Would the Indirect Expropriation Provisions of the Korea-US FTA Destroy the Korean Land Use System?
There have been on-going debates and concerns over whether the Korean land use system, which was built on a theory of strong social obligation on property rights, will be destroyed by the indirect expropriation clause under Chapter 11 of KORUS-FTA. Most of these concerns, however, are exaggerated, as they fail to recognize the international trends of indirect expropriation clauses and the similarities among U.S., international, and Korean laws. This article explores how the KORUS-FTA indirect expropriation clause will affect the Korean land use system. It demonstrates that, although Chapter 11 of KORUS-FTA presents the risk of encroaching upon national sovereignty, the FTA may actually force Korea to enhance its standards governing property rights and make the land use system more systematic and consistent with the Korean Constitution. To do this, the article summarizes the history of indirect expropriation principles in international law and U.S. regulatory takings laws, and describes
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