Busan is good

Compensation Negotiations Begin for Land Acquisition in Gadeokdo New Airport Project

내용

Busan Metropolitan City (Mayor Park Heong-joon) announced that compensation negotiations for land* and properties to be acquired for the Gadeokdo New Airport Construction Project will begin on June 5.

* Land: 668 privately-owned parcels, totaling 379,000 square meters

From December 2023 to May 2024, the city conducted a five-month basic survey of land and properties located within the planned construction site of Gadeokdo New Airport.

• ●In June 2024, owners and stakeholders were given the opportunity to review and verify the survey records in advance to minimize omissions and prevent errors in the land/property reports.

In July 2024, the city released and announced a compensation plan detailing the contents of the land/property reports as well as the methods and procedures for compensation.

• ●From July 12 to 31, 2024, owners and stakeholders reviewed the compensation plan through public notices and received individual notifications. Any objections filed during that period were addressed through on-site inspections conducted in August 2024 in the presence of the property owners.

Following this, in accordance with the Act on the Acquisition of and Compensation for Land, etc. for Public Works Projects, three appraisal companies were selected. Appraisals were conducted from late September 2024 to April 2025 for land and related properties.

• ●To ensure fairness, one appraisal firm was designated by the project executor (Gadeokdo New Airport Construction Corporation), one recommended by the mayor, and one by the landowners. These three firms were jointly approved as the final appraisers.

• ●Over approximately seven months, the appraisal companies conducted joint on-site investigations with property owners present to ensure all compensable assets were accounted for and to protect the property rights of residents.

The appraisal process is now complete, and the compensation amounts have been determined. Individual notifications have been sent via mail to owners and stakeholders, and compensation negotiations will officially begin on June 5.

To facilitate smooth communication and active participation, three negotiation venues will be operated throughout the negotiation period:

• ●City Hall (New Airport Project Support Division)

• ●Gadeok-dong Community Service Center

• ●Gadeokdo New Airport Field Support Center (former Daehang Branch of Cheonga Elementary School)

• ●To minimize inconvenience and strengthen field communication, negotiation sites will be operated not only at City Hall but also within Gadeokdo. Compensation recipients will be able to receive guidance and participate in negotiations at these locations.

Mayor Park Heong-joon stated,

“To protect residents’ property rights, we will finalize compensation negotiations within this year in accordance with the relevant laws. This will help dispel concerns about delays caused by the recent suspension of contractor selection procedures. We are fully committed to ensuring that construction begins swiftly and the airport opens on schedule, establishing Gadeokdo New Airport as a global gateway for the southern region.”

---

Appendix

Overview of Compensation for Gadeokdo New Airport Project

Scope of Compensation

• ●Land: 668 parcels (379,074㎡)

• ●Structures: 11,397 items (including 450 buildings)

• ●Businesses: 90 cases

• ●Farming: 28 cases (33,543㎡)

• ●Housing: 378 households (including property owners and tenants)

Project Timeline

• ●June 29, 2023: Agreement signed for delegated compensation tasks (Ministry of Land ↔ Busan City ↔ Gyeongnam Province)

• ●Dec. 21, 2023: Commencement of basic land/property survey services

• ●Dec. 29, 2023: Announcement of the basic plan for Gadeokdo New Airport Construction

• ●May 30, 2024: Completion of basic land/property survey services

• ●July 12–31, 2024: Public notice and review period for compensation plan, receipt of objections

• ●Aug. 8–23, 2024: On-site review and amendments for filed objections

• ●July 18, 2024: Formation of the Compensation Council (14 members including Deputy Chief of Gangseo District Office)

• ●Sept. 23, 2024: First Compensation Council meeting (held at Gangseo District Office)

• ●Sept. 27, 2024: Request for appraisal (668 land parcels, 450 buildings, etc.)

• ●Oct. 2, 2024: Public briefing on compensation and appraisal (held at Daehang Village Hall)

• ●Apr. 15, 2025: Submission of appraisal reports (from appraisal firms to the city)

• ●May 22, 2025: Official announcement of project approval

Next Steps

• ●June–August 2025: Compensation negotiations