Abstract
The Constitution adopts ‘just compensation‘ to protect owners of land relating expropriation for public use. A detailed standard is delegated to the Land Compensation Law. The standards that the Land Compensation Law adopt are ’justified price compensation’ and ‘exclusion of development gains’. The the Land Compensation Law prescribes that compensation for land be priced based on ‘the officially announced price of standard land’. ‘The officially announced price of standard land’ that should reflect market value by law, in practice is lower than market value. So compensation for land is actually priced based on markt value not ‘the officially announced price of standard land’. The difference between market value and ‘the officially announced price of standard land’ is revised by ‘other factor’. As a result the compensation for land that is priced by ‘the officially announced price of standard land’ is accord with ’justified price compensation’. But there is no legal basis for using ‘other factor’, and people misunderstands that compensation is priced only by ‘the officially announced price of standard land’, which is lower than market price. And to accomplish ‘exclusion of development gains’, it needs a detailed analysis about land value change the before and after announcement of the plan. But the Land Compensation Law consider only large scale project as target and regulate only the selection of ‘the officially announced price of standard land’ and land price index. So ‘exclusion of development gains’ is executed incompletely. It is desirable that legal compensation standard is substituted for sales comparables. Sales comparables standard is more accord with ’justified price compensation’ and effective means of ‘exclusion of development gains’.
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