공시지가제도의 사회적 자본화를 위한 정책 제언 = Policy Suggestion on Social Capitalization of Official Land Price

다국어 초록 (Multilingual Abstract)

It has been over 20 years since the official land price was introduced in 1989 as a public concept of land ownership and has recently been going through a transition period. So far, the official land price system has been evaluated as achieving stabilization of land prices and efficient execution of public services; the system has extended to encompass official housing prices. As of October 2012, the official land price is directly applied to a total of 121 laws and regulations, including 40 laws, 64 decrees and 17 regulations, and is being utilized. In addition, it has established itself as the standard for real estatetransactions and social capital. However, as the appraisal market environment changes, the functions and research methods of official land price system have been carefully discussed. Therefore, this research will examine the functions and economic effects of official land price system and suggest policies surrounding the related issues with its social capitalization from a legal expert standpoint. Although there is room for improvement in the official land price system, it has to be operated in a conservative fashion in principle. As large part of public concept of land ownership has weakened or even eliminated, some argue that the official land price system has to be completely reevaluated; however, the system is not an appendix of public concept of land ownership. The basic improvement strategies of the system has to focus on boosting the value of information on land prices and characteristics, rather than just reducing the costs. In addition, the system is now at its turning point, considering the changes in the appraisal market, spurred by the re-establishment of economic and social systems. Now the government and the appraisal industry need to clearly understand that the 2008 financial crisis has produced different economic and social phenomena than before, and prepare responsive measures for 10 or 20 years ahead. Therefore, the government should refrain from dealing with official land price improvement with shortsighted policies. If the government actively responds to the new economic and social trends and changes after the financial crisis, the official land price system will maintain its functions and roles as a standard for optimal decision-making of corporations, households, local governments and the country as a whole faced with reexamination of real estate operation. In the process, the government should promote the official land price system by pursuing its compatibility with social and economic systems and suitability, rather than just focusing on compliance with appraisal theories and its effectiveness for a budget reduction. The appraisal industry should also strive to improve its specialities, incorporate the latest technologies, and collaborate with researchers in academia.