공용수용의 정당보상에 관한 경제학적 연구 -공시지가 기준 보상액 산정과 기타요인 보정을 중심으로- = A Economic Analysis of Just Compensation of Eminent Domain: Calculation of Compensation Based on Officially Announced Land Price and Revision Based on Other

다국어 초록 (Multilingual Abstract)

Eminent Domain is condemnor`s compulsory purchase of private land. Most of countries concerned about abuse of eminent domain have provided for public purpose and just compensation as conditions for compulsory purchase in their constitutions. The problem is that absence of a market related to take land leads to disputes resulting from actual compensation that is divorced from just compensation. In particular, various measurement errors are made in actual compensation valuations in spite of the general principle that states that compensation should be calculated based on fair market value. At the center of these disputes in korea are the calculation of compensation based on officially announced land price and revision based on other factors. Both of which, in fact, arise from the officially announced land price being undervalued than the market value and from regionally differing gaps between the two values. Through a comparative analysis of compensation prices and officially announced land prices, this study finds the national average of revision rate attributed to other factors to be approximately 194 percent. Further, though limited, it could be confirmed through a comparative study between compensation prices and sales prices that compensation prices are valued at just above market values. There is still no concurring opinion among scholars on the standard basis for market-efficient compensation level that allows for market values. However, considering the fact that the essence of condemnation is compulsory purchase of private land, the main opinion seems to be that compensation value should be higher than market value. It seems that Korea`s compensation valuation is in line with this opinion also. Matters that need to be solved yet and require further policy efforts are revisions arising from officially announced land prices that remain at lower levels than market values and overcoming regional divergencies.

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