Land Share in Korean Redevelopment: How Entitlement Value Is Actually Calculated
Korean redevelopment law does not distribute floor area in proportion to the land a member already owns. It converts each asset into a monetary value and then combines that value with the financial balance of the project as a whole. Practitioners call the result the entitlement value. This design follows from the reality of an improvement zone. Land parcels and buildings within a single zone differ in area, shape, road frontage and structural condition, so a common monetary unit is required before they can be compared. Table of Contents Why Land Share Alone Cannot Decide the Outcome Requirements and Structure of the Prior-Asset Appraisal What the Seoul Data Shows The Core Mechanism of Entitlement Value and the Proportional Rate How It Differs From a Land-Share-Only Judgement Limitations of the Entitlement Value Structure Frequently Asked Questions Summary 1. Why Land Share Alone Cannot Decide the Outcome Land share, the proportion of the site attributed to an indi...