Possible Sites for Capital Relocation to be Revealed Today

Possible Sites for Capital Relocation to be Revealed Today. June. 14, 2004 22:51. by Kwang-Hyun Kim kkh@donga.com.

The Presidential Committee on Administrative Capital Relocation, led by Professor Kim An-jae of Seoul National University, is expected to release a shortened list of possible four candidates for the relocation of the administrative capital on June 15.

The committee announced on June 14, that it is “scheduled to hold the third meeting at 2 p.m. on June 15 at the Main Conference Room of the Central Government Complex to confirm a list of sites for the relocation of the capital.”

Along with the list of probable sites for relocation, the committee is also planning to disclose the list of appraisers to evaluate the sites listed and a set of preventive measures against real estate speculation.

The committee will begin to compare and evaluate possible sites from undisclosed locations starting around June 21, and reveal the ratings of those sites by the beginning of July at the earliest.

The rating process will be followed shortly by relevant procedures such as public hearings to take the public opinion into account, and make an official announcement about the selected location in mid-August.

As for speculation preventive measures, it is expected that the committee will include designating all of the listed sites and the areas within 10 km from the center point of the proposed sites as “special provisional districts for land transactions” just as the list of possible new locations for the administrative capital is released.

At special provisional districts, the maximum size of land allowed for land transactions, which were set at different levels from 1,000 m² to 2,000 m² according to land usage, will be drastically reduced to 200 m².