The area around the Gwangju military airport site, chosen by Samsung Electronics (005930.KS) and SK hynix (000660.KS) as the site for the "Honam Semiconductor Cluster," has been designated a land transaction permit zone.
The Jeonnam-Gwangju Integrated Special City said on the 9th that the Ministry of Land, Infrastructure and Transport (MOLIT) designated and announced on the 9th that 224 neighborhoods across eight cities, districts and counties near the Gwangju military airport site (totaling 364.19 square kilometers) as a land transaction permit zone under Article 10 of the Act on Report on Real Estate Transactions.
The designation was made to block speculative land transactions driven by development expectations, following the government's decision to build a Honam-region semiconductor cluster on the Gwangju military airport site.
The designation period runs for two years, from the 14th to July 13, 2028. The designated area covers neighborhoods within a 10-kilometer radius centered on the Gwangju military airport site.
The scope of the designation was set to maximize its effect and ensure the megaproject proceeds without disruption, taking into account changes in land demand, the potential for rising land prices, administrative boundaries and living zones.
In a land transaction permit zone, anyone seeking to trade land above a certain size must obtain prior approval from the mayor, district head or county head, and must use the land for the approved purpose for a certain period after the transaction. The designation is intended to encourage land transactions centered on genuine demand, and actual users can trade after obtaining a land transaction permit.
"The megaproject is a core national strategic project that will drive the Republic of Korea's future growth engine, so we will thoroughly block speculative demand, establish a sound real estate transaction order, and actively support the project so that it can proceed without disruption," said Min Hyung-bae, mayor of the Jeonnam-Gwangju Integrated Special City.
