Unrestricted Land Sales in Green BeltRegulations on the sale of property within Green Belt areas will, possibly, no longer be in place or considerably weakened, the ruling National Congress for New Politics(NCNP) hinted on December 3.
Kim Won Kil, member of National Assembly said, 'The restrictions and regulations on the sale of real estate will be gradually eliminated since the government is trying to stimulate the recovery of the stagnate economy.'
Problems began when the government announced on November 25 that they would lift restrictions on development and land sales in green belt areas which sparked environmental protests as well as concerns over rampant land speculation. On the same day the Ministry of Construction and Transportation responded by stating that all land sales in green belt areas would require approval from the ministry. Apparently, even President Kim Dae Jung did not know about the ministry's action and stongly opposed its implementation.
The exact range of the system's dismantling, whether it would be totally dismissed or only partially, has not been settled yet.
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