Gyeonggi Urban Innovation Corporation will commence compensation consignment projects in earnest.

– Will assertively pursue the compensation consignment projects of the local autonomous governments by fully utilizing its know-how on land compensation –

The Gyeonggi Urban Innovation Corporation and the cities and municipalities of the Gyeonggi Province held field meetings of the vice-mayors of the cities and municipalities of the Province on March 37 in Gwangju, Gyeonggi Province to pursue full-scale discussions on the means of cooperation for the compensation works in earnest.

This meeting, led by the deputy director of the Administration Division 1, was held at the Hyanglimwon in Gonjiam, Gwangju City with participation of 31 vice-mayors of the cities and municipalities of the Province. Shin, Seok Chul, the Executive Director of the Gyeonggi Urban Innovation Corporation, introduced the abundant experiences and manpower of the Corporation in making compensations and requested the cities and municipalities to consign their compensation works at the time of pursuit of their policy projects.

The compensation consignment project refers to the business in which the project operator consigns the compensation works to an organization specializing in compensation designated in accordance with the Article 43 of the Implementation Act of the “Law on acquisition and compensation for the land to be used for public-interest projects” (“Land Compensation Law” in short), which will execute the said compensation works on behalf of the project operator. The Gyeonggi Urban Innovation Corporation was designated as a compensation specialist organization in 2012. The Corporation had more than 60 specialist manpower in the area of compensation with the experience of having executed compensations for total land area of 49.708 million m², valued at approximately 13.4 trillion Won.

The Corporation, since its designation as a compensation specialist organization, has been holding compensation workshop by inviting the personnel in charge of compensation works within the Province to share the know-how it has accumulated. Professional lectures by inviting experts in compensation and discussions of the mutual experiences are executed through holding of the workshop, thereby winning high level of affirmative responses from the participants