• Journal of Venture Innovation
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• v.5 no.3
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• pp.71-80
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• 2022

The real estate market is an important part of a country's economy and plays a major role in economic growth through the growth of many related industries. Changes in interest rates affect asset prices and have a significant impact on housing prices. This study analyzed housing prices by dividing them into nationwide, local, and Seoul housing prices in order to analyze whether the effect of changes in interest rates on housing prices shows regional differences. The analysis was conducted from the first quarter of 2011 to the fourth quarter of 2021, and was analyzed using the DOLS model. The main analysis results are as follows. First, interest rates were found to have a significant negative effect on national housing prices, and a drop in interest rates significantly increased national housing prices and an increase in interest rates significantly lowered national housing prices. The consumer price index and loan growth rate also had a positive effect on housing prices nationwide, but statistical significance was not high. Second, interest rates had a negative effect on local housing prices, unlike national housing prices, but were not statistically significant. On the other hand, it was found that the consumer price index and loan growth rate had a larger and significant positive effect on local housing prices compared to national housing prices. Finally, it was found that the interest rate had the only significant negative effect on housing prices in Seoul. And this effect was greater and more significant than the effect on national and local housing prices. In the end, it was found that the effect of interest rates on Korean housing prices differs locally. Interest rates have a significant negative effect on national housing prices, and local housing prices, but they are not statistically significant. In addition, the interest rate was found to have the largest and most significant negative effect on housing prices in Seoul. In addition, it was found that there was a difference in the effect of macroeconomic variables on housing prices. This means that there are differences between regions with different factors influencing local and Seoul housing prices, and this point should be considered when drafting and implementing real estate policies.

• The Korean Journal of Air & Space Law and Policy
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• v.35 no.1
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• pp.63-101
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• 2020

'Flight safety zone' means a zone that the Minister of National Defense designates under Articles 4 and 6 of the Protection of Military Bases and Installations Act (hereinafter 'PMBIA') for the safety of flight during takeoff and landing of military aircrafts. The purpose of flight safety zone is to contribute to the national security by providing necessary measures for the protection of military bases and installations and smooth conduct of military operations. In this case, when the state set and used the flight safety zone, the landowner claimed restitution of unjust enrichment against the country. This article is an analysis based on the existing legal theory regarding the legitimacy of plaintiff's claim, and the summary of the discussion is as follows. A person who without any legal ground derives a benefit from the property or services of another and thereby causes loss to the latter shall be bound to return such benefit (Article 741 of the Civil Act). Since the subject matter is an infringing profit, the defendant must prove that he has a legitimate right to retain the profit. The State reserves the right to use over the land designated as a flight safety zone in accordance with legitimate procedures established by the PMBIA for the safe takeoff and landing of military aircrafts. Therefore, it cannot be said that the State gained an unjust enrichment equivalent to the rent over the land without legal cause. Expropriation, use or restriction of private property from public necessity and compensation therefor shall be governed by Act: provided, that in such a case, just compensation shall be paid (Article 23 (1) of the Constitution of The Republic of KOREA). Since there is not any provision in the PMBIA for loss compensation for the case where a flight safety zone is set over land as in this case, next question would be whether or not it is unconstitutional. Even if it is designated as a flight safety zone and the use and profits of the land are limited, the justification of the purpose of the flight safety zone system, the appropriateness of the means, the minimization of infringement, and the balance of legal interests are still recognized; thus just not having any loss compensation clause does not make the act unconstitutional. In conclusion, plaintiff's claim for loss compensation based on the 'Act on Acquisition of and Compensation for land, etc. for Public Works Projects', which has no provision for loss compensation due to public limits, is unjust.

• Journal of the Korean Geographical Society
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• v.49 no.5
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• pp.761-778
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• 2014

There has been relatively little study to model price for commercial property because of its low transaction volume in the market. Despite of this thin market character, this paper tried to estimate prices for commercial lots as accurate as possible. We constructed a model whose components consist of mean structure(global trend), exponential covariance function and a pure error term, and applied it to actual sales price data of Seoul. We explicitly took account of spatial autocorrelation of land price by utilizing a kriging technique, a representative method of spatial interpolation, because the land price of commercial lots has feature of differential price forming pattern depending on submarkets they belong to. In addition, we chose to apply a bayesian kriging to overcome data scarcity by incorporating experts' knowledge into prior probability distribution. The chosen model's excellent performance was verified by the result from validation data. We confirmed that the excellence of the model is attributed to incorporating both autocorexperts' knowledge and spatial autocorrelation in the model construction. This paper is differentiated from previous studies in the sense that it applied the bayesian kriging technique to estimate price for commercial lots and explicitly combined experts' knowledge with data. It is expected that the result of this paper would provide a useful guide for the circumstances under which property price has to be estimated reliably based on sparse transaction data.

• Korean Journal of Social Welfare
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• v.58 no.1
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• pp.291-318
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• 2006

There were many studies conducted on economical aspects of employment among the elderly in national level, however, very few studies examined social and psychological aspects of senior employment and employment preferences of the elderly persons. The purposes of this study were to examine major determinants of decision making in employment, and to explore some relationships among decision making of employment, socio-economic factors, health and psycho-social factors, and labor and economical factors among non-working elderly persons in the community. In all, two-hundred-twenty elderly persons were interviewed and one-hundred-ninety-four were analyzed in this study. The descriptive statistics, analysis of variance, correlation analysis, and logistic regression were used for the data analysis in this study. The study found that the respondent's sex, ages, education, numbers of children, physical health, ADL, self-efficacy, economical stress, numbers of years in labor, asset of real estate, family allowances, and the benefit levels of pension were major determinants of decision making in employment among non-working elderly persons. Finally, some implications were discussed for developing effective senior employment in national policy, job related services, and welfare programs of the elderly persons for the successful aging.

• Land and Housing Review
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• v.7 no.1
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• pp.19-29
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• 2016

This study proposes the big data policy and case studies in Korea and the application of land and housing of spatial big data to excavate the future business and to propose the spatial big data based application for the government policy in advance. As a result, at first, the policy and cases of big data in Korea were evaluated. Centered on the Government 3.0 Committee, the information from each department of government is being established with the big-data-based system, and the Ministry of Land, Infrastructure, and Transport is establishing the spatial big data system from 2013 to support application of big data through the platform of national spatial information and job creation. Second, based on the information system established and administrated by LH, the status of national territory information and the application of land and housing were evaluated. First of all, the information system is categorized mainly into the support of public ministration, statistical view, real estate information, on-line petition, and national policy support, and as a basic direction of major application, the national territory information (DB), demand of application (scope of work), and profit creation (business model) were regarded. After the settings of such basic direction, as a result of evaluating an approach in terms of work scope and work procedure, the four application fields were extracted: selection of candidate land for regional development business, administration and operation of rental house, settings of priority for land preservation, and settings of priority for urban generation. Third, to implement the application system of spatial big data in the four fields extracted, the required data and application and analytic procedures for each application field were proposed, and to implement the application solution of spatial big data, the improvement and future direction of evaluation required from LH were proposed.

• Journal of Digital Convergence
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• v.11 no.8
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• pp.53-64
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• 2013

This study was conducted from the time when discussion of improvement and keeping heavy taxation on multiple home owners was began, experts who may express professional opinion such as realtors, tax accountants and revenue officers were picked up besides the direct interested parties such as single and multiple home owners. This study collected their various opinions regarding whether keeping the heavy taxation system on multiple home owners or not and the effect of it. As a result of the survey, people living in Seoul who owned more houses showed higher awareness about heavy taxation on multiple home owners, and people agreed more about abolishing the heavy taxation when they own more homes. From this study, it was found out that different recognition about heavier transfer income tax on multiple home owners of each person concerned and necessity of rearranging this uncertain condition of temporary regulation in the future. The tax law should be improved to supply clear policy signals to the market for recovery of housing transactions and supply expansion of jeonsei to monthly rental housing and managing of taxation policy which reflects taxpayers' opinion may correspond to more effective and fair taxation principle.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.153-164
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• 2012

Since the sub-prime mortgage crisis from the US in 2008, Korean housing market has plummeted. However, Korean local lease contract, Chonsei, price has been increasing. This increase of Chonsei price can be a threat to the low-income people because most of them prefer to live at the house with a Chonsei contract. In order to solve this problem, the Korean Government implemented several Chonsei policies to secure low-incomers' residence by decreasing the price of Chonsei; however, due to the lack of understanding on housing and Chonsei market, Korean government policy seemed to fail on getting effective results. In the housing and Chonsei market, there are many stakeholders with their own interest, hence, simple thoughts about housing and Chonsei market, such as more house supply will decrease house price, would not work in a real complex housing market. In this research, we suggests system dynamics conceptual model which consists of causal-loop-diagrams for the Chonsei market as well as the housing market. In addition, we tries to explain why the policy did not work effectively using the examples from the government's past measures. In results, Chonsei price has its own homeostasis characteristic and different price movement with housing price in the short and long term period. Unless government does not have a structural causation mind in implementing policies in the real estate market, the government may not attain intended effectiveness on both markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.221-232
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• 2016

The impact of the recent small business start-up competition in the market, has become overheated. It is effected by early retirement of a generation of youth employment. This study is a study on the impact of SEMAS(Small Enterprise and Market Service) system operating of the funding system, education support programs, and consulting support system on the business performance of small business owners. It has surveyed 272 business owners, in Gyeongsangnam-province. The study includes specific support system for usage frequency and satisfaction and conducted from January 2013 to September 2015. In addition, it analyzes characteristic that motivation, business model, item, owner's experience, sales and demographic by small business owner. Analysis results, the management performance of small business that uses financial support system and consulting support system is shown to be high. But education support system is the opposite effect. As a result, the management performance is related to industry experience. Therefore education support system need to be reorganized to the support depends on the development stage. This study was conducted to help small business owners entered the start-up market and a decision-making person with a policy decision.

• Journal of Korean Society for Geospatial Information Science
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• v.24 no.4
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• pp.75-81
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• 2016

This study focused on exploring real transaction price of apartment and spatial and temporal heterogeneity of the variables that influence real transaction price of apartment from the spatial and temporal perspective. As independent variables that are considered to influence real transaction price of apartment, transport, local characteristics, educational conditions, population, and economic characteristics were taken into account. Accordingly, the influence of independent variables and spatial distribution pattern were analyzed from the global and local aspects. The spatial and temporal changing patterns of real transaction price of apartment which is a dependent variable were analyzed. First, to establish an analysis model, OLS analysis and GWR analysis were conducted, and thereby more efficient and proper model was selected. Secondly, to find spatial and temporal heterogeneity of independent variables with the use of the selected GWR model, Local $R^2$ was used for local analysis. Thirdly, to look into spatial distribution of independent variables, kriging analysis was carried out. Therefore, based on the results, it is considered that it is possible to carry out more microscopic housing submarket analysis and lay the foundation for establishing a policy on real property.

• Journal of Cadastre & Land InformatiX
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• v.46 no.1
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• pp.101-115
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• 2016

The uses of land were relatively simple in the old days, but they are being expanded rapidly to the aboveground and underground due to the urban concentration, the large-scale urban development and so on in these days. Accordingly, the concept of the rights to lands grows from 2D to 3D, and many studies about the 3D cadastral information have been performed in recent years. Several studies were performed about the construction and the visualization of the 3D cadastral information, but most of them focused on the 3D visualization of the buildings and facilities. However, it is more desirable to visualize the individual objects of the rights to lands while considering 'the information on the rights' as well as the 'physical information'. Therefore it is supposed to construct and use the 3D cadastral information based on the individual objects of the rights in this paper. The level of the cadastral information will be upgraded by making and describing more detailed 3D cadastral information through this paper. And also the applicability of the 3D cadastral information will be improved when it is used with the real estate information, the demographic information and many others.