Korea Land Corporation
to conduct such survey efficiently.
(5) The methods, procedures, etc. for conducting the survey on supply and demand of land and other necessary matters shall be prescribed
by
Presidential Decree.
CHAPTER Ⅲ COMMITTEE FOR DELIBERATION ON PUBLIC LAND RESERVATION AND LAND BANK
SECTION 1 COMMITTEE FOR DELIBERATION ON PUBLIC LAND RESERVATION
Article 7 (Establishment and Functions)
(1) The Committee for Deliberation on Public Land Reservation (hereinafter referred to as the “Land Reservation Committee”) shall
be established under
the jurisdiction of the Minister of Land, Transport and Maritime Affairs
to deliberate and resolve any important matters relating to the reservation and supply of public land.
(2) The Land Reservation Committee shall deliberate on and resolve the
following matters:
1. Basic direction of policies for reservation of land;
2. Plan for reservation of land;
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
3. Matters relating to the standards for selection of the land to be reserved
and the standards for the management and supply of reserved land;
4. Matters relating to land transferred to the land bank account pursuant
to Article 9 (1) among that which is held or being developed by the
Korea Land Corporation;
5. Matters relating to the budget and settlement of accounts of the land
bank;
6. Matters relating to land which belongs to the state property referred to in Article 3 of the State Property Act or the public property
referred
to in Article 4 of the Public Property and Commodity Management
Act and managed by the Korea Land Corporation upon entrustment by the State or local governments pursuant to related Acts
and
subordinate statutes (hereinafter referred to as “land managed upon entrustment”);
7. Matters relating to plans for the raising and management of such funds
necessary to reserve and supply land;
8. Matters relating to the ratio and scale of accumulation in the land bank reserve pursuant to Article 24 (1) 3-2 of the
Korea Land
Corporation Act;
9. Matters relating to the survey on supply and demand of land;
10. Matters relating to the building and management of land reservation
information systems;
11. Matters relating to the standards for redemption provided for in Article
23 (3);
12. Necessary matters relating to the operation of the Land Reservation
Committee;
13. Such other necessary matters recognized by the Chairperson of the
Land Reservation Committee.
Article 8 (Organization and Operation)
(1) The Land Reservation Committee shall be comprised of not more than
20 members, including one Chairperson.
(2) The Chairperson of the Committee shall be the Minister of Land, Transport and Maritime Affairs and the members thereof
shall be the
following persons:
1. Vice Minister of Strategy and Finance;
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2. Vice Minister of Public Administration and Security;
3. Vice Minister of Knowledge Economy;
4. Vice Minister for Food, Agriculture, Forestry and Fisheries;
5. Vice Minister of Environment;
6. Administrator of the Korea Forest Service;
7. President of the Korea Land Corporation;
8. Five or more private experts commissioned by the Minister of Land, Transport and Maritime Affairs, as prescribed by Presidential
Decree,
from among those who have much knowledge and experience in the
field of land.
(3) The terms of office of the members commissioned pursuant to paragraph
(2) 8 shall be three years, but they may be reappointed: Provided, That
the term of office of the member who is newly commissioned to fill a vacancy
arising from resignation, etc. shall be the remainer of the term of office of his/her predecessor.
(4) Notwithstanding the provisions of paragraphs (1) and (2), with respect to a matter related to any ministry or agency other than
those to which
the members belong, provided for in paragraph (2) in deliberating and
resolving the matters referred to in any subparagraph of Article 7 (2), the Vice Minister of the ministry or agency concerned may
act as a member
in deliberating upon the matter in question if the Land Reservation
Committee permits.
(5) Other necessary matters concerning the operation of the Land
Reservation Committee shall be prescribed by Presidential Decree.
SECTION 2 LAND BANK
Article 9 (Establishment and Management of Land Bank Account)
(1) A land bank account shall be established in the Korea Land Corporation separately from the Korea Land Corporation’s own account
to provide for
the reservation and supply of public land.
(2) The land bank account referred to in paragraph (1) shall be kept separate from the Korea Land Corporation’s accounting.
(3) Other necessary matters concerning the management of the land bank
account shall be prescribed by Presidential Decree.
Article 10 (Separate Reservation of Land to be Reserved)
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
The land to be reserved by the land bank shall be classified as follows:
1. Land required for public works provided for in Article 4 of the Act on the Acquisition of Land, etc. for Public Works and the
Compensation
therefor (hereinafter referred to as “land for public development”);
2. Land used for adjustment of supply and demand to stabilize the land market (hereinafter referred to as “land for adjustment
of supply and
demand”);
3. Land reclaimed or planned to be reclaimed pursuant to subparagraph
3 of Article 2 of the Public Waters Reclamation Act (hereinafter referred
to as “reclaimed land, etc.”);
4. Other land recognized by the Land Reservation Committee as necessary.
Article 11 (Land Banking)
The Korea Land Corporation shall perform the following land banking services:
1. Management and administration of the land bank account referred to in Article 9 (1);
2. Support for the establishment of a plan for reservation of land;
3. Establishment and application for approval of project plans for reservation of both the land for public development provided
for in
Article 14 (1) and the land for adjustment of supply and demand and the reclaimed land, etc. provided for in Article 18 (1) (hereinafter
referred to as “land, etc. for adjustment of supply and demand”);
4. Reservation of the land to be reserved and the management and supply of reserved land;
5. Research and analysis of the propriety of reservation of the land to
be reserved;
6. Survey on supply and demand of land;
7. Building and management of a land reservation information system;
8. Study and support necessary to establish policies for reservation of land;
9. Other matters necessary to implement the plan for reservation of land.
Article 12 (Raising, etc. of Funds for Land Banking)
(1) The funds required for land banking shall be raised in such a way as listed in any of the following subparagraphs:
1. Land bank reserve provided for in Article 24 (1) 3-2 of the Korea
Land Corporation Act, which is determined by the Land Reservation
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Committee pursuant to Article 7 (2) 8;
2. Funds raised through the issue of bonds pursuant to Article 11 of the Korea Land Corporation Act to perform land banking
services;
3. Funds raised through asset-backed securitization under the
Asset-Backed Securitization Act or otherwise by means of real estate financing prescribed by Presidential Decree;
4. Profits from the management or supply of reserved land;
5. Profits from the management of assets;
6. Other funds determined by the Land Reservation Committee to finance
the land bank.
(2) The financial resources of the land bank shall be managed for the following purposes:
1. Payment of expenses or repayment of loans required for land banking;
2. Payment of expenses recognized by the Land Reservation Committee as necessary to perform land banking services.
Article 13 (Reporting and Inspections)
(1) The president of the Korea Land Corporation shall report to the Minister of Land, Transport and Maritime Affairs on the present
state of land banking
and the raising and management of funds as prescribed by Presidential
Decree.
(2) The Minister of Land, Transport and Maritime Affairs may direct the
Korea Land Corporation to submit any documents or materials related
to the performance of land banking services and the raising and management of funds for land banking or have public officials under
his/her jurisdiction
inspect land banking services.
CHAPTER Ⅳ PROCEDURES FOR ACQUISITION OF PUBLIC LAND
SECTION 1 Acquisition of Land for Public
Development
Article 14 (Project Plan for Reservation of Land for Public Development, and Approval thereof)
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
(1) When the operator of a public project for the land for public development
obtains project approval provided for in Article 20 (1) of the Act on the
Acquisition of Land, etc. for Public Works and the Compensation therefor
(hereinafter referred to as “project approval”) or is deemed to obtain a project approval pursuant to any other Act, the Korea
Land Corporation
shall develop project plans for the reservation of land for public development,
including the following matters according to the implementation plan and obtain approval therefor from the Minister of Land, Transport
and Maritime
Affairs:
1. Type, period and area of the project using land for public development;
2. Particulars of land to be reserved;
3. Matters relating to the management and supply of land to be reserved;
4. Other matters relating to the reservation of land for public development, as prescribed by Presidential Decree.
(2) Any application for approval of project plans for the reservation of
land for public development referred to in paragraph (1) (hereinafter referred to as “project plan for the reservation of land
for public development”)
may be made by consolidating the contents of applications by type or zone
of project if necessary.
(3) Procedures and methods for applications for approval of project plans for the reservation of land for public development and
other necessary
matters shall be prescribed by Presidential Decree.
Article 15 (Publication of Approval for Project Plan for Reservation of
Land for Public Development)
(1) The Minister of Land, Transport and Maritime Affairs, when he/she grants approval for project plans for the reservation
of land for public
development, shall without delay notify the details thereof to the Korea
Land Corporation, the owner of such land (including any person holding any right, other than ownership, to the land), and the Mayor/Dogovernor
concerned and publish it in the Official Gazette.
(2) The Mayor/Do governor (excluding the Do governor of Jeju Special
Self-Governing Province) who is notified of approval for project plans for
the reservation of land for public development shall inform the relevant head of a Si/Gun/Gu (referring to any autonomous Gu) thereof.
(3) The approval for project plans for the reservation of land for public development shall take effect on the date of its
publication.
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Article 16 (Land Expropriation)
(1) The Korea Land Corporation, which obtains approval for a project plan for the reservation of land for public development,
may expropriate
(including using; hereinafter the same shall apply) any such land, thing
or right as provided for in Article 3 of the Act on the Acquisition of Land, etc. for Public Works and the Compensation therefor (hereinafter
referred
to as “land, etc.”) if necessary to acquire the land for public development.
(2) When approval for a project plan for the reservation of land for public development is published pursuant to Article 15, approval
of the project
concerned and the publication of project approval as provided for in Article
22 of the Act on the Acquisition of Land, etc. for Public Works and the
Compensation therefor shall be deemed to be granted and made, and the application for adjudication shall be filed during the
period of project
implementation set in the project plan for the reservation of land for public development in spite of the provisions of Articles 23
and 28 of the said
Act.
(3) The Land Expropriation Committee which has jurisdiction over adjudication on the expropriation of land, etc. shall be
the Central Land
Expropriation Committee.
(4) Except as specifically provided for in this Act, the Act on the Acquisition of Land, etc. for Public Works and the Compensation
therefor shall apply
mutatis mutandis with respect to the expropriation of land, etc.
Article 17 (Requests for Purchase of Land for Public Development)
(1) The owner of land for public development may request the Korea Land
Corporation to purchase such land if the indemnity plan for the land has yet to be published pursuant to Article 15 of the Act on
the Acquisition
of Land, etc. for Public Works and the Compensation therefor. In such cases, the Korea Land Corporation shall purchase such land
after making
the public announcement of purchase plan with prior approval for such
plan from the Minister of Land, Transport and Maritime Affairs.
(2) The public announcement of purchase plan referred to in paragraph
(1) shall contain the following matters:
1. Matters relating to the land to be purchased;
2. Standards and methods for calculation of the purchase price;
3. Period during which such purchase is to be made;
4. Other matters prescribed by Presidential Decree.
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
(3) When an indemnity plan for the land purchased and reserved pursuant
to paragraph (1) is publicly announced by the public project operator concerned pursuant to Article 15 of the Act on the Acquisition
of Land,
etc. for Public Works and the Compensation therefor, the Korea Land
Corporation shall, without delay, supply such land to the public project operator concerned.
(4) In cases where the Korea Land Corporation supplies the reserved land to the public project operator pursuant to paragraph (3),
the procedures,
price, methods, etc. of such supply shall be prescribed by Presidential
Decree.
SECTION 2 Acquisition of Land, etc. for Adjustment of Supply and Demand
Article 18 (Project Plan for Reservation of Land, etc. for Adjustment of
Supply and Demand, and Approval thereof)
(1) The Korea Land Corporation shall develop a project plan for the reservation of land, etc. for the adjustment of supply
and demand, including
the following matters according to the implementation plan in order to promote the reservation of such land, etc., and obtain approval
therefor
from the Minister of Land, Transport and Maritime Affairs:
1. Matters relating to the reservation and supply of land for the adjustment of supply and demand;
2. Matters relating to the reservation and supply of reclaimed land, etc.;
3. Matters relating to the land managed upon entrustment;
4. Such other matters as prescribed by Presidential Decree.
(2) Approval of project plans for the reservation of land, etc. for the
adjustment of supply and demand referred to in paragraph (1) (hereinafter referred to as “project plan for the reservation of land,
etc. for the adjustment
of supply and demand”) may be granted by consolidating the contents of
such projects by purpose or use of reservation if necessary.
(3) Procedures and methods of application for approval of project plans for the reservation of land, etc. for the adjustment of supply
and demand
and other necessary matters shall be prescribed by Presidential Decree.
Article 19 (Public Announcement of Purchase Plans)
(1) The Korea Land Corporation, when seeking to purchase land for the
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adjustment of supply and demand according to project plans for the
reservation of land, etc. for the adjustment of supply and demand, shall publicly announce the plan for purchase, including the matters
provided
for in subparagraphs of Article 17 (2).
(2) Necessary matters concerning the procedures and methods for the public announcement of the purchase plan under paragraph (1) shall
be prescribed
by Presidential Decree.
Article 20 (Advance Sales)
(1) When any application for permission for a land transaction contract is filed pursuant to Article 118 (1) of the National Land
Planning and Utilization Act, the head of a Si/Gun/Gu (referring to any autonomous Gu) concerned may allow the Korea Land Corporation to preferentially purchase the land through consultation if such Corporation
wishes.
(2) The provisions of Article 122 (2) through (4) of the National Land Planning and Utilization Act shall apply mutatismutandis with respect to the procedures, price, etc. of the advance sale referred to in paragraph (1).
CHAPTER Ⅴ MANAGEMENT AND SUPPLY OF RESERVED LAND
Article 21 (Management of Reserved Land)
(1) The Korea Land Corporation may take the following measures if necessary to manage reserved land:
1. Application for land alteration under Chapter Ⅲ of the Cadastral Act;
2. Development of any site that may be necessary to maintain and preserve the reserved land or increase the value thereof;
3. Other measures necessary to preserve or increase the value in use
of such land.
(2) In cases of the land for public development, the Korea Land Corporation shall hear the opinions of the head of the central administrative
agency,
Mayor/Do governor or public project operator concerned who has made
an application for the reservation and supply of such land, before taking the measures provided for in paragraph (1).
Article 22 (Supply of Reserved Land)
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
(1) The Korea Land Corporation shall supply its reserved land in compliance
with the timing for supply and standards therefor set by the project plan for the reservation of land for public development or the
project plan for
the reservation of land, etc. for the adjustment of supply and demand:
Provided, That when it is necessary to alter the time of supply and standards
therefor due to any change in the situation of the land market, the
Corporation may supply the reserved land after obtaining approval from the Minister of Land, Transport and Maritime Affairs to alter
the project
plan for the reservation of land for public development or the project plan
for the reservation of land, etc. for the adjustment of supply and demand. (2) When the ownership of any reserved land is transferred
pursuant to
paragraph (1), matters concerning the redemption referred to in Article
23 (3) may be registered as prescribed by Presidential Decree.
(3) Procedures and methods for supply of reserved land, persons to whom such land is to be supplied, the supply price, use thereof,
and other matters
regarding the conditions of supply shall be prescribed by Presidential Decree.
Article 23 (Restriction on Resale, etc.)
(1) No person who obtains any land supplied through land banking may resell (including change of title, sale or other acts accompanied
by the
change of a right; hereinafter the same shall apply) or sublease it without the use thereof for the designated purposes: Provided, That the same shall
not apply in cases prescribed by Presidential Decree, including inheritance, etc.
(2) No contract concluded in violation of paragraph (1) shall take effect. In such cases, the Korea Land Corporation may recover
the land concerned
or terminate the contract for supply thereof.
(3) When land supplied through land banking is not used for the designated purpose within three years, the Korea Land Corporation
may reclaim the
land concerned pursuant to the standards for recovery set by the Land
Reservation Committee. In such case, expenses incurred in the restitution of the land to be redeemed shall be borne by the person
who fails to use
the supplied land for the designated purpose.
(4) In cases of redemption provided for in paragraphs (2) and (3), the price thereof shall be based on the price of the land concerned
calculated
at the time of supply thereof, but the detailed standards for calculation
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of the redemption price shall be prescribed by Presidential Decree.
Article 24 (Consent to Use)
The Korea Land Corporation shall allow any person to whom reserved land is supplied to use such land on condition that the
price thereof is paid: Provided, That when the Land Reservation Committee deems it necessary to establish social infrastructures, etc. early, the advance use
thereof may be allowed even before the price is paid.
CHAPTER Ⅵ SUPPLEMENTARY PROVISIONS
Article 25 (Special Cases concerning Reservation of Land Transferred to
Account)
(1) The Korea Land Corporation may transfer to the land bank account provided for in Article 9 (1) any land, among that held by
it, the reservation of which is recognized by the Land Reservation Committee as necessary
to serve public purposes, such as long-term lease or supply at low-price,
subject to approval by the Minister of Land, Transport and Maritime Affairs. (2) The Minister of Land, Transport and Maritime Affairs
may separately
set the methods and conditions of supply of reserved land as prescribed
by Presidential Decree so that the land transferred to the land bank account pursuant to paragraph (1) may be supplied at a low price,
notwithstanding
the provisions of related Acts and subordinate statutes, such as the Housing
Site Development Promotion Act and the Industrial Sites and Development
Act.
Article 26 (Acquisition of Farmland)
(1) The Korea Land Corporation may acquire any farmland as prescribed by the Farmland Act if necessary to carry on land banking.
(2) The Korea Land Corporation shall lease any such farmland acquired pursuant to paragraph (1) with or without compensation as prescribed
by the Farmland Act by not later than the date of farmland conversion provided for in subparagraph 7 of Article 2 of the Farmland
Act.
Article 27 (Special Cases concerning Purchase of Reclaimed Land, etc.) (1) The Korea Land Corporation which carries on land banking may preferentially purchase any reclaimed land, etc. in which reclamation works of public waters are completed or are in progress pursuant to the provisions
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제31편 국토개발․토지․도로․수자원 공공토지의 비축에 관한 법률
of related Acts and subordinate statutes and the reservation of which is
recognized by the Land Reservation Committee as necessary for any reason determined by Presidential Decree, subject to approval by
the Minister
of Land, Transport and Maritime Affairs, notwithstanding the provisions of such related Acts and subordinate statutes.
(2) Standards, procedures and methods for the preferential purchase of
reclaimed land, etc. under paragraph (1) shall be prescribed by Presidential
Decree.
Article 28 (Measures for Stabilization of Real Estate Prices)
(1) The Minister of Land, Transport and Maritime Affairs may take the following measures, pursuant to related Acts, against any area
in which speculative transaction of real estate is prevalent or the price of land rises
or is likely to rise rapidly due to the reservation of public land or request
the head of the competent central administrative agency or the Mayor/Do
governor concerned to take such measures:
1. Designation of such designated area provided for in Article 104-2 (1)
of the Income Tax Act;
2. Designation of such an overheated speculation district provided for in Article 41 of the Housing Act;
3. Designation of such an area subject to the permission of land transaction contract as provided for in Article 117 of the National
Land Planning
and Utilization Act.
(2) The head of the competent central administrative agency or the Mayor/Do
governor concerned who is, pursuant to paragraph (1), requested by the
Minister of Land, Transport and Maritime Affairs to take any such measure
provided for in each subparagraph of the said paragraph may take necessary steps immediately.
Article 29 (Requests, etc. for Provision of Materials)
(1) The Korea Land Corporation may request the State or local governments to issue such documents as may be necessary to perform
land banking as prescribed by Presidential Decree, and the State or local governments
so requested shall comply therewith unless there is any special reason
to the contrary.
(2) The State and local governments shall not impose fees for the issuance of documents under paragraph (1).
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CHAPTER Ⅶ PENAL PROVISIONS
Article 30 (Penal Provisions)
Any person who resells or subleases land without using it thereof for the designated purpose in violation of Article 23 (1) shall
be punished by imprisonment for not more than three years or by a fine not exceeding
one hundred million won.
Article 31 (Fines for Negligence)
(1) Any person who uses any similar name in violation of Article 3 shall be subject to a fine for negligence not exceeding
five million won.
(2) Fines for negligence provided for in paragraph (1) shall be imposed
and collected by the Minister of Land, Transport and Maritime Affairs as prescribed by Presidential Decree.
ADDENDA
(1) (Enforcement Date) This Act shall enter into force on the date of its promulgation.
(2) (Special Cases concerning Period within which Initial Implementation
Plan to be Established) Notwithstanding the provisions of Article 5 (5), the Minister of Land, Transport and Maritime Affairs
shall establish and
implement an implementation plan after conducting a survey on supply and
demand of land within six months from the date when this Act enters into force. In such cases, the implementation plan initially established
need not
follow the comprehensive plan, notwithstanding the provisions of Article
5 (1).
(3) Omitted.
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