• Land and Housing Review
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• v.13 no.1
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• pp.55-65
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• 2022

This paper investigates the distinct characteristics of freehold and leasehold households living in the seven largest cities and the other areas. We employ the two-stage logit regression analysis to identify the marginal effects of wealth and income after controlling for the other one. We document the following results. First, households with more net wealth are more likely to reside in their own houses, regardless of living areas. Second, the pure income effect after controlling for wealth and other variables lowers the tendency of freeholders to live in the seven largest cities while increasing the tendency to live in the other areas. Furthermore, the income effects reduce the tendency to live in the former regions. Our results suggest that the pure income effects enhance preferences for a better living environment (e.g., larger spaces, better school districts, etc.), whereas the wealth effect increases the likelihood of freeholds.

• The Journal of the Korea Contents Association
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• v.16 no.6
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• pp.323-333
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• 2016

This study aimed at specifically validating the mediating effect of the elderly's leisure participation with regards to the impact of socio-economic factors on the elderly's satisfaction with life. This paper analyzed the data of 7,486 people who participated in the 4th research of the 2012 Korean Longitudinal Study of Ageing (KLoSa) by Korea Labor Institute. The outcome is as follows. First, among socio-economic factors, educational background, total household income and net asset were found to have positive impact on the elderly's satisfaction with life. When the level of the three factors was higher, the satisfaction with life was also greater. Second, the three socio-economic factors (educational background, total household income and net asset) affected the elderly's satisfaction with life through mediating effect of leisure participation. Those with higher educational background, total household income and net asset showed more leisure participation, leading to greater satisfaction with life.

• Korean Business Review
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• v.17 no.2
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• pp.25-39
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• 2004

This paper examines the effect of the amendment of the valuation method for unlisted stocks in the inheritance tax law. There were many criticisms on the valuation method of the inheritance tax law because the method is not effective in the respect of the fairness in taxation. The method in the inheritance tax law was amended four times since the year 1991. This research focused on whether these amendments increased the impartiality in taxation or not. The finding of the empirical test indicates that as the valuation method were amended, the stock prices calculated by the valuation method were closer to the real stock price. On this ground, I could conclude that the amendments were effective in decreasing the partiality in taxation. In spite of the result, considering the cycle of stock market, I found that the problem of unlisted stock valuation in the inheritance tax law. The law lacks flexibility and elasticity.

• Korean Journal of Social Welfare
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• v.62 no.3
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• pp.31-58
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• 2010

Using Seoul Welfare Panel Study, this research examines regional differentials in income and asset between Gangnam households and Non-Gangnam households in Seoul. Applying the Oaxaca decomposition method, it also decomposes factors associated with the differentials into explained and unexplained components. Results show that average monthly income is about 4 million won for Gangnam households and 3.2 million won for Non-Gangnam households. The explained component accounts for most of the income differential, which mainly originates from differences in the distributions of individual and household characteristics associated with the monthly income. The net asset differential between the two regions is much greater than the income differential. The net asset is about 460 million won for Gangnam households and approximately 280 million won for Non-Gangnam households. Most of the net asset differential is remained unexplained after controlling for covariates which measure demographic characteristics of householders and various features of labor market in which household members are employeed. It implies that other factors such as inter-generational transfers of wealth may play a significant role in creating the net asset differential.

• Proceedings of the Korean Society of Computer Information Conference
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• 2019.07a
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• pp.179-180
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• 2019

본 연구는 5차국민노후보장패널 데이터(KReIS)를 활용하여 노인의 신체적 건강과, 자산(총자산-총부채=순자산)이 우울감을 매개로 삶의 만족에 어떠한 영향을 미치는가늘 규명하고자 한다. 분석대상은 65세이상 노인 3,960명이다. 주요 분석변수는 독립변수로 신체적 건강, 순자산, 매개변수로 우울감, 종속변수로 삶의만족을 분석할 것이다. 이러한 자료분석을 위해 SPSS 21.0을 사용할 것이다.

• Journal of Labour Economics
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• v.39 no.4
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• pp.57-78
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• 2016

This study analyzes economic behaviors of government employee pension subscriber's household by comparison to national pension subscriber's household. First, government employee pension subscriber's household income is higher than national pension subscriber's one. Second, household net assets of government employee pension subscriber are smaller than the ones of national pension subscriber. Government employee pension could crowd out private household savings, and a national pension subscriber's household inherited more than a government employee pension subscriber's. Third, a government employee pension subscriber's household is also likely to expend more than a national pension subscriber's household. Both summary statistics and fixed effects estimates give significant coefficients to government employee's dummy. Government employee pension subscriber's households do not need to save more because they expect to receive a stable retirement pension which gives relatively higher compensation. Thus, they are likely to consume more than national pension subscriber's households.

• Korean Journal of Construction Engineering and Management
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• v.20 no.6
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• pp.57-65
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• 2019

If aging apartments are left unimproved through remodeling, the city will be eventually slum. As the government recognizes remodeling as an alternative to reconstruction, the law has been revised mainly to increase the housing area, increase the number of house and allow the vertical extension for making remodeling costs. However, the remodeling is still not activated yet in the market. Therefore, this study analyzes the decision factors of apartment remodeling in Seoul metropolitan area based on Heckman two-stage analysis considering sampling error. Research findings indicate that the decision for remodeling is determined by the characteristics of the household, housing, and time-lapse variables. And also the number of household members, net assets, housing satisfaction, the 11-20, 21-30, and more than 30 years of building are identified as the significant variables as a result of remodeling choice probability analysis. It is noteworthy that the significant variables from then remodeling cost analysis are net assets, area, more than 30 years of building, and unit housing price. It is also notable that the policy, which extend the housing area to cover remodeling cost, are not actually effective to activate the remodeling, and the age in the case of elderly people in Seoul and Gyeonggi-do who are expected to have high net assets and income is not significant variables. This study is expected to provide more objective and reliable implication to the policy makers, the home owner and the investors on the decision making process related to the remodeling project.

• Korean Journal of Food Science and Technology
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• v.20 no.1
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• pp.40-44
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• 1988

This paper was carried out to investigate the relation of pH, aciidity and sourness during Kimchi fermentation and preservatives on Kimchi fermentation. Na-acetate, Na-malate, K-sorbate and K-sorbate+acetic acid were added to Kimchi samples. These Kimchi samples were fomented for 7 days at $37^{\circ}C$ and $20^{\circ}C$. In the experiment about the sourness and buffer action by organic salts which showed that the intensity of sourness was differented by the difference of pH in the same acidity. Na-acetate (0.3%) and Na-malate (0.3%) acted as good buffer, whereas K-sorbate (0.1%) and K-sorbate (0.1%)+acetic acid (0.05%) acted as lactobacilli growth enhancer in the fermentation.

• Journal of Korean Society of Rural Planning
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• v.15 no.2
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• pp.69-80
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• 2009

The purpose of this paper is to estimate the regional economic impact of reverse mortgage system based on farmer's net asset of house and farmland together. The regional economic impact was estimated by using inter-regional input-output model. Major findings are as follows: 1) The result of input-output analysis shows that 49,130 million won of production effect, 20,040 million won of value added effect, and 24,759 number of employment effect, 2) Since the result shows that the elderly spend most of the reverse mortgage money for their living expenses, it seems necessary to adopt net asset based reverse mortgage system to improve and stabilize farmers' living conditions and regional economy.

• Journal of Korea Society of Industrial Information Systems
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• v.18 no.1
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• pp.81-89
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• 2013

The purpose of this study is to analyze the information effect about the pricing using the ETF price, the benchmark index, and the total tracking error between the ETF price and the benchmark index on the index ETF market and sector ETF markets. Furthermore, the total tracking error is distinguished between the market tracking error and the NAV tracking error. Summary of this study are as follows: First, While KODEX200 don't have impact factors on the price, the most sectors of ETF have the factors affecting the pricing decision. They are the day before the total tracking error or market tracking error. Second, for the ETF price of the most industry, we find that the day before the market tracking error have the price discovery function because it is a negative(-) coefficients. But NAV tracking error could not find such a feature. Finally, the sector ETF price of energy chemical, construction, IT, and semiconductor industries affected of the day before positive(+) impact by the benchmark index price.