• Journal of the Korean Operations Research and Management Science Society
• /
• v.39 no.4
• /
• pp.153-165
• /
• 2014

We present a new framework for rental capacity management in which rental capacity is dynamically managed by means of temporary inventory addition/return. While serving customers with its own (native) capacity, the rental firm rents additional rental capacity from an upper echelon rental company so that it can avoid lost sales which may occur when stock is not sufficient, and returns it when stock becomes sufficiently large enough to cope with demands. Formulating the model as a Markov decision process, we investigate a flexible capacity addition/return policy that maximizes the firm's profit with respect to system costs. Numerical study indicates that rental operation with capacity addition/return can be economically favorable over rental operation without capacity expansion/return and can contribute the reduction in the size of native rental capacity.

• The Journal of Economics, Marketing and Management
• /
• v.10 no.5
• /
• pp.7-14
• /
• 2022

Purpose: This study discusses efficient operation plans in terms of public rental housing maintenance in terms of LH, a major supplier. Research design, data, and methodology: After reviewing problems related to the maintenance and management of public rental housing discussed in several previous studies, problems in technology setting for repair maintenance costs for public rental housing, lack of public assistance for maintenance and management of public rental housing, management of housing funds, and lack of role of local governments in the supply and repair of public rental housing were derived. Based on this, the researcher conducted using literature research methods to present relevant improvement measures based on reasonable arguments. Results: this study presented four operational plans related to (1) realization of repair costs for public rental housing, (2) a public subsidy system for covering the maintenance costs for public rental housing, (3) efficient operation of the Housing City Fund, and (4) establishment of the public rental housing. This study aims to provide a foundation for the qualitative growth of the domestic public rental housing system. Conclusions: With this study, it is expected that social interest in maintenance of public rental housing centered on LH will be amplified to improve the quality of maintenance problems of public rental housing.

• Journal of agriculture & life science
• /
• v.44 no.6
• /
• pp.191-199
• /
• 2010

How to determine rental rates of agricultural machinery operation is the most important factor for economic units which are consigned to practice agricultural operations. Economic units as consigner for agricultural operations include agricultural cooperatives, local government, and farm operators, and so on. Thus the methods to set a rental rate of agricultural machinery operation are different across these economic units. This study describes benefits and problems associated with the model of cost accounting which is used as a method to determine a rental rate of agricultural machinery operation, and suggests a theoretical desirability of the rental pricing method, based on an accounting system and information on costs.

• Journal of Korean Society of Rural Planning
• /
• v.22 no.4
• /
• pp.61-69
• /
• 2016

In order to reduce the farmers' burden of purchasing agricultural machinery and address the shortage of farm workers, the government have been promoting agricultural machinery rental service since 2003. Despite of political purpose, the outcome of agricultural machinery rental service turned out to be adverse, high cost and low efficiency, by the pork barrel projects operated from some municipalities. Therefore, this study was aimed to improve the efficiency of agricultural machinery rental service by analyzing the operation status of agricultural machinery in local government. A questionnaire survey was conducted at 134 cities and counties in terms of rent type, management personnel, business budget, agricultural machinery ownership, rental performance, use rates, operational problems, and improvement plan. This study found that some agricultural machinery rental offices were only focused on the short-term rental service, which caused the increasing number of operating personnel, required facilities/equipment. The short-term rental service has a limitation for promoting the mechanization rate in dry-field farming. Therefore, it should be carried out along with the long-term rental service which a lessee maintains and manages agricultural machinery directly. Furthermore, the reasonable number of agricultural machinery based on regional circumstances should be considered to meet rental demand and collect the minimal rental fee for purchasing new agricultural machinery and replacing old ones.

• Korean Journal of Agricultural Science
• /
• v.39 no.2
• /
• pp.279-289
• /
• 2012

This study was conducted to survey and diagnose operation status of the agricultural machinery rental service, analyse and compare operational efficiency among 82 city and county ATDEC (agricultural technology development and extension center) using the DEA (Data Envelopment Analysis) method, and recommend future direction, for improvement of the business. Input variables were invested budget and labor, and output variable was rental return. Percentages of return to investment on the rental service were calculated as 68.3% and 63.9% when analyzed with CCR (Charnes, Cooper and Rhodes) and BCC (Banker, Charnes and Cooper) models, respectively, indicating inefficiency of the service operation. Increase of rental charge would increase efficiency by 63.9~68.3% depending on models, and decrease of financial and labor investment would improve the efficiency by about 11.3%. Technical efficiency would be more important than scale efficiency, therefore adjustment of over-invested budget and labor needed to be made together with increase of rental charge to improve the operation. Among the ATDECs providing the rental service, 6 (7.3%), 43 (52.4%), and 33 (40.2%) were in state of CRS (constant return to scale), IRS (increasing return to scale), and DRS (decreasing return to scale), respectively. These indicated public aspects of the rental system, over-investment, lack of output component for input component, meaning that scale income would be increased by qualitative expand of rental charge. Efficiency analysis of the rental system by region showed that efficient ATDECs to be benchmarked by others were in the order of DMU-70, DMU-54, DMU-29, DMU-5, DMU-22, DMU-2, and DMU-61. More comprehensive and extensive survey and analyses would be necessary in the future.

• Journal of the Korean housing association
• /
• v.24 no.3
• /
• pp.55-64
• /
• 2013

The purpose of the study was to make an improvement of residential management regulations so that the inhabitants of rental housing can manage their housing in efficient and transparent manners by comparing and analyzing in standard management rules of rental housing. The research method were as follows: 1) The analysis framework utilized result of preceding research composed 6 types of management works and 36 items of subcategories by researcher 2) The standard management rules of rental housing used analysis utilized to draw up after a revision of Rental Housing Act in 2000 and to operate in management of rental housing now. 3) The analysis method used content analysis. The management rules of rental housing utilized a total of 5 rules such as management rules of SH corporation (2011), LH corporation (2000), peoples' solidarity for participatory democracy (2000), Citizens' Alliance (2000) and Gyeonggi-do (2001). The research result were as follows: 1) Overall, the management rules of rental housing included faithfully works of operation management and administration management 2) The type of operation management regulated centrally items related resident committee. and The type of administration management regulated centrally items related accounting management. 3) The management rules of SH corporation and LH corporation regulated centrally operation management, maintenance management and etiquette for the basic living as compared with the other rules.

• Land and Housing Review
• /
• v.2 no.4
• /
• pp.345-353
• /
• 2011

This paper is focused on the sustainability of public rental housing policy. We have analyzed the general fiscal conditions of central government, the public welfare fiscal conditions, the public expenditure on rental housing, and the Korea Land & Housing Corporation (LH) financial structure. Central government fiscal conditions is controlled by the midium-term fiscal operation plan(2010~2014) and fiscal rules. And the fiscal mandatory expenditures on welfare is increased rapidly by the expansion of beneficiaries, but the fiscal discretionary expenditures particularly on public rental housing can be gradually cut down. LH, the dominant agency responsible for affordable housing, is now confronted with financial distress accruing to excessive burden for public rental housing construction. As a result this paper, we find the discrepancy between the fiscal conditons and public rental housing policies. We suggest the fiscally sustainable rental housing policy. Firstly, the construction plan should be realized reflecting the market and fiscal conditions. Secondly, the provsion and financing system of rental housing should be rebuild within the government fiscal condtions and financial ability of LH.

• Korean Journal of Agricultural Science
• /
• v.40 no.4
• /
• pp.385-394
• /
• 2013

Short-term agricultural machinery rental system has been operated by agricultural extension organization of local government (agricultural technology center) and sponsored by Ministry of Agriculture, Food, and Rural Affairs, to improve utilization efficiency and save agricultural production cost through joint utilization of agricultural machinery. This study was conducted to analyze current status of the rental system operation and provide recommendations for future direction. Question survey was conducted for officers in charge of the rental system in the technology center, and strategic improvement was suggested through importance performance analysis (IPA). Survey results showed that 11 issues should be reformed or improved by 2015, which is not practically feasible. IPA analysis resulted that administration and manpower support, cooperation between federal and local organizations, and cooperation with other organizations should be focused for successful operation of the rental system. Issues that seem to happen after 2015 need to be handled as future research.

• Journal of the Economic Geographical Society of Korea
• /
• v.22 no.1
• /
• pp.36-51
• /
• 2019

The purpose of this study is to elucidate the implications for the effective use of rental housing REITs in Korea by analyzing the characteristics of rental housing REITs in Japan, focusing on the operation and asset management of rental housing REITs. The main results of the study are as follows. In the case of Japan, rental housing REITs are invested and operated by profit-based private companies, and are activated with small rental housing in the city center as a niche market. In particular, it has secured the reliability, expertise and permanence of REITs by utilizing the sponsored REITs structure. This is possible because Japan has infrastructure for the supply and operation of corporate rental housing. Based on these analyses, ways to revitalize private investment, and ways to utilize sponsored REITs to enhance REITs' credibility were derived. for the effective use of domestic rental housing REITs.

• Journal of Families and Better Life
• /
• v.25 no.5
• /
• pp.185-197
• /
• 2007

Permanent rental housing which is entirely financed by the Government is welfare housing for those who fall within the lowest income bracket. This type of housing is intended for use as rental housing on a long-term basis. At present, there are about 190,000 permanent rental housing units in Korea. The purpose of this study is to suggest the implications to improve the management and welfare service system of permanent rental housing. For this, qualitative data were collected by using the in-depth interview with staffs of community welfare center and management office of five permanent rental housing complexes and two times of advisory committee meeting with housing and social welfare experts. To analyze the data gathered in this study, the constant comparative method of data analysis was used. Conflicts between the management office and social welfare center of permanent rental housing could be classified into two aspects; personal and operational. Main reasons for the conflicts between two institutions were identified such as attitude of management office staffs, lack of cooperation, current administrative system, lack of management resources such as space and operation cost, and so on. Based on the results, some implications including institutional support and social complementary cooperation were suggested for improvement of management and welfare service system for the residents of permanent rental housing.