• Land and Housing Review
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• v.15 no.1
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• pp.1-22
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• 2024

This research explores the household and housing characteristics of young renters aged between 19 and 34 living independently in rental housing of non-Seoul Metropolitan Area (non-SMA) and to determine the factors of their housing affordability and residential environment qualities in two districts of non-SMA - metropolises and non-metropolises. Using the 2020 Korean Housing Survey (KHS), this study identified 1,191 unmarried young renters, and most were single adults in mid-twenties who were salaried workers with a bachelor's degree or higher. Also, many lived in single-room occupancy of non-APT housing for less than 2 years and rarely relied on social services. The findings showed that the distinction of local housing market between metropolises and non-metropolises forced the former to spend more housing expense (tenancy deposit and rental fees) than the latter. With regard to housing affordability indices (Schwabe index, housing expense ratio and rent to income ratio), most were housing cost-burdened and nearly one quarter were severely rent-burdened. The regression analysis indicated that housing affordability in both districts was positively affected by income increase and social services, and housing satisfaction in non-metropolises was added to its determinants. Further, residential environment qualities were largely divided into two groups of livelihood and urban infrastructure, and the two factors influenced residential assessment in both districts. Since young renters interdependently living had suffered with housing affordability, both income growth and housing assistance are critically required to enable them not just to reduce the burden but to ensure livability.

• Land and Housing Review
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• v.13 no.4
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• pp.13-26
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• 2022

This study analyzes housing choice determinants of the youth and newlyweds households by using housing survey data in Incheon. A multinomial logit model is employed for analysis with the following variables: housing characteristics, housing market characteristics, and residential and neighborhood environment characteristics. The findings from the analysis are as follows. First, for the continued residence of the youth, the important factors were the relief assistance of housing maintenance costs. For the newlyweds, the important factors were the quality improvement of residential environments to ensure residential stability. Second, the housing choice factors to attract the youth were residential support for rent, maintenance costs, and relocation, and the improvements of residential environments such as security, noise levels, and medical facilities. For the newlyweds, the important factors were housing loan assistance for a home purchase or a cheonsei deposit and residential quality improvements for air pollution and parking facilities. Third, the youth were likely to move out due to high rental costs, and the newlyweds were likely to move out for the purchase of a new apartment or higher-quality housing.

• Journal of Cadastre & Land InformatiX
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• v.45 no.1
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• pp.75-97
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• 2015

Recently public institutions' debt is growing therefore it became an important issue to the level that the government concerns about the possibility of financial burden to reduce the debt. Especially debt of public enterprises in metropolitan areas was in a serious state where debt in late 2013 was 43.2 trillion, which takes approx. 58.4% of 73.9 trillion of debt of all local public enterprises. Sound financial state of local public enterprises is important to public enterprises in metropolitan areas and it may affect seriously financial stability of local governments when public enterprises have financial problems. However, land supply business to form local industrial complexes or local demand for development of public rental housing business always exist; and vitalizing local economy and creating jobs through these businesses are very necessary to develop the areas. However, for local economic development, industirial land business and public rental housing business are needed. In this study, Gwangju Metropolitan City Corporation Ltd is used as a case study to evaluate the local public financial soundness via debt management assessment i.e.(using) the feasibility analysis in the urban development and housing development. As an improvement measure following the result of analysis, for the enhancement of financial soundness of urban innovation corporation, the government and local government shall evaluate and differentiate market demand, price competitiveness, and infrastructure of new town land development project to improve accuracy of project feasibility analysis. Another important insight is that there should be local government-centered management of liabilities of the local government and local public enterprises with the integrated liability management system to reduce the liability of the corporation and solve the issue of debts for local government. This study is significant in that it has analyzed cases from the theoretical aspect to secure financial soundness of national and local public enterprises.

• Land and Housing Review
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• v.12 no.4
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• pp.15-30
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• 2021

Korean urban development cooperation is gradually expanding into Latin America and the Caribbean (LAC) region, but strategies to encourage domestic market players to participate are insufficient. This paper investigated the Colombian urban planning system, urban development projects, and Korean projects in Colombia, which leads to implications for international cooperation in LAC. This research, first, compares the national and regional urban planning systems of Colombian major cities, Bogotá and Medellín. Second, case studies are carried out with a land readjustment project, a Macro project for large-scale public rental housing supply, and urban development cooperation between Korea and Colombia. By doing so, the role and the directions for Korean urban development cooperation with LAC such as Colombia are discussed and proposed. The findings suggest, first, aid projects through Official Development Assistance (ODA) should establish urban networks in recipient countries. Second, it is necessary to understand the financing structure for urban development cooperation projects that are different from infrastructure projects. Third, the successful case of urban development cooperation should be demonstrated by making the development period and size optimal and manageable.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.5
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• pp.433-442
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• 2021

This study analyzed the housing market before and after the New Stay movement which was introduced in 2015. In this study, the territories having a New Stay Project and non-involved territories were analyzed based on the apartment price changes according to supply for 12 months before and after the movement date. This study used the difference-in-differences statistical technique. A comparison was carried out in Michuhol-gu, Incheon between Dowha-dong where a New Stay Project was executed, and Sungeui-dong where no project was executed, based on the movement date. It was seen that the price level in the former territory was higher than the latter demonstrating that the introduction of the New Stay Project in Dowha-dong lowered the apartment prices nearby (Sungeui-dong). A comparison in Gwonseon-gu, Suwon between Omogcheon-dong where a New Stay Project was executed and Gosaek-dong where there was no such project, based on the movement date showed that the introduction of the New Stay Project in Omogcheon-dong seemed to lower or stabilize the apartment prices nearby (Gosaek-dong). These results imply that the apartment prices in nearby areas can be stabilized if the supply volume of company-type rental houses is increased.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.6
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• pp.710-719
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• 2017

This study conducted a survey on the time serial change in the aging ratio and population structure in new towns and their housing complex of Korea and Japan, and revealed the differences in the factors that affect the aging ratio in new towns of Korea and Japan through a comparison of the housing provision of housing complex with a high aging ratio. Rapid aging is underway around the housing complexes that were developed in the beginning of Tama new town in Japan. Agingtends to increase in proportion to the opening time of the housing complex. Rental housing residents of early migration households showed rapid aging because they had generation separation early due to narrow housing. On the other hand, Bundang new town maintains a lower aging ratio and speed than Seoul and Seoul metropolitan area due to the constant influx of student population. On the other hand, aging is more likely to increase in large houses due to the depression of the real estate market.

• Journal of the Korean housing association
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• v.25 no.1
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• pp.33-40
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• 2014

As China has the largest number of elderly people in the world, the issue of the aged people has been a serious matter of concern in Chinese government and society and many studies have been done so far. However, the studies about the dwellings of the aged people that support their basic life are still insufficient. For this reason this study intends to identify the differences in elderly people's preferences according to their situations in aged life. This study surveyed 152 elderly residents aged 50 and over including early aged people in Beijing China about their residential preferences (types of residence, location of residence, size of residence, types of ownership) according to the four types of their situations in aged life, healthy couple, sick couple, healthy single and sick single. The survey conducted from 2013 April 10th to 15th. The results were as follows: Firstly, as the elderly situation became worse, preference for the independent residence decreased very rapidly while the preference for the elderly welfare facilities dramatically increased from the 0 point of the healthy couple and the preference for the elderly welfare facilities marked the highest point in case of the worst situation of sick single. Secondly, among the four different situations preferences for the urban residence were the highest and as the aged people's situation becomes worse, their preferences for urban life increased. Thirdly, healthy couple preferred a large size residence but as their elderly situation becomes worse, their preferences for the large size decreased and their preferences for small size increased dramatically, and in case of elderly singles, preferences for small size residence exceeded their preferences for large size residence. Fourthly, as elderly situation became worse preference for owning residence decreased and preference for rental residence increased and in case of the worst situation of sick single, preference for rental residence was higher than their preferences for their own residence. With this view of point, the residential preference of elderly people changes along with their aging situations. Thus, the government should consider the variable aging market, and develop a variety of aging residence which, can satisfy the different groups of elderly.

• Journal of the Korean Data and Information Science Society
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• v.25 no.6
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• pp.1361-1369
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• 2014

This research is for analyzing the change rate of housing rent price index produced by KAB (Korea Appraisal Board) in the monthly periodical, Survey on Housing Monthly Rent. The index is a very important and useful indicator to understand and diagnose the house rental market. However, the index is criticized in that it tends to decline when the price level of Jeonse (i.e., a typical type of dwellings in Korea, generally leased on a deposit basis for 1 or 2 years) is highly going up, which is inconsistent with the actual economic sentiment of tenants. We verify the reason why such phenomenon occurs and suggest a simple but novel method to analyze properly the change rate of the index. The main findings are as follows. The key factor to trigger the problem is the use of the conversion rate for Jeonse-to-monthly rent for constructing the rent price indexes. We separate the effect of the conversion rate out of the change rate of the index and quantify the adjusted real change rate showing an increase of the rent price level which is masked by the conversion rate before.

• Korean Journal of Construction Engineering and Management
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• v.22 no.6
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• pp.34-43
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• 2021

While universities are making every effort to improve the housing welfare of university students by establishing new dormitories, the construction of school dormitories has intensified the conflict with other certified real estate businesses on the basis of their right to survival. Thus, it is necessary to analyze the causality in the conflict to coherently understand the conflict between these stakeholders. To do so, this study conducted a survey questionnaire on certified real estate businesses in the vicinity of private universities with dormitories in the metropolitan area. This study targeted licensed real estate brokerage agencies that conclude rental contracts in view of different stances, and control the real estate rental market by controling their conflict. Investigated the influence relationship between universities and licensed real estate brokerage agencies in relation to construction of private university dormitories and the effect of this conflict on management performance of licensed real estate brokerage agencies, and analyzed the relationship among relevant variables to see if their dormitory recognitions have a moderating effect. In addition to analyzing the causality of conflict level (perceived conflict, expressed conflict), conflict management, conflict outcome, and management performance, the study also verified the moderating effect of perception on dormitory and the mediating effect of conflict management. The results showed that conflict level had a negative (-) effect on conflict management, while the perceived conflict and conflict management of the conflict level had a negative (-) effect on the conflict outcome. In the relationship between perceived conflict and conflict outcome, conflict management had a complete mediating effect while expressed conflict had a partial mediating effect. Lastly, the perception of university dormitories did not have a moderating effect for the influence of conflict management on conflict outcome.

• Land and Housing Review
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• v.12 no.2
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• pp.33-45
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• 2021

Due to recent changes in government policy, officetels have received attention as alternative assets, along with the uplift of office and apartment prices in Seoul. However, the current officetel price indexes use small-size samples and, thus, there is a critique on their accuracy. They rely on valuation prices which lag the market trend and do not properly reflect the volatile nature of the property market, resulting in 'smoothing'. Therefore, the purpose of this paper is to create the officetel price index using transaction data. The data, provided by the Ministry of Land, Infrastructure and Transport from 2005 to 2020, includes sales prices and rental prices - Jeonsei and monthly rent (and their combinations). This study employed a repeat sales model for sales, jeonsei, and monthly rent indexes. It also contributes to improving conversion rates (between deposit and monthly rent) as a supplementary indicator. The main findings are as follows. First, the officetel price index and jeonsei index reached 132.5P and 163.9P, respectively, in Q4 2020 (1Q 2011=100.0P). However, the rent index was approximately below 100.0. Sales prices and jeonsei continued to rise due to high demand while monthly rent was largely unchanged due to vacancy risk. Second, the increase in the officetel sales price was lower than other housing types such as apartments and villas. Third, the employed approach has seen a potential to produce more reliable officetel price indexes reflecting high volatility compared to those indexes produced by other institutions, contributing to resolving 'smoothing'. As seen in the application in Seoul, this approach can enhance accuracy and, therefore, better assist market players to understand the market trend, which is much valuable under great uncertainties such as COVID-19 environments.