Land Compensation Act in Korea

1 Introduction 9
1.1 Purpose 11
1.2 Research Scope and Methods 12

2 Overview of Korea’s Land Compensation Act 15
2.1 Protection of property rights and the obligation to exercise such rights in the public
welfare 17
2.2 Public projects and compensation for loss 19
2.3 Publicly Announced Land Value as reference for calculation of compensation 19
2.4 Expanded scope of compensation 21

3 Contents of Act on Acquisition of And Compensation For Land, ETC. For Public Works Projects 23
3.1 Structure of the Act 25
3.1.1 Outline 25
3.2 Contents of Chapters 29
3.2.1 General Provisions and Preparations of Public Works 29
3.2.2 Acquisition or Use Through Consultation (before project approval) 31
3.2.3 Acquisition or Use by Expropriation 33
3.2.4 Land Tribunal 40
3.2.5 Compensation for Losses 41
3.2.6 Filing Objections 55
3.2.7 Repurchase Rights 57

4 What needs to be done to improve the Land Compensation Act? 61
4.1 Re-defining the scope of a public project 63
4.2 Setting limits on private taking 65
4.3 Exclusion and offset of development gains 66
4.4 Expanded compensation under the Korea-U.S. FTA 66
5 Conclusion 69
References 73