| 요약2 |
The government has proposed a plan to adopt a new approach to public land development which would reduce land price instability in surrounding areas of public land development arising from cash-oriented land compensation systems. Up to date, two types of land development have been used. One is the compulsory purchase by the eminent domain and the other is the land substitution by land readjustment project. The land substitution method contributes to the protection of land owner’s right and reduces additional land flows in surrounding areas while it requires longer development time and does not ensure qualified development. On the other hand, public land development by compulsory purchase helps provide promptly enough land but increase in land price in the surrounding areas. In order to reduce these social costs arising from land development, it is urgent to figure out mixed land development methods for improving land development skills. This research was able to suggest that public land development by the land provision compensation rather than the cash or bond compensation can increase the living compensation for the current residents, enjoy development benefits by income level, and minimize land liquidity by the large-scaled development. From the empirical study, we found out that the suggested approach can reduce 34% land compensation costs and the effect could be larger when the land provision compensation system is in effect. However, some conflicts between land owners and developers or agencies are expected. In the further research it is necessary to carry out how to mitigate those aspects for the new land development approach. |