• The Journal of the Korea Contents Association
• /
• v.18 no.4
• /
• pp.416-427
• /
• 2018

As the loan size of real estate PF is huge, its market ripple effect gets bigger when overdue occurs. Accordingly, the management of the delinquency rate and macroeconomic analysis are required. As the preceding research mainly proceeded with microeconomic analysis through the real estate PF data of individual banks to evaluate importance of list or analyzed core factors for delinquency, it lacked research on comprehensive real estate PF size. In order to overcome the limitations of such data, this research studied real estate PF delinquency rate of the entire market and effect relationship by the size. The research utilized the size of real estate PF loans, money supply, interest rate, consumer price index(CPI), and GDP data. Also, it applied the first model of VECM as linear relationship between at least two or more variables, following the result of co-integration test. As a result of Granger-causality test, the real estate PF loans delinquency rate is influenced by their loan size, and as a result of impulse response analysis, the interest rate is shown to be affecting delinquency rate the most. Interest rate could risesomeday and aggravate the delinquency rate of real estate PF. Also, risk exposure could be serious as the loan size increases.Therefore, the management of real estate PF delinquency rate requires continuous monitoring, tracking and observing issued loans from a macro point of view. The plans to prevent delinquency will be necessary.

• Journal of the Korean association of regional geographers
• /
• v.11 no.1
• /
• pp.83-100
• /
• 2005

The Seoul Metropolitan Area's economy has undergone structural changes since the 1990s. With recent structural changes in the Korean economy in mind, this paper employs a decomposition analysis of Gross Regional Domestic Product per head and labor productivity to examine how the region's economic performance has changed relative to that of Korea since the 1900s. There are some findings. First, a strong cumulative causation process, derived from industrial linkages and agglomeration effects, has oocurred in the Seoul Metropolitan Area, widening economic disparities between the Seoul Metropolitan Area and the other regions especially since the Korean financial crisis in 1997 mainly due to Gyeonggi province's overwhelming cumulative GRDP growth relative to the national average. Second, the Seoul Metropolitan Area has begun w display good economic performance in terms of labour productivity relative w the national average since the late 1990s, with the region's industrial upgrading being implemented. Finally, manufacturing, financial intermediation and communications have made sensitive contributions to relative Seoul Metropolitan Area's labor productivity growth.

• The Journal of the Korea Contents Association
• /
• v.18 no.3
• /
• pp.472-485
• /
• 2018

The purpose of this study is to analyze debt zeroing policy process of Yong-in city based on the Kingdon's Multiple Stream Framework in order to contribute to strengthening financial capacity and competitiveness of local governments. This study focused on the Yong-in case because the city had a local debt of about KRW 800 billion as of 2012, but it completed the debt repayment in early 2017. The results are as follows. First, policy problem streams are the perception of Yongin City's debt indicator, the failure of the LRT project, and the failure of sale of buildinglots of Yukbuk district. Second, in the political stream, there have been the election of new governors, cooperation of local administration and citizens like budget cut. Third, policy alternative streams are the reduction of large-scale investment projects, the expansion of revenues through the sale of idle shared properties, the increase of tax revenues, and the activation of light rail. As the each streams flowed independently, the window of policy change opened by the revitalization of the real estate market and the sale of buildinglots of Yukbuk distric and combined with other policy factors such as the activation of the light rail. In this process, the role of the policy entrepreneurs such as negotiation and persuasion of the related institutions influenced achieving tight fiscal policy. As a result of this policy output, Yongin City achieved zero debt. This study suggests that it is necessary not only the importance of the role of policy entrepreneurs but also of the administrative and citizen cooperation and the institutional complement such as a large scale of the investment review system.

• Korean Journal of Construction Engineering and Management
• /
• v.18 no.4
• /
• pp.3-16
• /
• 2017

Forecasting cash flow is very important but is difficult and complicated to analysis in high-rise development projects. And An expected value which was forecasted on the early stage is likely to fluctuate due to uncertainties around such complicated huge project to consider the probable uncertainty. There are not objectified method which are able to cope with uncertainty of project, and feasibility study based on selected financial analysis does not include liquidity of cash flow. Through such a stochastic method, developer can cope with cash flow fluctuation and set up a financial plan. Also this study is meaningful for laying the foundation for high-rise development project and feasibility study as well as the suitability and accuracy of feasibility study. Analysis showed that NPV and IRR include residential apartments shows surplus revenue as return of apartments offset deficit of hotel and office. Factors influencing the project feasibility for high-rise development project are sales account of $1^{st}$ year and annual vacancy rate of office.

• Journal of Labour Economics
• /
• v.26 no.3
• /
• pp.149-179
• /
• 2003

This study is analysing the factors determining individuals' behavior of selecting self-employment not only at the micro-level but also at the macro-level to put a particular emphasis on the financial constraint and unemployment rate representing business cycle. The data used in this study are "Korean Labor and Income Panal Study" of the Korea Labor Institute and "Economically Active Population Survey" of National Statistical Office. The main findings are as follows. First, human capital such as educational attainment and job experience has positive effects on male's selection of self-employment. The effects of job experience, however, changed negative for female's selection of self-employment. Second, real estate is significantly enhancing the selection probabilities of employer selection while the income from financial assets has negative effects. Third, entrepreneurial culture and environment are also raising the self-employment selection probability. Lastly, the regional unemployment rate representing the business cycle has positive effects on the self-employment selection after the financial crisis in 1997 both at the micro and macro level. Moreover, the coefficient of regional unemployment rate has changed positive in the structural model of self-employment selection controlling for selection bias and income opportunities, which means that individual's behavior of self-employment selection is rather complex when accounting for the uncertainties of income opportunities and diverse characteristics of self-employment workforce.

• Journal of Cadastre & Land InformatiX
• /
• v.47 no.1
• /
• pp.143-160
• /
• 2017

Since officially assessed land price system was introduced, it has functioned as the criterion for establishing and implementing real estate policies. However, there is a controversial issue about the adequacy of the officially assessed land price system. The problem is that it is difficult to establish a statistical model due to too many land characteristics. Also, local economy, macroeconomic environments and development plans are not reflected in the land price evaluation model. Considering longitudinal and cross-sectional variables, a two-way error component panel model was used in this study. This analysis model includes variables reflecting land characteristics, macroeconomic volatility, and development project. The Paju LCD Industrial Complex was selected as a analysis area and an empirical analysis was performed. According to the analysis, the number of significant land characteristic variables were 14(31%) under 5% significance level. Macroeconomic volatility has had an influence on the land price and year variable reflecting development project has consistently been significant since the industrial complex was designated. Therefore, this study suggests that the land price evaluation model should be improved by simplifying land characteristic variables and including macroeconomic and regional economic variables.

• International Commerce and Information Review
• /
• v.16 no.3
• /
• pp.121-138
• /
• 2014

China and Korea have interacted with each other for 20 years since 1992 when China and Korea established diplomatic relations. During this period, the trade and investment between two countries have increased rapidly. In addition to the enhancement of economic cooperation and the expansion of personal exchange, the relationship between two countries was upgraded to mutual strategic cooperative relationship in 2008 from the 1 friendly and cooperative relations and the economic exchange and cooperation were largely expanded. In this paper, the current situation and characteristics of the trade between China and Korea were figured out. In order to find out the development direction of China and Korea trade, through empirical analysis, the correlation of decisive factors that influence the trade amount of these two countries were analyzed. In terms of dependent variables for the empirical analysis, the trade amount between China and Korea was considered. While the GDP of these countries, the direct investment amount of two countries and the openness of external trade of these countries were considered as independent variables. The degree of economic freedom of these countries was set as policy variable. According to the analysis results, when the GDP of China and Korea is getting higher, there is positive influence on the trade amount of China and Korea. It is showed that the direct investment of Korea has positive influence on the trade amount of China and Korea. Meanwhile, there is negative influence of China's direct investment on the trade amount. When the degree of freedom of these countries is getting higher, the influence of trade amount was showed significantly. Furthermore, when the economic freedom of these countries is getting higher, the insignificant things about trade amount of China and Korea were extracted as insignificant.

• Korean Journal of Construction Engineering and Management
• /
• v.16 no.1
• /
• pp.74-81
• /
• 2015

As one of urban infrastructure system, the electricity substation is critical for urban life and industrial activity as the electricity demands get higher than ever. However the substation is generally regarded as unpleasant or dangerous facility, which finally results in the continuous opposition movement by resident due to the belief of unidentified negative effect in apartment prices. Accordingly, as the scientifically objective and quantitative analysis is required to solve the social conflict, this study intends to examine the variation affected by urban infrastructure system, expecially for substation. After the independent variable defining the price of apartment and the dependent variable, which is apartment price, are identified and their spatial data has been filed, the forecasting model has been developed through the hedonic price function as well as artificial neural networks system. The research finding indicated that the spatial range affected by substation is not notable and the range of some case was applicable for less than 600m. It is expected that these research findings can be applied for establishing the one of solid cases for the analysis of economical effect to local housing market by the urban infrastructure system.

• Spatial Information Research
• /
• v.20 no.6
• /
• pp.77-90
• /
• 2012

In this paper, we examined how to utilize QR codes for meeting the information demand and making better use of the paper map. By Decision Tree Analysis, we investigated whether to have any intention to use the paper map with QR codes for receiving more information and what decision variables affect the answers. Thus, we also surveyed the area of providing information and sectoral demand for deriving additional information demand to being provided through QR codes. In the results of our study, we confirmed that the decision variables, to make any intention to use the paper map with QR code, are the frequency of using the paper, the experience of using the paper map, the intention to buy the paper map, the experience of using QR codes and the experience of buying the paper map. In these variables, the frequency of using the paper map is a major factor to decide whether it is intended to use the paper map with QR codes. we also identified that there are various additional information demand using the paper map with QR codes in the area of 'Daily life', 'Real estate', 'Education', 'Travel and Leisure', and 'Entertainment'. Especially additional information demand is high in the area of 'Travel and Leisure'. These results could be used to find a way how to vitalize the usage of paper map by introduction of QR codes and how to develop QR codes for the paper map and concerning applications.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.1
• /
• pp.86-98
• /
• 2013

This study began with the fact that the relationship between eductional environments and housing price needs to be understood in the context of the structuring of socio-spatial disparity. In other words, this paper focuses on the fact that the eduction with public features and functions plays a role of housing price determination and the rising price is privatized only to cause socio-spatial inequality. The study first examines how the education factors determine the housing price and cause increasing social inequality in Seoul at the macro level. It also carried out more detailed quantitative analysis on the relationship between educational environment factors and housing price with the case study of Yangcheon-gu, Seoul. This study found out that the close relationship between educational environment, housing price and social disparity at various spatial scales. It also figured out the the educational environment factors play an important role of housing price determination as much as material features per se. This means that the relationship between education, housing price and inequality needs to be dealt with not just socially but also in spatial perspective. In addition, the housing price determination is not just technical research but an social science issue in the context of rising socio-spatial disparity. This study is of only significance as a starting point of promising related researches in the future and much more efforts will be needed.