Seoul, South Korea – South Korean President Lee Jae-myung has issued a strong directive to tackle agricultural land speculation and reinforce the constitutional principle of “Kyungja-yujeon” – the right of those who cultivate the land to own it. The call to action, delivered during the 6th cabinet meeting on February 24, 2026, signals a potential shift in the government’s approach to land management and rural development. The President’s remarks reach amid growing concerns about rising land prices hindering agricultural opportunities and exacerbating rural decline.
President Lee emphasized that the root of many of South Korea’s problems lies in real estate speculation, extending beyond urban centers to encompass agricultural land. He specifically highlighted the issue of non-farmers acquiring land for investment purposes, driving up prices and making it increasingly difficult for aspiring farmers to enter the profession. According to the President, even land in remote mountainous areas is becoming prohibitively expensive, with prices reaching 200,000 to 300,000 won per pyeong (approximately $150-$225 USD per square meter) in some cases. Yonhap News Agency reported on these concerns, detailing the President’s address.
Addressing Constitutional Principles and Land Management Failures
The President’s directive centers on the constitutional principle of “Kyungja-yujeon,” enshrined in Article 121 of the South Korean Constitution. This principle prioritizes the rights of farmers to own the land they cultivate. Lee argued that current land management practices are failing to uphold this principle, with loopholes allowing for widespread speculation. He questioned the effectiveness of existing regulations that theoretically allow for the forced sale of land from those not actively farming, noting that such measures are rarely enforced. IMBC News reported that the President challenged the cabinet to explain why this mechanism isn’t being utilized.
“The constitution states ‘Kyungja-yujeon,’ but the laws are being manipulated to circumvent it,” President Lee reportedly stated during the meeting. “We need to normalize this situation.” He further instructed officials to conduct a comprehensive survey of fallow or abandoned agricultural land to identify instances of speculative holding and potential violations of the “Kyungja-yujeon” principle.
Expanding the Scope of Anti-Speculation Measures
This move represents an expansion of the government’s efforts to curb real estate speculation, which have previously focused primarily on urban housing markets. The President’s comments suggest a broadening of the government’s definition of “speculation” to include agricultural land, signaling a more aggressive approach to land management across the country. This follows earlier initiatives aimed at stabilizing the housing market, which have seen limited success in addressing affordability concerns. The focus on agricultural land is particularly noteworthy given the ongoing challenges facing South Korea’s rural communities, including an aging population and declining agricultural workforce.
The government’s intention, as articulated by President Lee, is to lower land prices to build farming more accessible, particularly for young people seeking to enter the agricultural sector. He acknowledged the difficulties faced by those attempting to start farms due to high land costs, emphasizing the need to reduce financial barriers to entry. This aligns with broader government goals of revitalizing rural areas and ensuring food security.
Legal Framework and Potential Enforcement Actions
The legal basis for the President’s directive lies in both the Constitution and the Agricultural Land Act (농지법). Article 6 of the Agricultural Land Act stipulates restrictions on non-agricultural land ownership, aiming to prioritize those actively engaged in farming. The Korea Times reported that the government is too considering the implementation of stricter enforcement measures, including the potential for forced sales of land held by speculators who are not actively farming. The President specifically requested a review of existing regulations and a plan for more robust enforcement of the “Kyungja-yujeon” principle.
The government is also expected to examine the management of agricultural land more broadly, addressing concerns about inefficiencies and a lack of oversight. President Lee criticized the current system as “too chaotic,” suggesting a need for improved monitoring and regulation to prevent speculative practices. This could involve stricter regulations on land transactions, increased penalties for violations, and enhanced transparency in land ownership records.
The Role of the National Assembly
Although the President’s directive sets the policy direction, the implementation of any significant changes will require legislative action. The National Assembly will need to consider amendments to the Agricultural Land Act and other relevant legislation to strengthen enforcement mechanisms and address loopholes that allow for speculation. The timing and scope of any legislative changes remain uncertain, but the President’s strong stance suggests a high level of political commitment to addressing the issue.
the government recently passed an implementation decree supporting the “Yellow Envelope Law” (노란봉투법) which aims to strengthen worker protections, but the focus on agricultural land marks a distinct new direction in the administration’s policy agenda. The National Assembly also approved 35 bills and one law, along with 40 presidential decrees and four general agendas during the same meeting, demonstrating a busy legislative session.
Impact on Rural Communities and Agricultural Sector
The potential impact of these measures on rural communities and the agricultural sector is significant. Lowering land prices could make farming more accessible to young people and encourage greater investment in agriculture, potentially reversing the trend of rural decline. Even though, it could also face resistance from landowners who have acquired land for investment purposes. The success of the initiative will depend on the government’s ability to strike a balance between protecting the rights of landowners and promoting the interests of farmers.
The government’s focus on fallow land is also likely to have a significant impact. Encouraging the cultivation of abandoned land could increase agricultural production and contribute to food security. However, it will also require providing support to farmers to overcome the challenges associated with cultivating land that has been neglected for extended periods.
The President’s directive also comes at a time when South Korea is facing increasing pressure to address climate change and promote sustainable agriculture. Encouraging the cultivation of fallow land could contribute to carbon sequestration and biodiversity conservation, aligning with broader environmental goals.
Key Takeaways:
- President Lee Jae-myung has ordered a crackdown on agricultural land speculation.
- The initiative aims to uphold the constitutional principle of “Kyungja-yujeon” (the right of cultivators to own land).
- A comprehensive survey of fallow land will be conducted to identify speculative holdings.
- The government is considering stricter enforcement measures, including potential forced sales of land.
- Legislative action may be required to implement significant changes to land management regulations.
The next step in this process will be the release of detailed plans for the land survey and the proposed enforcement measures. The Ministry of Agriculture, Food and Rural Affairs is expected to announce these plans in the coming weeks. Readers are encouraged to share their thoughts and perspectives on this important issue in the comments section below.