• Title/Summary/Keyword: Real estate

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Case Analysis of Conflicts in Renewable Power Generation Projects Using Non-cooperative Game Theory (비협조적 게임이론을 활용한 신재생발전사업 갈등 사례분석)

  • Park, Jaehyon;Kim, Kyeongkuk;Kim, Kyeongseok
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.44 no.2
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    • pp.215-221
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    • 2024
  • The government is encouraging the expansion of renewable energy facilities through national renewable energy policy. However, the installation of renewable energy generation facilities has led to local resident complaints due to landscape degradation, electromagnetic wave emission, real estate devaluation, and environmental pollution. This creates conflicts between power project developers and residents, making the progress of projects more difficult. This study applies non-cooperative game theory to analyze eight cases of renewable energy projects where conflicts between developers and residents were resolved through resident's investment participation. By accepting investments from local stakeholders, residents achieved returns ranging from a maximum of 25 % to a minimum of 4.1 %. It was found through game theory analysis that a dominant strategy involves residents agreeing to the development of the project and the developers sharing a portion of the profits with the residents. The analysis results show that the point where dominant strategy meet forms a Nash equilibrium, and at the same time becomes the Pareto optimal point, benefiting both power generation operators and residents.

Open Space Spacial Pattern Analysis from the Perspective of Urban Heat Mitigation (도시 열저감 관점에서의 오픈스페이스 토지이용 공간패턴분석)

  • Sangjun Kang
    • Journal of Environmental Impact Assessment
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    • v.33 no.4
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    • pp.155-163
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    • 2024
  • The purpose is to explore the meaning of the open space land use space pattern from the perspective of urban heat reduction using the land-use scenario. The employed methods are as follows: (1) to calculate the cooling capacity Index for each of five land use scenarios, using the InVEST Urban Cooling Model, (2) to calculate open space entropy & morphological spatial pattern for each land use scenario, using the Guidos Spatial Pattern Toolbox, and (3) to perform a Spearman rank correlation analysis between the InVEST and Guidos results. It is found that the rank correlation is moderate between the cooling capacity Index and the open space area ratio (rho=0.50). However, other relations are low. It is observed that only the total amount of open space is likely to have a meaning from the perspective of urban heat reduction, and that other open space location spatial patterns may not have much meaning from the perspective of urban thermal environment management.

The Study on Evaluating the Policy Value of Public Projects for Housing Welfare - Focused on the Remodeling Projects for Long Term Rental Housing - (장기공공임대주택의 리모델링을 통한 주거복지 정책사업의 가치평가에 관한 연구)

  • Cho, Yongkyung;Lee, Sangyoub
    • Korean Journal of Construction Engineering and Management
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    • v.15 no.5
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    • pp.82-93
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    • 2014
  • Long Term rental housing, which is supplied for performing housing welfare, has been aging from permanent rental housing. Therefore, variety housing welfare projects are planing and performing for improving aged facilities. However, although every welfare policy are necessary, we have to efficiently allocate and commit the funds, because the fund and resources is limited. And there is required the feasibility study before performing public project for housing welfare, because it needs large amount of financial supports by government. Meanwhile, because most of existed studies are focused on guide development, it has limitation to apply the result of existed studies in this study, which considers public remodeling project for housing welfare. But in reality, public project is been decided by willing of policy decision-maker. Therefore, in this study, we suggest the evaluation method of policy value for two alternatives(remodeling and maintain) of a aged long term rental housing. To extract the attributes of policy value, we considered categorized items of preliminary feasibility study. Through extracting attribute factors of policy value for aged long term rental housing, we can calculate the policy value of remodeling and maintain alternatives by using MAUT. As a result of analysis, we can find that the utility value of remodeling is 0.6161 and the utility value of maintain is 0.2461 and also the utility of remodeling is higher than utility of maintain. Therefore, when we plan the public projects for performing housing welfare, we can choose remodeling alternative rather than maintain alternative using quantitive data.

A Study on the Creation Proceed of Cartoon Market through Genre-mixed Knowledge-Cartoon (장르융합형 지식만화의 만화시장 창출과정에 관한 연구)

  • Lee, Yong-Hun
    • Cartoon and Animation Studies
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    • s.27
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    • pp.51-78
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    • 2012
  • The types of cartoon market are classified with publishing cartoon(a cartoon magazine & comics) and webtoon. The revitalization of the cartoon market makes cartoonist create many cartoons. By studying many methods for the revitalization of the cartoon market, this paper argues the expanded methods of comics market which is a sort of publishing cartoon market. The expanded methods of comics market are two kinds, one is the revitalization of the comics market and the other is the creation of the comics market. This paper focuses on Genre-mixed Knowledge-Cartoon in order to extend the cartoon market. Also, After studying the Creation Proceed of cartoon market through Genre-mixed Knowledge-Cartoon, we would like to develope the New Creation Model of Cartoon Market. We selected three case(the Real Estate Agency expressed as Cartoon, Let's find an answer in sided figure blank, miraculous English grammar) for this study. With this, we analyzed the case that the matters for analysis is the essential particulars of plan-publishing-distribution's proceed. As a result, we found out the possibility of new cartoon market's creation through Genre-mixed Knowledge-Cartoon. For that reason, we was able to develop 'the New Creation Model of Cartoon Market through Genre-mixed Knowledge-Cartoon'. This paper provides the possibility about the New Creation Model of Cartoon Market through Genre-mixed Knowledge-Cartoon. With this, we will make many plans for creation of Genre-mixed Knowledge-Cartoons. Therefore, This plans will help cartoonists to create the Genre-mixed cartoons.

An Empirical Study on Effect of Property Income on Income Inequality (부동산소득이 지역별 가구 소득불평등에 미치는 영향에 관한 실증연구)

  • Chun, Haejung
    • Journal of the Economic Geographical Society of Korea
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    • v.17 no.3
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    • pp.502-516
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    • 2014
  • This study has decomposed the Gini coefficient using Korean Labor & Income Panel Study data and empirically analyzed the impact of demographic characteristics and source-specific income of householder on the household income gap using panel analysis. The scope of areas were divided into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas,' and the period before and after the global financial crisis was examined. The analysis findings are as follows. First, when the entire period was examined by income source using Gini decomposition with division of areas into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas', the following results were revealed. The absolute and relative contribution level of property income to the gross income was the largest in the category of 'nationwide' and 'metropolitan areas,' while the contribution level of earned income was the largest in the category of 'non-metropolitan areas'. In addition, property income worsened the household income gap the most in the category of 'nationwide' and 'metropolitan areas.' Second, property income worsened the household income gap less after the financial crisis than before the crisis. It is probably because the price of real estate skyrocketed before the global financial crisis, worsening the household income gap, whereas the price drop after the crisis temporarily alleviated the gap. Third, a correlation analysis revealed that households with older householders whose education is high school graduation or below had relatively low gross income, and households with higher source-specific income, especially earned income, had relatively high gross income. Fourth, when the household income determinants were compared through panel analysis with division of areas into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas,' the following results were obtained. While the impact of earned income, financial income, and other incomes was greater in non-metropolitan areas than in metropolitan areas, the impact of property income was greater in metropolitan areas than in non-metropolitan areas. To reduce the income gap, the government should impose higher taxes on the high-income class and provide tax benefits to the low-income class, with efforts to create a wide variety of jobs. In addition, since income inequality gets worse as the proportion of incomes generated through asset holdings becomes higher, the government should focus on stabilizing property prices while paying attention to the regional differentiation when carrying out related policies.

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A Study on the Selection of the Joseon's Royal Placenta Chambers for Successive Registration in World Heritages Listings (조선 왕실 태실의 세계유산 등재 대상 선정에 대한 고찰)

  • LEE Jaewan
    • Korean Journal of Heritage: History & Science
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    • v.56 no.3
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    • pp.6-20
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    • 2023
  • The World Heritage Subcommittee of the Cultural Heritage Administration which examine The World Heritage Subcommittee of the Cultural Heritage Administration which The World Heri The World Heritage Subcommittee of the Cultural Heritage Administration which examined the Placenta Chamber of King Sejong's Princes applied for the world heritage priority list in 2020 recommended expanding it to the royal placenta chambers of Joseon distributed nationwide for successive registration instead of registering the Seongju placenta chamber only. On account of that, the issue of selecting items has become one of the important topics to be discussed in the registration of world heritages. Accordingly, this researcher investigated the subjects of successive registration based on such conditions as excellent universal value, heritage protection and management, authenticity, and completeness among the real estate cultural properties demanded by the UNESCO World Heritage Committee. First, 22 placenta chambers, the real estate cultural properties designated as cultural properties and protected and managed by the state and local governments, are subject to it. Second, it seems that placenta chambers that can be restored through research and historical investigation and become designated as cultural properties can additionally be added. Third, items such as the Seosamneung Royal Tombs built by Lee Wang-jik in the Japanese colonial era or Seongjong Placenta Chamber relocated as an example to realize the completeness of Joseon's Royal Placenta Chambers can be included as well. Meanwhile, many of the items designated as cultural properties are not in the original location, and they can be divided into those that were relocated for the intentions of the Japanese Empire and those that were not. Therefore, the researcher insists that it is necessary to select and add items with which we can understand the historicity in the relocation of placenta chambers during the Japanese colonial era and also to quickly designate those that have not been designated as cultural properties yet. Therefore, regardless of designation as cultural heritage, local governments must promote both restoration and designation and strive to include them in the list of successive registration of world heritages grounded on thorough historical investigation. Moreover, to add them to the list of successive registration of world heritages, the Cultural Heritage Administration and local governments should promote continuous research and genuine restoration of individual placenta chambers.

The Effect of Interest Rate Variability on Housing Prices (이자율 변동이 주택가격에 미치는 영향)

  • Han, Myung-hoon
    • Journal of Venture Innovation
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    • v.5 no.3
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    • pp.71-80
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    • 2022
  • The real estate market is an important part of a country's economy and plays a major role in economic growth through the growth of many related industries. Changes in interest rates affect asset prices and have a significant impact on housing prices. This study analyzed housing prices by dividing them into nationwide, local, and Seoul housing prices in order to analyze whether the effect of changes in interest rates on housing prices shows regional differences. The analysis was conducted from the first quarter of 2011 to the fourth quarter of 2021, and was analyzed using the DOLS model. The main analysis results are as follows. First, interest rates were found to have a significant negative effect on national housing prices, and a drop in interest rates significantly increased national housing prices and an increase in interest rates significantly lowered national housing prices. The consumer price index and loan growth rate also had a positive effect on housing prices nationwide, but statistical significance was not high. Second, interest rates had a negative effect on local housing prices, unlike national housing prices, but were not statistically significant. On the other hand, it was found that the consumer price index and loan growth rate had a larger and significant positive effect on local housing prices compared to national housing prices. Finally, it was found that the interest rate had the only significant negative effect on housing prices in Seoul. And this effect was greater and more significant than the effect on national and local housing prices. In the end, it was found that the effect of interest rates on Korean housing prices differs locally. Interest rates have a significant negative effect on national housing prices, and local housing prices, but they are not statistically significant. In addition, the interest rate was found to have the largest and most significant negative effect on housing prices in Seoul. In addition, it was found that there was a difference in the effect of macroeconomic variables on housing prices. This means that there are differences between regions with different factors influencing local and Seoul housing prices, and this point should be considered when drafting and implementing real estate policies.

A Study on the Sale Estimate Model of a Large-Scale Store in Korea (국내 대형점의 매출추정모델 설정 방안 연구)

  • Youn, Myoung-Kil;Kim, Jong-Jin;Park, Chul-Ju;Shim, Kyu-Yeol
    • Journal of Distribution Science
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    • v.11 no.12
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    • pp.5-11
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    • 2013
  • Purpose - The purpose of this study was to construct a turnover estimation model by investigating research by Park et al. (2006) on the market area of domestic distribution. The study investigated distribution by using a new tool for the turnover estimation technique. This study developed and discussed the turnover estimation technique of Park et al. (2006), applying it to a large-scale retailer in "D"city that was suitable for on-the-spot distribution. It constructed the new model in accordance with test procedures keeping to this retail business location, to apply its procedures to a specific situation and improve the turn over estimation process. Further, it investigated the analysis and procedures of existing turnover estimation cases to provide problems and alternatives for turnover estimation for a large-scale retailer in "D"city. Finally, it also discussed problems and scope for further research. Research design, data, and methodology - This study was conducted on the basis of "virtue" studies. In other words, it took into account the special quality of the structure of Korea's trade zones. The researcher sought to verify a sale estimate model for use in a distribution industry's location. The main purpose was to enable the sale estimate model (that is, the individual model's presentation) to be practically used in real situations in Korea by supplementing processes and variables. Results - The sale estimate model is constructed, first, by conducting a data survey of the general trading area. Second, staying within the city's census of company operating areas, the city's total consumption expenditure is derived by applying the large-scale store index. Third, the probability of shopping is investigated. Fourth, the scale of sales is estimated using the process of singularity. The correct details need to be verified for the model construction and the new model will need to be a distinct sale estimate model, with this being a special quality for business conditions. This will need to be a subsequent research task. Conclusions - The study investigated, tested, and supplemented the turnover estimation model of Park et al. (2006) in a market area in South Korea. Supplementation of some procedures and variables could provide a turnover estimation model in South Korea that would be an independent model. The turnover estimation model is applied, first, by undertaking an investigation of the market area. Second, a census of the intercity market area is carried out to estimate the total consumption of the specific city. Consumption is estimated by applying indexes of large-scale retailers. Third, an investigation is undertaken on the probability of shopping. Fourth, the scale of turnover is estimated. Further studies should investigate each department as well as direct and indirect variables. The turnover estimation model should be tested to construct new models depending on the type of region and business. In-depth and careful discussion by researchers is also needed. An upgraded turnover estimation model could be developed for Korea's on-the-spot distribution.

Determinants of Credit Default Swap Spreads: The Case of Korean Firms (한국 기업들의 신용부도스왑 스프레드에 대한 결정요인 분석)

  • Park, Yoon-S.;Kim, Han-Joon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.10
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    • pp.4359-4368
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    • 2011
  • Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

Application and Policy Direction of Blockchain in Logistics and Distribution Industry (물류 및 유통산업의 블록체인 활용과 정책 방향)

  • Kim, Ki-Heung;Shim, Jae-Hyun
    • The Journal of Industrial Distribution & Business
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    • v.9 no.6
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    • pp.77-85
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    • 2018
  • Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.