(1) An applicant whose application for permission under Article 11 (1) has been declined may file an application for purchase of the right over the relevant land with the head of a Si/Gun/Gu within one month from the date when he or she has been notified of such decline.
(2) The head of a Si/Gun/Gu in receipt of an application for purchase under paragraph (1) shall designate an entity to purchase from among the State, local governments, the Korea Land and Housing Corporation, and other public institutions or organizations prescribed by Presidential Decree, and shall require the entity to purchase the relevant land within budgetary limits on the basis of the publicly-announced land prices; provided, if the price stated in an application form for permission for a land transaction contract is lower than the publicly-announced land prices, it may be purchased at the price entered in the application form for permission.