SUWON — Gyeonggi Province Governor Choo Mi-ae said on the 19th that the province has been telling the central government that zones designated to curb speculation should be lifted quickly once their policy effects have been assessed.
Choo made the remarks at a parliamentary audit of Gyeonggi Province held by the National Assembly's Land, Infrastructure and Transport Committee at Yulgok Hall in the provincial government building that afternoon, responding to questions from People Power Party lawmakers Kim Eun-hye and Chung Hee-yong.
"Unless long-term management is needed, as in the development of new towns, our position is that designations aimed at curbing speculative demand should be lifted swiftly after their effects are reviewed," she said.
"Designating land transaction permit zones has a certain effect in blocking speculative demand," she added. "But it is hard to say it works to the point of bringing down home prices that have already risen."
Choo also said the province has been conveying its views to the government. "It is difficult to disclose the specifics, but Gyeonggi Province is relaying its opinions to the government both formally and informally," she said. "We continue to monitor market conditions and transaction trends and report on them."
Fifteen areas in Gyeonggi Province are currently designated as land transaction permit zones. Twelve of them are designated through the end of this year: the cities of Gwacheon, Gwangmyeong, Uiwang and Hanam; the Bundang, Sujeong and Jungwon districts of Seongnam; the Yeongtong, Jangan and Paldal districts of Suwon; the Dongan district of Anyang; and the Suji district of Yongin. The remaining three — the Giheung district of Yongin, the Dongtan district of Hwaseong, and the city of Guri — remain designated through the end of next year.