Government crackdown on farmland speculation disrupts longstanding leases, sparks rural exemption demands. Korea’s Constitution and Farmland Act stipulate the principle of “耕者有田” (those who farm own the land). Lending farmland to others is permitted only under specific legal conditions. Violators may face orders to dispose of the land, and those who ignore such orders must pay 25% of the land’s value annually as a coercive fine. The issue lies in the gap between law and rural reality. In farming communities, elderly landowners or heirs who cannot farm often entrust neighbors with their land. The nationwide survey has now disrupted longstanding leasing practices unrelated to speculation.
2. How is this related to the sub
(1) Real estate speculation: The backlash against anti-speculation survey on farmland is growing as it touches upon land-leasing practices.
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1. Summary
Government crackdown on farmland speculation disrupts longstanding leases, sparks rural exemption demands. Korea’s Constitution and Farmland Act stipulate the principle of “耕者有田” (those who farm own the land). Lending farmland to others is permitted only under specific legal conditions. Violators may face orders to dispose of the land, and those who ignore such orders must pay 25% of the land’s value annually as a coercive fine. The issue lies in the gap between law and rural reality. In farming communities, elderly landowners or heirs who cannot farm often entrust neighbors with their land. The nationwide survey has now disrupted longstanding leasing practices unrelated to speculation.
2. How is this related to the sub
(1) Real estate speculation: The backlash against anti-speculation survey on farmland is growing as it touches upon land-leasing practices.