On April 22, 2026, the Daedeok-gu district office in Daejeon, South Korea, convened its annual Real Estate Price Deliberation Committee to review the proposed individual land price announcements for the year. The meeting focused on verifying the accuracy and fairness of land valuations across 39,928 individual land parcels within the district, using data current as of January 1, 2026.
According to official statements from the Daedeok-gu government, the committee’s deliberations resulted in a proposed 2.1% year-on-year increase in individual land prices, with the average land value across the district calculated at 304,000 South Korean won per square meter. This figure is slated for final confirmation and public announcement on April 30, 2026, following the conclusion of the review process.
The individual land price announcement system in South Korea serves as a foundational benchmark for calculating various national and local taxes, including property acquisition taxes, registration taxes and comprehensive real estate holding taxes. It also influences compensation calculations for public infrastructure projects and is referenced in private real estate transactions.
To ensure objectivity, the committee conducted a multi-layered review process. Officials emphasized that land characteristic surveys were used to validate the selection of standard reference plots, while cross-regional price balance was assessed to prevent significant disparities between neighboring areas. The prices proposed by licensed real estate appraisers underwent independent verification for reasonableness before being presented to the committee.
Particular attention was given to site-specific factors such as current land use, environmental conditions, road access, and proximity to public amenities. These elements were integrated into the valuation models to reflect realistic market conditions rather than relying solely on comparative or formula-based approaches.
Following the committee’s review, the proposed individual land prices will be officially published on April 30, 2026. From that date through May 29, 2026, landowners and interested parties may file formal objections if they believe the assessed value of their property is inaccurate or unjust.
Objections must be submitted in writing to the Daedeok-gu Land Information Division, accompanied by supporting documentation such as recent appraisal reports, comparable sales data, or evidence of unique land characteristics not reflected in the initial assessment. All submitted objections will undergo a re-evaluation process, which may include site visits and additional expert review, before a final determination is made.
The finalized land prices, incorporating any adjustments from successful objections, will become the official basis for taxation and administrative purposes starting in the second half of 2026. This annual cycle ensures that public fiscal policies remain aligned with evolving land market conditions while providing a transparent mechanism for public participation.
Local officials urged residents to monitor the official announcement and utilize the objection period if needed, stressing that the individual land price directly affects household tax burdens and equity in public cost distribution. They noted that while the 2.1% increase reflects broader market trends, the ultimate goal of the process is not to maximize revenue but to ensure that valuations are accurate, defensible, and equitable across all land types and locations within the district.
As the April 30 announcement date approaches, the Daedeok-gu government has encouraged citizens to access the official land price portal once the data is published, where individual parcel values can be searched by address or land registration number. No further changes to the valuation methodology were announced for this year’s cycle.
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