Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.
Gimpo Airport restricts property rights
By Lee Hyo-sik
Residents near Gimpo International Airport, west of Seoul, are staging a full-fledged campaign to restore their property rights and urge the government to do more to reduce aircraft noise.
They claim that they have not been able to properly exercise their property rights since the airport opened its door 50 years ago, pushing the government to raise the ceiling on the height of buildings and ease other restrictions on real estate development in the area.
Residents also say they should be appropriately compensated for their suffering due to the constant airplane noise during the past five decades.
However, government officials say that placing a cap on the height of buildings in the areas surrounding the airport and other restrictions are in accordance with international standards, stressing such regulations are essential to ensure flight safety.
Residents of the Gangseo District in western Seoul have launched an ad-hoc committee to pressure the government to allow them to construct buildings higher than legally allowed, arguing their property rights have been severely restricted for many years because of the airport.
Currently, no building can be higher than 57 meters within a 4-kilometer radius of the airport.
The committee sent protest letters to President Lee Myung-bak. But there has been no response from the presidential office, committee chairman Park Chang-soon said, noting that it has initiated a campaign to collect signatures from over 300,000 people for their cause.
“The nation has greatly benefited from Gimpo International Airport since its opening, except for those living in nearby areas. Nearly 98 percent of Gangseo District is subject to a range of development restrictions. The district office estimates that residents have suffered from a combined 53 trillion won in financial losses over the past 50 years because of the airport,” he said.
Park also said the government should offer residents financial compensation for their discomfort caused by the aircraft noise. “We want the government to take additional measures to make our neighborhood a better place to live. If it does not, we will continue to collect signatures and send them to the President and the minister of land, transport and maritime affairs.” The committee is also joining hands with groups of residents near Gimhae, Jeju, Daegu and other airports across the country.
Gangseo District Office is also siding with residents, saying it will do everything it can to help improve their property rights and the residential environment.
“In cooperation with Yangcheon District Office and Bucheon City, we will soon ask a research institute to study whether or not government restrictions on the height of buildings near the airport is excessive. If found unreasonable, we will send the results to the government and ask for the regulation to be eased,” said an official at Gangseo District’s public relations office.
The Ministry of Land, Transport and Maritime Affairs flatly dismissed the claims of the Gangseo residents saying the current development regulations will continue to remain as they are.
“Governments around the world impose the same rules on areas surrounding airports to ensure flight safety. Our regulations are no different from theirs,” a ministry official said.
Another official said the government has been doing everything it can to reduce airplane noise and improve the residential environments near the airports nationwide. “We enacted a special legislation on Oct. 23 to help residents suffering from airplane noise. But the problem is that no matter whatever we do, those living near the airports will always be disgruntled.”