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Regulatory takings and evasion of compensation requirement through overlapping regulations

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  • Regulatory takings and evasion of compensation requirement through overlapping regulations
  • Korea Development Institute
  • Korea Development Institute


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Title Regulatory takings and evasion of compensation requirement through overlapping regulations
Similar Titles
Material Type Video
Author(English)

Korea Development Institute

Publisher

[Sejong] : Korea Development Institute

Date 2016-08
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < General
Government and Law < Internal Conflict
Government and Law < Laws and Legislation
Holding Korea Development Institute
License

Abstract

There have been no clear guidelines for state limitations on private property rights and related compensation in Korea. For this reason, the decisions also have been made primarily based on administrative discretion. This study examines the infringement of property rights as a result of restrictions and the criteria for compensation. Additionally, overlapping regulations aimed at evading the responsibility of providing compensation are identified and suggestions to improve the existing system are presented. An analysis was conducted on the impact of the designation and revocation of development restriction zones on land prices, focusing on regions that have had the restriction lifted in the early 2000s. The results show that designation and revocation considerably affect land prices. The price of designation-revoked land surged by more than 360-660% compared to that of neighboring designated land while rising by a mere 46-94% compared to that of neighboring non-designated land.