The purposes of this Act is to contribute to the smooth supply of sites for public works and the stabilization of the land market by prescribing necessary matters regarding the reservation and supply of public land. The Minister of Land, Infrastructure and Transport shall establish and implement a comprehensive plan for the reservation of public land every 10 years for the smooth supply of public works and the stabilization of the land market. The Committee for Deliberation on Public Land Reservation "Land Reservation Committee", shall be established under the jurisdiction of the Minister of Land, Infrastructure and Transport for deliberation and resolution on any important matters relating to the reservation and supply of public land. When an operator of a public-interest land project for public development obtains approval for the project provided in Article 20 (1) of the Act on Acquisition of and Compensation for Land, the Korea Land and Housing Corporation shall develop project plans for the reservation of land for public development, including the according to the implementation plan and obtain approval from the Minister of Land, Infrastructure and Transport (article 14).
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An independent kingdom for much of its long history, Korea was occupied by Japan beginning in 1905 following the Russo-Japanese War. In 1910, Tokyo formally annexed the entire Peninsula. Korea regained its independence following Japan's surrender to the US in 1945. After World War II, a democratic-based government (Republic of Korea, ROK) was set up in the southern half of the Korean Peninsula while a communist-style government was installed in the north (Democratic People's Republic of Korea, DPRK).