• Journal of the Korean Regional Science Association
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• v.40 no.2
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• pp.39-55
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• 2024

This study attempted to derive a plan for sustainable operate by identifying the status and operation condition of the community facilities of the Youth Jochiwon Project through case studies and interviews. Examining at the status and operation condition, 13 facilities are scheduled to be built in Jochiwon by 2025, but many facilities have not yet been prepared for specific operation plans. Second, the possibility of sustainable operation is positively evaluated based on creating jobs and profits through connection with other facilities and the introduction of paid system. Third, administrative support is being provided in various aspects, but there was a regret due to the limitation of the budget. It is expected that the function of health/welfare and leisure/culture can be strengthened for sustainable operation, support in term of administrative support is needed, and support and management function can be strengthened by utilizing the urban registration support center.

• Journal of Korea Society of Industrial Information Systems
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• v.29 no.2
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• pp.119-131
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• 2024

In recent years, there has been a significant growth in loan comparson services offered by fintech platforms in South Korea. However, it has been reported that loan comparison platform users tend to have a higher risk of default compared to non-users. This paper investigates the difference in platform-specific credit risk factors using survival analysis models - Kaplan-Meier curves and Accelerated Failure Time (AFT) model. Our findings show that, relative to non-users, users of loan comparison platforms are characterized by elevated default rates, a greater propensity for home ownership, lower credit scores, and shorter loan durations. Furthermore, our AFT models elucidate the variance in default risk among the various loan comparison service platforms, highlighting the imperative for customized strategies that address the unique risk profiles of customers on each platform.

• Land and Housing Review
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• v.15 no.1
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• pp.135-146
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• 2024

This study predicts the means sharing ratio of the urban air transportation (UAM) when the VertiHub of the UAM in the southern western part is built at Songjeong Station in Gwanju. Based on Monte Carlo simulation of the utility function and means selection logit model for each means of transportation, our findings indicate an average mode share of 0.95%, with a variability range from 0.07% to 4.7%. Moreover, 95% of the simulation outcomes fall below a 2.02% mode share. Sensitivity analysis, conducted via Tornado Plot, highlights that the mode share is principally influenced by factors such as the unit fare, cost parameter, basic fare, and the time required for takeoff and landing. Notably, a negative correlation exists for unit fare, basic fare, and takeoff and landing time, suggesting the necessity of setting an appropriate level of fair to enhance UAM utilization.

• Land and Housing Review
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• v.15 no.1
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• pp.99-115
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• 2024

This study aims to investigate Marseille's Euromméditerranée project and provide policy implications for revitalizing domestic urban regeneration projects. First, we identify Euroméditerranée as a pivotal urban regeneration effort, executed by EPAEM-an organization fostering governance-driven project advancement through collaboration and investment from both central and local governments. This endeavor has significantly contributed to revitalizing Marseille, enriching the quality of life for its residents. Second, this urban regeneration project has the following notable features: consolidated approach with combination of full redevelopment and rehabilitation, integrated regeneration covering hardware-like physical regeneration and software-like economic, cultural, and environmental regeneration; government-type urban regeneration project structure. Finally, we suggest that policymakers should consider the economic scale in urban regeneration projects, national-level government organizations, and efficient public-private partnerships.

• Journal of Environmental Science International
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• v.33 no.3
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• pp.193-203
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• 2024

This study aims to determine the factors affecting the level of satisfaction with the Cell Broadcast Service (CBS) among citizens in Incheon. Partial least squares (PLS) regression, instead of multiple regression, was used for the analysis because it can solve multicollinearity and sample size issues. The analysis results are as follows: The factor with the greatest effect on satisfaction with CBS among Incheon citizens, was the elimination of redundancies (VIP=1.185). Therefore, local governments, government agencies, and public organizations must coordinate their ideas and collectively create guidelines to eliminate redundancies. The second most influential factor was the expansion in the broadcast medium from legal, institutional, and policy aspects (VIP=1.087). This is because differences in generation, age, gender, and personal characteristics were not considered. Therefore, it is necessary to devise a customized messaging tool through the expansion of broadcast media. The broadcast criteria of the legal, institutional, and policy perspectives comprised the third most influential factor, with a high VIP value of 1.053. Consequently, it is essential to devise a plan to avoid distributing unnecessary cell broadcast services, by establishing criteria for areas and sections, time, and the direct and indirect impact zones of a disaster. In the future, this study could be used as base data to develop policies, guidelines, and response measures for Incheon CBS. Given the lack of research on the diverse characteristics of each social class and the city traits of each region, and a lack of concrete empirical research on each factor, continuous and in-depth studies are required in the future.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.66-79
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• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.

• Environmental and Resource Economics Review
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• v.27 no.1
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• pp.105-138
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• 2018

This paper reports novel empirical results of a choice experiment that elicited the economic values that residents in the Seoul metropolitan area place on the amenity services realized from the landscape views and accessibilities to urban green spaces (i.e., mountains, rivers and urban parks). The 1,000 respondents in the sample were divided into two residential of housing types (apartments vs. houses) and occupancy types (owners vs. tenants). Residents living in apartments are willing to pay an average of 28% (5.0 million KRW per year) above the current housing prices per household for a mountain view, compared to an apartment view from their living room. Their willingness to pay values are about 22% (4.0 million KRW per year) and 10% (1.8 million KRW per year) respectively for a river view and a urban park view. Economic benefits of having access (i.e., a 10 minutes working distance) to mountains, rivers and urban parks are estimated to be an average of 16% (2.9 million KRW per year), 20% (3.6 million KRW per year) and 18% (3.2 million KRW per year), respectively, above the current housing prices per household. On the other hand, access benefits for those residing in houses are 18% (4.7 million KRW per year), 16% (4.1 million KRW per year) and 22% (5.6 million KRW per year) per household, respectively. They are also willing to pay an average of 35% (8.9 million KRW per year) above the current housing prices for keeping or having a garden or vegetation bed. Furthermore, a strong "greenspace premium" is centered around the three Gangnam districts for house-dwellers, whereas it is areas of "new real estate boom" for apartment dwellers.

• Land and Housing Review
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• v.13 no.4
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• pp.55-71
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• 2022

Recently, the domestic department store industry is growing into a complex shopping cultural space, which is advanced and differentiated by changes in consumption patterns. In addition, competition is intensifying across 70 places operated by five large companies. This study investigates the determinants of the visits to department stores using the big data concept's automatic vehicle access system (pos) and proposes how to strengthen the competitiveness of the department store industry. We use a negative binomial regression test to predict the frequency of visits to 67 branches, except for three branches whose annual sales were incomplete due to the new opening in 2021. The results show that the demand for visiting department stores is positively associated with airport, terminal, and train stations, land areas, parking lots, VIP lounge numbers, luxury store ratio, F&B store numbers, non-commercial areas, and hotels. We suggest four strategies to enhance the competitiveness of domestic department stores. First, department store consumers have a high preference for luxury brands. Therefore, department stores need to form their own overseas buyer teams to discover and attract new luxury brands and attract customers who have a high demand for luxury brands. In addition, to attract consumers with high purchasing power and loyalty, it is necessary to provide more differentiated products and services for VIP customers than before. Second, it is desirable to focus on transportation hub areas such as train stations, airports, and terminals in Gyeonggi and Incheon. Third, department stores should attract tenants who can satisfy customers, given that key tenants are an important component of advanced shopping centers for department stores. Finally, the department store, a top-end shopping center, should be developed as a space with differentiated shopping, culture, dining out, and leisure services, such as "The Hyundai", which opened in 2021, to ensure future growth potential.

• Land and Housing Review
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• v.14 no.2
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• pp.19-34
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• 2023

The proportion of single-person households has been steadily increasing, and the young account for the highest proportion at 35.9% among all single-person households. However, research on young single-person households has been relatively recent. Research on single-person households has mostly focused on all single-person households or elderly single-person households, and comparative research between different age groups is lacking. Therefore, this study categorizes all single-person households into young, middle-aged, and elderly groups to investigate the differences in the factors that affect their residential satisfaction and to analyze how these residential environment factors affect life satisfaction through the mediating effect of residential satisfaction. The 2020 Seoul Survey Urban Policy Index Survey data were analyzed using a structural equation model to investigate the impact of each factor. First, a finding is that various residential environment factors directly affect residential satisfaction and life satisfaction. Next, it was found that residential satisfaction directly affects life satisfaction in the models of young and middle-aged single-person households. Through this, it was confirmed that there are differences in residential environment factors that affect residential satisfaction and that residential satisfaction plays an important mediating role. Finally, it was found that the factors that affect the residential and life satisfaction of young single-person households are more diverse compared to other age groups. This study provides policy implications that age group differences should be considered first in order to improve the residential and life satisfaction of single-person households. In particular, for young single-person households, it is necessary to consider more diverse alternatives to improve their residential and life satisfaction.

• Korean Journal of Heritage: History & Science
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• v.56 no.3
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• pp.6-20
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• 2023

The World Heritage Subcommittee of the Cultural Heritage Administration which examine The World Heritage Subcommittee of the Cultural Heritage Administration which The World Heri The World Heritage Subcommittee of the Cultural Heritage Administration which examined the Placenta Chamber of King Sejong's Princes applied for the world heritage priority list in 2020 recommended expanding it to the royal placenta chambers of Joseon distributed nationwide for successive registration instead of registering the Seongju placenta chamber only. On account of that, the issue of selecting items has become one of the important topics to be discussed in the registration of world heritages. Accordingly, this researcher investigated the subjects of successive registration based on such conditions as excellent universal value, heritage protection and management, authenticity, and completeness among the real estate cultural properties demanded by the UNESCO World Heritage Committee. First, 22 placenta chambers, the real estate cultural properties designated as cultural properties and protected and managed by the state and local governments, are subject to it. Second, it seems that placenta chambers that can be restored through research and historical investigation and become designated as cultural properties can additionally be added. Third, items such as the Seosamneung Royal Tombs built by Lee Wang-jik in the Japanese colonial era or Seongjong Placenta Chamber relocated as an example to realize the completeness of Joseon's Royal Placenta Chambers can be included as well. Meanwhile, many of the items designated as cultural properties are not in the original location, and they can be divided into those that were relocated for the intentions of the Japanese Empire and those that were not. Therefore, the researcher insists that it is necessary to select and add items with which we can understand the historicity in the relocation of placenta chambers during the Japanese colonial era and also to quickly designate those that have not been designated as cultural properties yet. Therefore, regardless of designation as cultural heritage, local governments must promote both restoration and designation and strive to include them in the list of successive registration of world heritages grounded on thorough historical investigation. Moreover, to add them to the list of successive registration of world heritages, the Cultural Heritage Administration and local governments should promote continuous research and genuine restoration of individual placenta chambers.