38% of Land Compensation Reinvested in Real Estate

Almost 40% of land compensation was reinvested in real estate last year.

On Friday, the Ministry of Construction and Transportation announced its survey on real estate transactions dating through late last year on the people who received land compensation in the first half of last year from 131 project districts of the Korea Land Corporation and the Korea National Housing Corporation.

According to the survey, among the 19,315 people who received compensation, 20.6% or 3,987 people purchased real estate. Approximately 37.8% (2.517 trillion won) of the total compensation (6.6508 trillion won) was traded. Of the 59,544 family members of those who received compensation, 3.8% or 2,287 people purchased real estate, and 735.5 billion won was traded. The list of 226 people who are suspected of tax evasion was reported to the National Tax Agency.

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