MON: Legal and Regulatory Framework for Compensation Valuation in the Republic of Korea

Event: Country Safeguard Systems: East Asia

MON: Legal and Regulatory Framework for Compensation Valuation in the Republic of Korea

29 February 2012

ThisStudy, Legal and Regulatory Framework for Compensation Valuation in the Republic of Korea(Korea), presents the evolution of the legal, regulatory and institutional framework for compensationvaluation which has been developedin Korea over the past 50 years. It also reviews recent practice and experience of compensation valuation in the contextof Korea’s economic, social and political development as well as the country’s urban development. It then compares key compensation valuation provisions in Korea’s legal framework with the Involuntary Resettlement Safeguards Requirements of the Asian Development Bank’s (ADB) Safeguard Policy Statement(SPS). Based on Korea’s experience, it providesrecommendations to inform the development of a sustainable legislative, regulatory, and institutional framework for compensation valuation with an appropriate international standard in developing Asian countriesand identifieskey challenges to establish and implement such a system.

Geographical Focus:

Mongolia

Type of Content:

Learning Event

Disclaimer

The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.