A Study on Value Capture Using the Data of Subway Line#3 and Line#4 in Seoul.

서울시 지하철 3, 4호선 건설에 따른 개발리익 산정에 관한 연구

The management of subway business in large cities has recently become more difficult because of increased construction and operation costs. To cope with this situation, it is necessary to examine the methods of obtaining returns on development profits of land value rises that occur due to subway construction along subway lines, For this purpose, we examined the actual situation of rises in land values brought about by the construction of subway line #3 and line #4 in Seoul with application of three methods. In this research, we have calculated a basis of the development profits produced by the construction of subway line. According to the results, development profits produced by the subway construction differ depending on the method adopted. If, however, we accept line comparison analysis method, the total development profits amount to 557,3 billion won that is equivalent to 37 percent construction cost.