• Journal of Biosystems Engineering
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• v.40 no.3
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• pp.178-185
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• 2015

Purpose: This research suggests a method of establishing criteria for working area and operating cost for a long-term lease of agricultural machinery. Methods: Eight crops were selected-three food crops and five open-field vegetables-and agricultural machines used for sowing, transplanting, and cultivation in dry-field farming were analyzed. Results: The break-even acreage for agricultural machinery under a long-term lease was found to differ by agricultural machine, ranging from 1.0 to 5.8 ha. In terms of arable land area, the break-even acreages for harvesting machinery and transplanters were 15.6 to 26.1 ha and 6.1 to 8.6 ha, respectively. The working area lessees should secure was divided into two cases: (1) 2.0 to 11.6 ha when leasing individual agricultural machines (sowing and transplanting) for a long-term period, and (2) more than 10 ha when farmers who cultivate beans, potatoes, garlic, onions, and so on lease sowing and transplanting machines as a set. When agricultural machinery was leased for a long term, the operating cost and working time were reduced by 27.6 to 74.4% and 2.5 to 21.6%, respectively, indicating considerable effect. Conclusions: A long-term lease project needs to be promoted to overcome the limitation of short-term leases of agricultural machinery. The local government should lead this project and facilitate the mechanization of dry-field farming. The department in charge of agricultural machinery lease projects needs to set the working area to cover the rate and maintenance cost for farmers who lease agricultural machinery for the long term.

• Journal of Korean Society of Rural Planning
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• v.20 no.3
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• pp.55-66
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• 2014

Under high agricultural automation in rice farming, cultivation acreage expansion can be considered for the economies of scale. Also, considering the circumstances of higher ratio in leased farms than independent farms, Long-term Leasing Business of Farmland can be the most public and transparent method to expand cultivation acreage for lease farming. Therefore, this research observes the various factors such as application motives, satisfaction, and demands of Long-term Leasing Business of Farmland, which the importance is on the rise and serves as a means to increase agricultural expansion, as well as its operational performance analysis. The research results and implications are as follows. Long-term Leasing Business of Farmland have positive effects such as ensuring stable farming through documental contract, providing convenience because the lease contractor requires no meetings during the contract period, providing opportunities to expand the farm size, and acquiring economical gain which is linked to satisfaction aspects of the businesses. On the other hand, demands such as strengthened business advertisement, writing business documents by correlating with related organizations, and clear lease price configuration were made by the businesses. To bring improvements, this research proposes; 1) expanding support to related businesses, 2) providing convenience through related organization correlations, and 3) configuring clear lease prices considering the regional conditions.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.135-149
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• 2021

Purpose - I analyzes risk-to-performance evaluated in the market using data from sale and lease back. Specifically, I analyze from the perspective of financial institutions that purchase sale and lease back based on the cases of investment by ship investment companies and acquisition of ships. Design/methodology/approach - I use 49 sale and lease back data from 2017 to 2019 for empirical analysis. Findings - The main results of this paper are as follows. First, after sale and lease back of domestic ships, the average amount of sales by the leased shipping company is 25.1 billion won, the average amount of investment by the purchased financial institution is 14.6 billion won (60%) and the average length of the ship is nine years. In ship finance, sale and lease back is deemed to be appropriately used as a means of restructuring for a large amount of money. Second, the main risk factor for sale and lease back of domestic ships is credit risk and can be measured in VaR in practice. As a result of the empirical analysis, the average credit risk burden ratio is 9%. As a major risk factor, low creditworthiness of restructuring companies is the key. Third, as a result of measuring the profitability of financial institutions that purchase sale and lease back of domestic ships at a net current price, it has an average value of 300 million won, but the deviation by case is very large. Fourth, the risk adjusted performance of sale and lease back of domestic ships is 0.54 on average compared to the total risk capital, and 0.52 compared to the stock-risk capital, and as with profitability earlier, the deviation of each case is very large and misaligned. In order to boost the sale and lease back market for large and long-term assets, in order to overcome low profitability as a prerequisite for future participation of commercial purchased financial institutions, it is expected that purchase decisions based on expectations versus risk will be necessary. Research implications or Originality - The results of this paper are expected to broaden the understanding of sale and lease back and foster the ability to assess long-term risk and performance. Based on this, it is believed that rapid restructuring of companies through sale and lease back of large amounts of long-term assets will greatly increase the utility of the domestic financial market.

• Korean Journal of Organic Agriculture
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• v.17 no.4
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• pp.441-461
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• 2009

Switching to organic farming practices in agricultural production reaches the end of the period it takes an average of five years. During this period, agricultural soil management to improve the investment must be sustained. Results of the survey of environment-friendly agricultural lease rates appear to approximately 54.2% lower than agricultural practices. Environmentally friendly agricultural land is leased on a long transition period of the contract cost, many buried incompleteness, uncertainty of contract fulfillment(opportunistic behavior) occurs when the transaction costs. This ultimately can hinder the spread of organic farming. Thus, the qualitative development of organic farming and land leasing in order to minimize transaction costs, should that occur. The alternative 'cooperative long-term lease contract' is a system.

• Journal of Cadastre & Land InformatiX
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• v.52 no.2
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• pp.211-231
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• 2022

This study attempted to identify the effects of macroeconomic variables such as the All Industry Production Index, Consumer Price Index, CD Interest Rate, and KOSPI on apartment lease prices divided into nationwide, Seoul, metropolitan, and region, and to present a methodological prediction model of apartment lease prices by region using Long Short Term Memory (LSTM). According to VAR analysis results, the nationwide apartment lease price index and consumer price index in Lag1 and 2 had a significant effect on the nationwide apartment lease price, and likewise, the Seoul apartment lease price index, the consumer price index, and the CD interest rate in Lag1 and 2 affect the apartment lease price in Seoul. In addition, it was confirmed that the wide-area apartment jeonse price index and the consumer price index had a significant effect on Lag1, and the local apartment jeonse price index and the consumer price index had a significant effect on Lag1. As a result of the establishment of the LSTM prediction model, the predictive power was the highest with RMSE 0.008, MAE 0.006, and R-Suared values of 0.999 for the local apartment lease price prediction model. In the future, it is expected that more meaningful results can be obtained by applying an advanced model based on deep learning, including major policy variables

• International conference on construction engineering and project management
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• 2013.01a
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• pp.151-157
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• 2013

Since the sub-prime mortgage crisis from the US in 2008, the Korean housing market has plummeted. However, the deposit prices of the Korean local lease contract, Chonsei, had been increasing. This increase of Chonsei prices can be a threat to low-income people, most of whom prefer to live in houses with a Chonsei contract. 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 conclusion, the Chonsei price has its own homeostasis characteristics and different price behavior with housing price in the short and long term period. We found that unless government does not have a structural causation mind in implementing policies in the real estate market, the government may not attain their intended effectiveness on both markets.

• Korean Journal of Construction Engineering and Management
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• v.23 no.5
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• pp.108-116
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• 2022

Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.6
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• pp.3907-3915
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• 2014

This paper provides a solution for long-term unexecuted urban parks and its implication by evaluating the policy elements using an analytic hierarchy process approach. The policy elements evaluation was carried out for a group of experts related to long-term unexecuted urban planning facilities or parks. The evaluation process consisted of the following three steps: the selection of policy elements, the weights assessment, and an analysis of the evaluation results. The empirical findings show that experts place a high value on policy elements, such as government subsidies (0.183), the linkage between a municipal fiscal plan and an executive plan (0.165), a reconsideration of the current long-term unexecuted urban parks (0.154), and a grant or long-term lease of state-owned land (0.110). A wide range of in-depth discussion is strongly needed ahead of the sunset regulation on urban parks, which will take effect in 2015.

• Journal of Practical Agriculture & Fisheries Research
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• v.9 no.1
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• pp.3-12
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• 2007

It is our imminent project that we should train young and able manpower to strengthen the international competitiveness under the free trade of agricultural products, to solve the problem of decrease in farm population and of aging people in agriculture. The objective of this research is to suggest an alternative policy plan through the survey and analysis on the controversial issues in loans for starting agricultural business based on the survey of graduates of Korea National Agricultural College from 2002 to 2005. According to the survey, in case of graduates who are not available sufficient fanning capital such as land and agricultural facilities on it, they are not able to get loans from banks in that situation. The survey, as a result, points out that those who are legally required to do farming should be given several special aids by the government such as the improvement of Credit Guarantee Fund System for Farmers and Fishermen and the farming loans conditions for initial farm business, a long term lease of public land, giving a priority in lease-farmland project of farmland bank and allowing loan for working capital for farm management.

• The Journal of Economics, Marketing and Management
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• v.10 no.1
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• pp.15-26
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• 2022

Purpose: The purpose of this study is to analyze the method of calculating the usage fee, rent, and lease rights of public goods necessary for the operation and management of the underground shopping mall, and to suggest systematic improvement points for the operation of the underground shopping mall. Data and Methodology: First, ordinances and regulations related to common property were investigated. Second, previous studies were analyzed. A survey was conducted with five questions that conflict with the interests of underground shopping mall merchants among the ordinances and operating systems related to the current underground shopping malls' common property. Results: Underpass merchants wanted monthly payment for the use of common property, and merchant organizations wanted to limit the increase rate with the right to use. They asked for the property value due to donation to be excluded from the loan fee, they wanted to revise the Common Property Act on the transfer of lease rights, and they wanted to revise the loan contract renewal period. Conclusion: There is a need to improve the laws and systems for underground shopping malls, and it will have to be negotiated according to the opinions of the merchants gathered among them, and it will have to be implemented in stages in the long term.