투기억제를 위한 효율적 토지정책 개선방안에 관한 연구

토지투기 억제를 위한 토지정책의 개선방안을 연구했다.

Land is fundamental and indispensable element in our life and it is known as production goods, consumer goods and property. Unlike other consumer goods, land is limited to the territory of the country and it is imperishable. Therefore it is more like public goods but land is becoming more like property provided that there is increase in land price as urbanization and industralization are seeing rapid progress and there is shortage of useable land. Land cannot expand or move and it is limited in area, separated and asymmetrical, which makes its market information closed and it is difficult to predict the changes in land price.

In addition to the basic characteristics of land, due to limited land area, rapid increase in the land demand followed by fast urbanization and industralization, inflexible supply and monopolization of the few, people in Korea have high expectations of property increase using land. Sudden rise of land price erodes investment funds, and due to excessive burdens of land cost, it serves as an obstacle for the companies to move to the overseas and foreign companies to move into Korea; it is one of the factors lowering the growth potentials of the country.

Furthermore, the sudden rise of land price resulted rise of housing prices and it makes more difficult for people to hold houses; it worsens the gap between the rich and the poor and the gap between those living in different regions which causes instable society. In this study, we will discuss the characteristics of land and land market, which are the main factor for the increase in land price and we will look for suggestions in land system of overseas countries. We will also find problems in the process of changes in the former government's system and individual regulations and look for the solutions.

This study aimed at finding out ways to effectively restrict speculative land transactions in association with changing factors in the society and policy. Because land is both public and speculative transaction goods for increasing properties, the government is intervening in the land market with various polities in order to prevent sudden rise in land prices and to smoothen the supply. Based on the City Plan Act legislated in 1962 and Integrated Plans of Land Construction Act in 1963, modern land policy has taken in place in Korea.

Then, number of individual laws associated with land use have been legislated and revised and land policies such as Stabilization Measures for Land Market have been adopted to stop the sudden rise of land prices. The government has been trying to stop the rise of land price by adopting policies for the supply, holding controls, transaction controls and various land-related taxation but they have only been concentrating on alleviating the rise of land price and restricting speculative transactions rather than putting up fundamental measures and they failed to implement consistent policies.

Roh government announced the revision plan of the 4th Integrated Land Plans and promoted projects of Multi-functional Administrative City, Enterprise city and Innovation City. They have promoted new town construction projects around Seoul to stop the sudden rise of housing price in the metropolitan area but it only caused rise of land price all around the country.

In order to stop speculative transaction, they implemented Integrated Real Estate Tax, Designation of speculative transaction Area, Expansion of Land Transaction Areas, Increase in Transfer Income Tax of Absentee Landlord, Real Estate 'Real transaction cost' Reporting System, Real Transaction Cost Taxation System, Development Expense Share System and etc but the transactions were blocked and the land prices were only increased because the increased tax was added up to the selling price. Economic slump took place due to global financial crisis and Lee government alleviated various land use regulations including cancellation of Land Transaction Area and Development-restricted Area.

They also cancelled Heavy Transfer Income Tax of Absentee Landlord to revitalize land transactions; the government is now implementing regulation alleviating policies that had been used by the former governments in economic slump periods. Policies not based on the fundamental characteristics of land but external variables called economic status can always bring about another speculative transactions. As economic structure changes and laws restricting all kinds of possessions ended up a mere scrap of paper, it is not exerting any political effects. Inefficiency of taxation polities hindering market principles has already been proven by the policies of the former government.

The policies controlling transactions has exerted some effects to prevent the rise of land prices but due to the pressure of development, the land price has risen and a distorted market structure without transactions has been formed. Except the fall of land price due to external variable called IMF crisis and the recent global economic crisis, as it can be seen in the example of the early 1990s when the land price dropped down due to market principles, effective land polices for controlling speculative transaction are short-term restrictions on demand and policies for increasing long-term supply which comply with the market principles.

In order to stop speculative transaction, supply of land has to be increased and when promoting a large-scale development, the area and tits outskirts have to be designated first before making any announcements. Real estate ownership tax has to be increased and transaction tax has to be reduced. What we need is consistent and proactive policy preventing the rise of land prices. 토지는 인간생활에 필수 불가결한 기본재이며, 경제적 관점에서는 생산재, 소비재, 그리고 자산으로서 인식되고 있다. 토지는 타 소비재와 다르게 국가의 영토로 한정되고, 영속적이기 때문에 공공재 성격이 강하지만 도시화와 산업화가 급속히 진행되면서 가용용지의 부족으로 인해 지가상승을 전제한 자산으로서의 토지의 비중이 더욱 커지고 있다. 그리고 토지는 부증성, 부동성, 국지성, 개별성, 비대칭성을 가지고 있어 시장정보가 폐쇄적이고, 지가변동의 예측이 곤란한 특성을 가지고 있다. 토지의 기본 특성에 더해 우리나라는 협소한 국토와 토지면적의