• Journal of Cadastre & Land InformatiX
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• v.44 no.2
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• pp.177-192
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• 2014

The factors that affect on the ratio of monthly rent to total rents in commercial real estate lease contract was empirically investigated. The theoretical basis for the research was location theory, retail trade-area analysis, bid rent, agglomeration theory, and demand externality theory. The data used in this study included information on goodwills per 3.3 square meters, deposit money per 3.3 square meters, retail rents per 3.3 square meters, and passing pedestrians' characteristics in 96 retail trade areas in South korea. As the results, using the hedonic price functions and multi-regression analysis, the independent variables does affect the ratio of monthly rent to total rents in the each retail trade area were goodwills per 3.3 square meters, deposit money per 3.3 square meters, retail rents per 3.3 square meters, and the number of Small Wholesale Retail Trade Firms at the level of nation. also, the results show goodwills per 3.3 square meters and the number of Small Wholesale Retail Trade Firms are important factors in determining the ratio of monthly rent to total rents in commercial real estate lease contract in seoul. In summary, not only the economic conditions in the retail trade area but also the passing pedestrian count should be considered to determine the ratio of monthly rent to total rents in commercial real estate lease contract.

• Journal of Cadastre & Land InformatiX
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• v.45 no.2
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• pp.217-235
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• 2015

The study has analyzed the determinants of retail rents for the franchised coffee shop with the Multi-Regression analysis in Seoul. Central place, agglomeration, and demand-externality theories provide the basis for empirical models. The data used in this study consisted of 2,000 retail units in Seoul. As the results, the results show that coffee shop of retail sales per $3.3m^2$ and characteristic of retail trade-areas, and characteristic of coffee shop affects on the coffee shop's rents per $3.3m^2$. Coffee Shop's sales are the major determinant of coffee shop's rents. Also, coffee shop's goodwill per $3.3m^2$ and rental bond per $3.3m^2$ are positively correlated with a coffee shop's rents. Additionally, number of wholesale company and manufacturers in the retail trade-areas influences coffee shop's rent per $3.3m^2$. In summary, the study shows that coffee shop's brand identity, location and retail mix in the retail trade areas affects a coffee shop's rent per $3.3m^2$.

• Journal of Cadastre & Land InformatiX
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• v.48 no.1
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• pp.229-244
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• 2018

The purpose of this study is to analyze the factors affecting the influence of the size and composition of the floating population on goodwill and Rent. First, the conceptual difference between location value and rent is clearly distinguished. Second, the value of land price is divided into fixed land value and floating land value. The empirical analysis utilized consulting data from 188 shops in Seocho and Gangnam-gu in 2013 ( restaurants, resting restaurants, drinking places, general stores, entertainment and sports). The results using linear regression analysis are as follows. Goodwill and rent have a positive correlation, but the evaluation system and factors are different. Especially the influence of the floating location factor is larger than the rent. And the fixed location factors such as building deterioration bus stops, were found to be significant influencing factors in the rents, but they did not affect goodwill. This result implies that the value of location of goodwill should be taken into consideration of a temporal and spatial concept. Since, in order to resolve disputes between the landlord and the tenant, it is necessary to accumulate data continuously and to study the objective evaluation system in the future.

• Journal of Cadastre & Land InformatiX
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• v.45 no.1
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• pp.225-240
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• 2015

The effect of passing pedestrians'characteristics on locational goodwill was empirically modeled and tested. The theoretical basis for the study was central place theory, bid rent and, agglomeration theory, and demand externality theory. The data included information on goodwill, retail rents and passing pedestrians' characteristics in 100 retail trade areas in Seoul. The empirical model was tested with the sample of 1,307 retail units in Seoul, South Korea. The data set was analyzed with the Classification and Regression Tree software. As the results, using the regression tree method, the variables does affect locational goodwill in the each retail trade area were the volume of pedestrians around 2:00 pm on weekdays, volume of pedestrians around 4:00 pm on weekdays, and volume of pedestrians around 8:00 pm on weekdays. In summary, not only the economic base in the retail trade area but also the volume of passing pedestrians should be considered to determine the locational goodwill.

• The Journal of the Korea Contents Association
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• v.19 no.2
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• pp.340-348
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• 2019

This study analyzes the factors that influence commercial gentrification in Seoul by using both logit model analysis and machine learning with data cumulated from 2015 to 2018 regarding 158 market areas. Logit analysis indicates that log(market area average monthly rent) and the ratio of the purchasing amount by customers aged 40 and younger to total sales in the restaurant and retail business category are statistically significant at 1%; the increase in sales per female customer aged between 30 and 39 in the restaurant and retail business category is statistically significant at 5%; and the increase in number of retailers with a business history of less than two years in the franchise business category is significant at 10%. Machine learning indicates that significant factors ordered by importance are the total retail area, the existence of an industrial complex within the market area, the existence of a traditional market within the market area, the location of subway stations within the market area, the increase of entertainment facilities such as movie theaters within the market area, average monthly rent, and the growth rate of average monthly rent. The contribution of this research is threefold. First, this study analyzes the entire commercial area of Seoul, Korea. Second, this study provides a foundation for future research on predictive indicators by empirically investigating the factors that influence commercial gentrification in Seoul. Lastly, this study introduces various methods of research by utilizing a machine learning approach.

• Journal of Cadastre & Land InformatiX
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• v.45 no.2
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• pp.191-201
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• 2015

There has been few researches on the variables that influence on goodwill of the store. The purpose of this study is to identify the determined variables which affect goodwill of the store in seoul empirically by examining the interaction between goodwill and risk sharing in the commercial lease contract. We have analyzed 1,463 retail unite of goodwill over August, 2015. A regression analysis model is constructed to test the significance of the variables on the goodwill per $m^2$ in Seoul. The results indicate that rent to total start-up cost of ratio and retail property characteristics variables explain a significant portion of the variability of goodwill. The results suggest that retail rents is comparatively more important than size of store. The study suggests that monthly rents to total start-up cost of ratio is the key variable affecting the goodwill of the store.

• Journal of the Korean Data and Information Science Society
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• v.27 no.6
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• pp.1443-1452
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• 2016

In this paper, we study a sample design for survey on goodwill in retail properties to provide a protecting policy for small traders and tenants, to use basic data for a dispute case related to goodwill. Since goodwill in retail properties is occurred by individual rent company, we use the census on establishments from the Statistics Korea as population. First of all, we consider preferentially seven metropolitan cities in which there are more than half of population. Total sample size is decided as 8,000. We allocate the sample size for markets as stratum in each city using proportional formula and the sample size for industrial classifications in each market using root proportional formula. Also we compute survey weights and calculate estimators, standard errors and interval of estimators for each characteristic such as type of establishments and market in seven metropolitan cities.

• Journal of Cadastre & Land InformatiX
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• v.44 no.1
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• pp.213-226
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• 2014

The objective of this paper is to investigate the factors determining the premium of coffee shops by using coffee-shop lease cases at main retail trade areas in Seoul. The focus is on analyzing that the coffee-shops' the sales, building, location and retail trade area characteristics affects the coffee shop's premium. The major findings are as follows. First, there is a high positive correlation between the premium and the sales, and the sales and the size of the shop are shown to be statistically significant variables in estimating the premium per $3.3m^2$. It means that the shop's sale is empirically important an independent variable in determining the premium and as the major costs in the process of starting the business. Second, the deposit money per $3.3m^2$ and public service officers in the retail areas are important in determining the premium. Third, the size of the shop have the effects on the premium per $3.3m^2$ negatively. In short, this study adopts the research hypothesis that retail trade area, location, building of the characteristics, which is located in the coffee shops have the effects on the premium.

• Journal of Cadastre & Land InformatiX
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• v.48 no.1
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• pp.245-253
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• 2018

The purpose of this study is to find the factors affecting the location of a Starbucks coffee shop by using multiple regression analysis. This study is based on location theory and the data for this analysis was collected from 522 retail real estate leases in Seoul. The results of the study are as follows. First, the most important factors affecting the location of a Starbucks coffee shop are monthly rent, deposit money, and goodwill value. Second, the number of firms & employees, local economic base, location characteristics, goodwill value, the deposit money, and monthly rents affect on the location of a Starbucks coffee shop in Seoul. Third, the result shows that deposit money, monthly rents, goodwill value, and numbers of business firms are important in the process of selecting the coffee shop location.

• Journal of the Korea Fashion and Costume Design Association
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• v.5 no.2
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• pp.31-46
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• 2003

The purpose of this study was to explore the ways of improving Korean apparel firms' competitiveness by examining the Korea's number one trading partner U.S. apparel industry. Especially, the Los Angeles area apparel industry which is the second largest and the primary market center on the west coast was analysed. The following strategies are suggested to Korean apparel firms to function more effectively in incleasingly competitive U.S. markets: l)Basics can be produced in lower wage countries meanwhile quick turnaround and high quality works can be produced either in Korea or U.S. 2)Manufacturers might try to have direct relationship with powerful retailers who have their own private labels of store-brand lines. 3)Apparel companies can open market showrooms in the California Market Center. For small firms they can contact with independent representatives who receive commissions for showing lines for manufacturers or rent space for showing the lines during market weeks. 4)Apparel firms can contact buying offices to introduce their products to retail buyers. 5)Korean firms can contact Korean-American apparel firms to gain easy access to U.S.Market.