Can illegal building demolition occur?

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I'm a shareholder of a KOSDAQ-listed company who watched the company's growth as a loyal shareholder for a long time... I suddenly received notice of business closure from the CEO. Simple closure wouldn't matter, but because of the closure, the stock price hit rock bottom and my seed money became worthless... But I found out the CEO embezzled, so I need to gather evidence and want to proceed with an accounting fraud lawsuit using that evidence.

illegal building demolition

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作者: 고병준

Hello. I will explain about illegal building demolition.

To put the conclusion first, unfortunately, demolition may occur.

If you newly built a building that violates the Building Act without receiving permission or approval under the Building Act, you may receive corrective measures under Article 79, Paragraph 1 of the Building Act.

The detailed contents of corrective measures are ordering the construction owner to suspend construction or, by setting a period, ordering demolition, reconstruction, extension, repair, change of use, prohibition of use, restriction of use, and other necessary measures.

If you do not comply with such corrective orders, the permitting authority such as the mayor or county head may also request that the relevant building's business or other actions cannot receive licenses, permits, registrations, etc.

In addition, in urban areas, construction owners and construction contractors who violated the Building Act regarding building permits, building-to-land ratio, floor area ratio, etc. may be punished with imprisonment of up to 3 years or a fine of up to 500 million won.

As such, criminal liability may also follow regarding illegal building demolition, so caution is needed.

Therefore, if you have problems related to illegal building demolition, we recommend seeking advice and help from an attorney with expertise in the real estate field.