Even though there is controversy about effectiveness of the present government in 2018, still general direction of policy is ‘income-driven growth’. Indeed, through redistribution of income, income could be increased, consumption also increases to...
Even though there is controversy about effectiveness of the present government in 2018, still general direction of policy is ‘income-driven growth’. Indeed, through redistribution of income, income could be increased, consumption also increases together, and production would be enlarged so that expanded and completed economic virtuous circle could last economic growth.
However, by contrast, it is true that the government still maintain demand regulation policy on the real estate market. If the demand regulation policy continues in real estate market which is considerably inelastic in aspects of demand and supply, it would be possible in the future to bring the bigger confusion due to supply shortage, and reasonable supply activation policy should be paralleled in the long run.
Therefore, this study supposes that a development business through land provision compensation system, which has a high possibility for landowners to share development profit and for existing residents to increase resettlement ratio, would be a rational supply activation policy, and this study is to research present conditions and improvements on the system.
The land provision compensation system has significantly lots of advantages but it could not be still activated. However, through case analysis of Hanam-Misa district, Songpa-Munjeong district, and Guri-Galmae district, which are successful cases in the past, this study reviewed ongoing difficulty of the land provision compensation system, and depending on this, this study is to provide improvements by providing specific political suggestions.