On April 30, Yongsan-gu in Seoul made an announcement on the 2025 individual publicly notified land prices for 43,236 plots in the district and will be accepting objections until May 29.
The increase in Yongsan-gu’s individual publicly notified land prices is 5.21%, which is 1.19 percentage points higher than the average of Seoul, which stands at 4.02%.
Individual publicly notified land prices are the price per unit area (㎡) calculated based on the standard publicly notified land prices set by the Ministry of Land, Infrastructure and Transport. These prices are determined by examining the characteristics of each land, comparing it with neighboring areas, and are confirmed after validation by appraisers.
The individual publicly notified land prices can be checked at the district’s real estate information department and Dong community centers. They are also available online through the Yongsan-gu Office website and the real estate price notification platform.
Landowners or interested parties who have objections to the published prices can submit an objection until May 29. Submissions can be made in person, by mail, fax, or online.
For lands where objections are raised, there will be a re-investigation into the appropriateness of the selected reference lands, the price balance with neighboring lands, and the necessity for adjustments. The final results will be confirmed after verification by appraisers and review by the district real estate price notification committee, and the applicants will be notified.
The district operates a “Field Explanation by Appraisers” program to reduce resident complaints. Through prior reservation, 1:1 consultations are available.
Hee-young Park, the head of Yongsan-gu Office, emphasized, “Since individual publicly notified land prices are used as a basis for calculating various taxes, health insurance premiums, and charges, landowners should definitely check the disclosed prices and actively apply within the period if there are any objections.”