The Idea of separating a development right from landownership has attracted interest from policy-makers and academics in Korea. In addition, the emphasis on sustainable land use requires a new land policy which makes up for the limitation of zoning as...
The Idea of separating a development right from landownership has attracted interest from policy-makers and academics in Korea. In addition, the emphasis on sustainable land use requires a new land policy which makes up for the limitation of zoning as land use regulation. This interest raises questions about the applicability of the idea within the Korean context. This study is aimed at reviewing the American Transferable Developement Rights(TDRs) in terms of sustainable land use, and suggesting policy implications through schematic simulations. Schematic simulations are attempted to show a clear conceptual framework of the TDRs. The results provide some policy implications. Firstly, the TDRs should be applied to exceptional circumstances which cannot solved by other policy measures. Secondly, the policy should be applied with first priority to the case which is necessary to preserve historic buildings and cultural assets. Thirdly, the TDRs should be applied to undeveloped areas rather than developed areas. Fourthly, in-depth analyses and verifications of the TDRs' marketability will be needed. Fifthly, the central government should provide legal provisions and policy guidelines for local governments. Finally, the TDRs should designed properly in consideration of institutional capacity in contemporary Korean societies. This study concludes that the introduction of the TDR is a second-best strategy for 'living together' in a limited space in a fragmented Korean society. These efforts is not be easy, but it is key to solving conflictual spatial problems in the future.