• 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 the Economic Geographical Society of Korea
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• v.13 no.4
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• pp.663-680
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• 2010

This paper aims at analysing Regional Patterns of Farmland Price Changes for the Farmland Reverse Mortgage System. Farmland Reverse Mortgage(FRM) is a system in which the aged farmers in the rural areas receive certain amount of money monthly through the liquidation of their own farmlands for the life time. Farmland price affects the farmland annuity considerably. In the future, if the farmland price goes down than the price when the borrower joined FRM, the borrower can get profits from the pension. Based on the results, the farmland price of Kyeonggi-do is strongly related to economic growth rates(index of industrial product). while that of Gyeongsangbuk-do is weakly related to economic variables including economic growth rates. Therefore, the expectation of farmland value rising rate will be higher in Kyeonggi-do than in Gyeongsangbuk-do. Thus the number of borrowers who want to join FRM in Gyeongsangbuk-do will be more than those in Kyeonggi-do.

• Journal of the Economic Geographical Society of Korea
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• v.13 no.4
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• pp.548-560
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• 2010

This study aims to estimate the payment of farmland reverse mortgage(FRM) and to explore policy considerations about the restructuring of rural area after the initiation of farmland reverse mortgage. Farmland reverse mortgage provides stable monthly income basement for the welfare of rural elderly by liquidating fixed asset such as farmlands which the elderly in rural area owns. The main results of this study can be summarized as follows. First, FRM model based on Housing Equity Conversion Model, which is suggested by Rodda et al (2003), was built. Then, critical factors like farmland value rising rates and interest rates were elaborated, and affordable and proper monthly payment were estimated. 246,982 won, 419,374 won and 757,379 won is given to the borrower at age 65, 75 and 85 respectively with 100,000,000 won value farmland. Second, policy considerations which are necessary for the successful launch of FRM, and restructuring of rural area after launching FRM were discussed. Three policy considerations were proposed. First is about the integrated asset management system for rural elderly people. Second is about the reasonable settlement of corporate farmers system. And third is about the preparations for rural land use planning.

• Journal of Korean Society of Forest Science
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• v.104 no.3
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• pp.503-511
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• 2015

The purpose of this study is to suggest the introduction plans of forest land bank system for effective forestry management as well as the livelihood stability support of aged forest landowners. It is expected that forest land bank system can contribute to solve forestry management problems caused by small and scattered forest lands, aging forest landowners, and the increase of absentee forest landowners. This study examined an existing related case of Farmland Bank system, and suggested basic directions, main functions, priority, and agency for forest land bank system. The goals of forest land bank system include activating private forest land management, improving forest management scale, and supporting stable forestry income. Based on the examination of this study, main projects of forest land bank involve forest land sale and lease consignment, forest land reverse mortgage, forest land scale improvement project, and forest business recovery support program. In addition, this study discussed potential problems and their solutions in introducing and operating the forest land bank system. This study can play a key role to determine a basic direction and to establish policies of the forest land management.