• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.51-60
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• 2024

Purpose: The purpose of this study was to analyze the factors influencing the housing satisfaction of the new middle-aged who returned to farming to derive the implications of real estate policies to resolve regional imbalances. Research design, data and methodology: As a result, this study used secondary data, housing survey data, and identified factors influencing housing satisfaction through multiple regression analysis as well as basic analysis such as exploratory factor analysis, reliability analysis, technical statistics analysis, and correlation analysis. Previous studies, in particular, mainly focused on aging, retirement, economic activity, and retirement preparation, but this study was able to derive predictive factors that can increase the persistence of living after returning to farming by analyzing housing satisfaction for the new middle-aged, and as a result, suggest implications for resolving regional imbalances. Results: As a result of the analysis, it was found that housing structure status had the greatest influence among the three factors of housing-related predictors: housing structure status, facility accessibility, and surrounding environment, suggesting that policy alternatives that can improve the quality of the housing structure itself should be prepared rather than facility accessibility and the surrounding environment. Conclusions: Based on these results, we discussed implications for improving the housing structure to increase the continuity of living for the new middle-aged after returning to farming, and presented follow-up research directions on the need for complementary research in addition to individual analysis of influencing factors, limitations of secondary data, and the lighting of research on the new middle-aged and other generations who did not return to farming.

• Journal of Families and Better Life
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• v.23 no.6 s.78
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• pp.145-153
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• 2005

The purpose of this study was to analyze the impacts of consumers' demographic characteristics on their involvement in retired communities, under the assumption that consumers' involvement in retired communities would be a preceding factor of the consumers' preferences for retired communities. One of the major findings of this study was that there were statistically significant differences in the involvement in retired communities by several demographic variables such as age, gender, level of education, income, total family asset, consumer values, and pursuit of happiness. Second, such involvement was strongly correlated with consumer preferences. Third, the community management styles, such as sales and rental conditions, significantly influenced consumers' level of preference. The results from this study could provide useful information not only for understanding the residents of retired communities, buffer enhancing the welfare of residents of retired communities.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.314-318
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• 2008

퇴직연금에서 DB(defined benefit, 확정급여형) 플랜 가입자는 은퇴 이후의 급여가 확정되는 반면, DC(defined contribution, 확정기여형) 플랜 가입자는 납입금액만 확정될 뿐미래의 급여는 보장되지 않는다. 따라서 DC 플랜 가입자는 가입기간 동안 적절한 투자전략을 통하여 연금자산이 최대로 성장할 수 있도록 노력해야 한다. 그러나 자산가격은 시장 위험에 노출되어 있기 때문에 자산배분은 퇴직시점에 접근할수록 안전자산 위주로 전환되어야 한다. 라이프사이클 자산배분모형과 라이프사이클포트폴리오는 최신의 운용기법으로 그 유용성을 인정받고 있지만, 기계적이고 직관적인 방법으로 인하여 이론적인 근거에 취약성을 가지고 있다. 본 연구에서는 DC 플랜 가입자의 안정적인 자산관리를 위한 라이프사이클을 고려한 자산배분모형을 제시하고자 한다. 시뮬레이션 최적화 방법을 활용한 자산배분의 경우, 채권의 비중은 주식의 누적수익률 열세와 변동성으로 인하여 비조건부 자산배분과 주식에 대한 최저 투자비중을 고려한 조건부 자산배분에서 우세하게 나타나고 있다. 그러나 두 자산배분모형의 성과는 장기적으로 차이를 보이다가 기간이 축소되면서 차이가 크게 줄어드는 것으로 분석되었다.

• Journal of Family Resource Management and Policy Review
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• v.12 no.2
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• pp.57-72
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• 2008

The propose of this study is to examine the economic stresses and coping strategies for elderly households depending on the variables of background, and to analyze the relations between these factors. Elderly households which satisfied the following criteria were recruited for participation: (a) reside in Seoul, or in the metropolitan area (b) live apart from their adult children after retirement and (c) ages over sixty. From September 20th, 2006 to November 30th, 2006, 296 were used for this research. First, the mean score of the economic stress level of elderly households was 2.87 out of 5, and the stress levels of income expenditure and asset debt were intermediate. The mean score of the economic coping strategy was 3.17 out of 5. In order to overcome economic stress, elderly households utilized reducing their expenditure, financial management, and re-employment. The level of elderly households' life satisfaction was 3.29 of 5 and the depression was 3.17 of 5. Second, there was a difference in accordance with the objective economic variables and the degree of the economic stress after the review of the variables of the elderly households and the coping strategy due to economic stress. The result shows that the households which had a low economic status and high economic stress from the objective viewpoint participated in more economic activities. Their reactions were to decrease the overall expenditure through reducing the expenditure rather than to manage the asset effectively through re-employment or to inaugurating a business. Third, I analyzed situational factors, economic stress, and economic coping strategy in order to compare relative contributors to psychological well-being through using regression. At the third phase in the process of analysis, the socio-psychological factors appeared to be significant factors contributing to psychological well-being. Regarding the stress caused by income expenditure increased, when elderly households were more concerned about reducing expenditure and re-employment, their feelings of depression increased.

• International Area Studies Review
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• v.21 no.1
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• pp.221-243
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• 2017

In this study, I examine overall conditions and problems of personal asset management processes by the old age people in Korea from the global perspectives. Major recommended policy implications for those are as follows.. First, the IRR (income replacement ratio) of public pensions in Korea is found to rank nearly the lowest among the OECD member countries. The relatively low fund performance compared to that of developed countries as well as this low IRR can be pointed out as major problems of public pension in Korea. It is recommended to reinforce specialty in fund management as a top priority to solve out these problems related with public pensions in Korea. Second, it is needed to set retirement pensions to be mandatory for almost all the firms in Korea to substitute for the above lower IRR of public pensions and to recover from the highest elderly poverty ratio among the OECD countries. Third, it is required to discuss about the expansion of tax refund policy application in the individual pension sector and many financial investment products under the correction of current budget control to motivate voluntary subscription for individual pension planning and to stabilize elderly lives of ordinary people in Korea. Fourth, it is required to induce market mechanism in controling price and longevity risk of reverse mortgages for the long-run sustainability.

• 한국노년학
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• v.37 no.2
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• pp.349-368
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• 2017

The purpose of this study is to empirically structure the patterns of baby boomer retirees'consumption and their effects on depression in later life. Using the 5th wave of Korea Retirement and Income Study(KReIS) in 2013, of baby boomers born in 1955 to 1963, we analyzed those who were completely retired(n=420). The Latent Profile Analysis(LPA) classified the empirical patterns of consumption and then a multiple regression analyzed the effect of consumption patterns on depression among these baby boomer retirees. The LPA results showed that the consumption patterns consist of five groups: (1) Basic life-oriented class(26.9%), (2) Balanced consumption class(29.3%), (3) Social life-oriented class(18.3%), (4) Leisure-oriented class(18.5%), and (5) Education-oriented class(7.0%). Baby boomer retirees' depression was associated with their consumption patterns. Specifically, the basic life-oriented class showed significantly lower depression than the education-oriented class. Other correlates such as higher education, having no spouse, lower subjective health, greater limitations in physical functions, having a diagnosed disability, having fewer children, higher dissatisfaction with leisure activities, and lower self-perceived economic status were associated with higher levels of depression in this study. These findings suggest meaningful implications for gerontological policy and practice for baby boomer retirees in Korea. In light of vulnerable retirement preparation, social services specialized for baby boomers should consider financial education for revamping consumption scale beyond asset management and long-term case management of pre and post retirement cases.

• Survey Research
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• v.7 no.2
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• pp.97-122
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• 2006

Korean Longitudinal Study of Ageing(KLoSA)', launched in 2006, has developed a research network with 'Health and Retirement Study(HRS, US),' Studies on Health and Retirement in Europe(SHARE, EU),' and 'English Longitudinal Study of Ageing(ELSA, UK)'and tried to construct a mega data library. The KLoSA team has designed their research with focusing on the following three points, in order to use KLoSA for international comparative studies. First, KLoSA shares the key research areas such as family structure, health, employment, income, asset, subjective expectations with the comparable studies. Second, KLoSA team has developed the instrument to reflect the Korean culture and institutions. They considered the institutional characteristics in public pension and health care system and in employment practices. They also counted the cultural conventions in family life such as financial management and care exchange, Finally, KLoSA tries to capture the psychological characteristics of the Korean elderly by making the measurement scales more understandable.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.30 no.4
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• pp.170-181
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• 2007

The purpose of computing economic depreciation value is to find valuation of assets closely in line with market prices. The valuation of industrial assets are called Engineering Valuation. The two representative techniques for such valuation are Hulten-Wykoff Method, which estimates real value using regression equations, and T-factor Method devised at Iowa State University. The two are all empirical methods for computing service life (duration period). In this paper, we derived the service life by empirical methods using national wealth statistics, and also by more conventional methods such as original group method and retirement method. The results from each method are compared with one another. We also computed economic service life from these results. In S. Korea where amount of asset value statistics is still insufficient, the most effective method for empirically computing economic service life turns out to be the one using national wealth statistics. In addition, we also present economic relationship between depreciation value computed by using Hulten-Wykoff Method and depreciation value computed by using T-factor Method.

• Journal of Korea Society of Digital Industry and Information Management
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• v.15 no.4
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• pp.197-212
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• 2019

The purpose of this study is to identify the maturity stages of venture firms through classification analysis, which is widely used as a big data technique. Venture companies should develop a competitive advantage in the market. And the maturity stage of a company can be classified into five stages. I will analyze a difference in the growth stage of venture firms between the survey response and the statistical classification methods. The firm growth level distinguished five stages and was divided into the period of start-up and declines. A classification method of big data uses popularly k-mean cluster analysis, hierarchical cluster analysis, artificial neural network, and decision tree analysis. I used variables that asset increase, capital increase, sales increase, operating profit increase, R&D investment increase, operation period and retirement number. The research results, each big data analysis technique showed a large difference of samples sized in the group. In particular, the decision tree and neural networks' methods were classified as three groups rather than five groups. The groups size of all classification analysis was all different by the big data analysis methods. Furthermore, according to the variables' selection and the sample size may be dissimilar results. Also, each classed group showed a number of competitive differences. The research implication is that an analysts need to interpret statistics through management theory in order to interpret classification of big data results correctly. In addition, the choice of classification analysis should be determined by considering not only management theory but also practical experience. Finally, the growth of venture firms needs to be examined by time-series analysis and closely monitored by individual firms. And, future research will need to include significant variables of the company's maturity stages.

• Journal of Families and Better Life
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• v.26 no.3
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• pp.37-52
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• 2008

The purpose of this study was to provide the valid data about residential-linked pension insurance development. The development was a part of national housing projects, which was an incentive for rural living of retired people, in order to relieve residential issues of elderly and revitalize rural communities by residents moving from cities. The insuring intent, decisive insuring factors and the residential service demand degree of people preparing retirement were analyzed. Data was collected in October, 2007. 364 Sample Subjects lived in Seoul Metropolitan area. Firstly, more than 90% of respondents had intention to purchase a residential-linked pension insurance and about 50% of them necessarily desired receiving premium for moving in. This indicated that it could be developed as an insurance which helped to meet housing expenses by housing-linked system, and in the mean time, it met the original purpose of pension insurance as the pension benefit could be guaranteed for all the insurance subscribers. Secondly, the respondents, whose income and private assets were higher, were able to pay more for insurance compared to average. Therefore, It was necessary to regulate monthly insurance bill and the payment period according to asset states of insurance subscribers after establishing certain amount of total insurance payment. Thirdly, by and large, it indicated the tendency that the less they prepare for older age the later they wanted to move into the pension insurance residence. It was inferred that in the case of insufficient preparation for older age, people preferred preparing behind time by postponing move in to moving in early to enjoy retired life, due to uncertainties. lastly, the respondents understood the significance of health, medical treatment and emergency management service and these two services were preferred as essential provided services. Because of the necessity of developing residential-linked pension insurance was found to be positive, further research to find the real cost, directives for operation and institutional support for this type of pension insurance might be needed.