Gyeonggi-do can actively promote urban development projects in the Suchon district of Pyeongtaek
Feb 12, 2025
The urban development project in the Suchon district of Pyeongtaek, which was in danger of being stranded due to the cancellation of the business license, has been able to be promoted normally.
The urban development project in the Suchon district of Pyeongtaek is a project to supply 3,927 homes and create urban infrastructure such as roads, parks, and elementary schools on 385,326 square meters near Chilwon-dong, Pyeongtaek.
Although it has been promoted since 2017, it was on the verge of canceling the business license as regulations on farmland laws were found at a time when it was difficult to raise funds due to the real estate recession.
According to the Farmland Act, in order for a general corporation to own farmland, it is necessary to complete the farmland conversion consultation. Company A, which was originally a project implementer, acquired the incorporated farmland in the Suchon district after the completion of the consultation, but it closed in 2014. The problem is that Company B, the current project operator, took over the farmland in 2016 and pushed for the project, but the effect of the farmland conversion was cut off due to the closure of Company A and the change in the business method. The issue was whether the Gyeonggi provincial government could hold a new farmland conversation without requiring it to dispose of it.
Gyeonggi Province reviewed the possibility of consultations on farmland conversion at the level of active administration in consideration of its willingness to promote the project. In the process, it was found that the issue of farmland ownership was related to regulations such as the obligation to dispose of farmland and that the interpretation of the authority of the Ministry of Legislation was not stipulated. After that, he applied for pre-consultation by the Board of Audit and Inspection in November last year after legal advice from the Ministry of Agriculture, Food and Rural Affairs and provincial counsel lawyers. As a result, I recently received a response from the Board of Audit and Inspection, citing the opinion of Gyeonggi-do that farmland conversations can be held again without disposal of farmland. The Board of Audit and Inspection said it considered that the process of acquiring farmland was legal, that there was no intention of speculation purposes, and that there was no practical benefit from the cancellation of the project.
As a result, the business can continue without re-acquisition after revocation of the business license and disposal of the farmland, allowing business operators to reduce costs and time, including taxes.
The urban development project in the Suchon district of Pyeongtaek is expected to be completed in 2029, with a project cost of about 2.5 trillion won and about 12,000 new jobs expected to be created. Local residents are expected to expand employment opportunities and revitalize the local economy, which is suffering from the economic downturn.
The urban development project in the Suchon district of Pyeongtaek is a project to supply 3,927 homes and create urban infrastructure such as roads, parks, and elementary schools on 385,326 square meters near Chilwon-dong, Pyeongtaek.
Although it has been promoted since 2017, it was on the verge of canceling the business license as regulations on farmland laws were found at a time when it was difficult to raise funds due to the real estate recession.
According to the Farmland Act, in order for a general corporation to own farmland, it is necessary to complete the farmland conversion consultation. Company A, which was originally a project implementer, acquired the incorporated farmland in the Suchon district after the completion of the consultation, but it closed in 2014. The problem is that Company B, the current project operator, took over the farmland in 2016 and pushed for the project, but the effect of the farmland conversion was cut off due to the closure of Company A and the change in the business method. The issue was whether the Gyeonggi provincial government could hold a new farmland conversation without requiring it to dispose of it.
Gyeonggi Province reviewed the possibility of consultations on farmland conversion at the level of active administration in consideration of its willingness to promote the project. In the process, it was found that the issue of farmland ownership was related to regulations such as the obligation to dispose of farmland and that the interpretation of the authority of the Ministry of Legislation was not stipulated. After that, he applied for pre-consultation by the Board of Audit and Inspection in November last year after legal advice from the Ministry of Agriculture, Food and Rural Affairs and provincial counsel lawyers. As a result, I recently received a response from the Board of Audit and Inspection, citing the opinion of Gyeonggi-do that farmland conversations can be held again without disposal of farmland. The Board of Audit and Inspection said it considered that the process of acquiring farmland was legal, that there was no intention of speculation purposes, and that there was no practical benefit from the cancellation of the project.
As a result, the business can continue without re-acquisition after revocation of the business license and disposal of the farmland, allowing business operators to reduce costs and time, including taxes.
The urban development project in the Suchon district of Pyeongtaek is expected to be completed in 2029, with a project cost of about 2.5 trillion won and about 12,000 new jobs expected to be created. Local residents are expected to expand employment opportunities and revitalize the local economy, which is suffering from the economic downturn.
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This article was translated by Naver AI translator.
