The purpose of the study is to find out what the evaluation criteria of land price are and to confirm whether they are used in land systems such as Land Usage Regulations, Land Leasing Regulations in North Korea. And we also want to find how they are applied in actual contract cases on the land use right of foreign-invested companies. It seems that North Korean authorities divide lands by grades with employing land evaluation criteria such as fertility, location and etc., and then set the prices of the lands by grades. The evaluation indicators to all land use but agricultural land are location and distance to infrastructures. But it is difficult to confirm the pricing process after grading lands. This study attempted to grasp the pricing process through land lease regulations or land use lease cases. According to the Rason’s Land Leasing Regulation, the commercial rent is a reference point to all kinds of land. So based on it, the prices of lands for other uses vary depending on location. Policy factors also appear to have a significant impact on the rent. The implications of this study are as follows: First, North Korea’s land evaluation system seems to be in operation, and as the number of transactions increases, the system seems to be developing. Second, if the price evaluation cases of land in North Korea accumulate, it might be possible to adopt the system of land evaluation similar to that of South Korea.
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