Feb 24 • 03:09 UTC 🇰🇷 Korea Hankyoreh (KR)

President Yoon: 'Farm land prices are abnormal...we need to consider ways to lower them'

President Yoon has emphasized the need to address the abnormal prices of agricultural land to facilitate rural living and counter urban concentration.

On October 24, President Yoon held a cabinet meeting where he discussed the pressing issue of agricultural land prices, characterizing them as 'abnormal' and detrimental to efforts aimed at reducing urban concentration in the capital region. He underscored that addressing real estate prices is a fundamental solution, but it's equally crucial to evaluate agricultural land matters. High land prices hinder rural resettlement, making farming unviable for many who wish to return to the countryside.

President Yoon pointed out that many farmlands remain abandoned, and the effective use of land is not being realized, thereby exacerbating the concentration of population and resources in the metropolitan area. He proposed a thorough reassessment of the agricultural land system, suggesting that policies across tax, regulation, and finance should work to instill a sense that holding land for speculative investment is pointless. Furthermore, he emphasized the need for research into methods to minimize the costs associated with resettling in rural areas, including potential strategies for reducing land prices.

Additionally, during the meeting, the Minister of the Interior and Safety, Yoon Ho-jung, reported that current welfare support in rural areas is linked to actual agricultural activities, creating a hesitation among elderly farmers to relinquish their land. President Yoon acknowledged this concern, noting that the expectation of rising land prices leads to reluctance in land abandonment. There was a consensus that easing access to agricultural support without requiring farming activity could free up land for new farmers, thus facilitating rural rejuvenation and addressing the agrarian land crisis effectively.

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🇰🇷 Korea Feb 25 • 00:17 UTC

President Yoon: 'Is ordering the sale of farmland communist? Is Lee Seung-man, who established 'land for those who farm it' also a communist?','summary_en':'President Yoon emphasized that the order for farmland sales is a legal measure to combat speculative land transactions, dismissing critics who likened it to communist policies.','summary_long_en':'President Yoon Sook-yeol of South Korea has defended his administration’s directive to order the sale of farmland, clarifying that the measure is intended to prevent speculative transactions in agricultural land. During a recent cabinet meeting, he specified that the government is not targeting inherited farmland or land that is intentionally left unused due to the owner's age or other circumstances. Instead, he indicated that the focus is on instances where individuals acquire farmland under the guise of farming plans but fail to utilize the land for agricultural purposes thereafter. Yoon reiterated the constitutional principle of

Hankyoreh (KR)