• Korea Real Estate Review
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• v.27 no.4
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• pp.51-61
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• 2017

The purpose of this study is to find out the implications for the activation of the real estate industry by comparing the structure of production and distribution, as well as the industrial linkage, of Korean real estate industry with that of the US through an input-output analysis. This study employed the World Input-Output Database (WIOD) provided by the EU in 2016. The results are as follows. First, while the share of the Korean real estate industry in the national economy has been steadily decreasing since the year 2000, the real estate industry of the United States is increasing. Second, both Korean and US real estate businesses have higher value added rates than the industry average, but the intermediate demand rate is lower than the industry average. Furthermore, the intermediate input rate and intermediate demand rate of the Korean real estate industry were lower than that of the US. Third, the change in the final demand for the Korean real estate industry has a lower production and value added effect on the national economy than that of the United States. Fourth, the industrial linkage of the US real estate industry is larger and broader than that of Korea. Finally, it is suggested that a policy to increase the industrial linkage of real estate industry with high value-added industries is needed in order to revitalize Korea's real estate industry.

• Asia-Pacific Journal of Business
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• v.11 no.2
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• pp.27-43
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• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.299-310
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• 2007

When it comes to construction, the UAE leads the way. The UAE's construction industry is valued at US$ 221 billion (about AED 811.73 billion) - the highest in the region. The construction boom has caused a shortage of both manpower and materials, leading to rise in input prices not only in UAE but in the entire region. The prices of materials have reportedly increased more than manpower. Consequently, there has been an escalation in project costs, which have increased by 10-20 per cent since last three years. This paper examines the opportunities and challenges faced by the developers, consultants, contractors and suppliers due to the construction boom at UAE for the last five years. The paper summarizes that inspite of challenges faced, UAE expects the construction and real estate sectors to remain upbeat for the next ten years.

• Korean Journal of Construction Engineering and Management
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• v.19 no.1
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• pp.90-102
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• 2018

In preparation of the increase in the domestic debts and the rise in the US interest rate, the Korean government has started to strengthen the regulation on the property market since 2017. So, it is likely that the sales in the domestic construction market would be decreased. Even in the overseas plant projects market, as there has been the continuous increase in the cost and the resulting increase in the losses, it looks hard for the large construction companies to keep their credit ratings as they are now. This study is designed to check Korean government's property policy and any possible problems caused by the overseas and domestic economic environment, which include the property market policy, interest rate, rise in the property price and lackluster sales in housing market. It showed the change in the credit ratings by finding out the sales, work capability, sales in non-governmental projects, operating profits and PF contingency liabilities. For this study, the questionnaires were sent to 30 practical experts to analyze the effect of the risk factor on the outside credit rating of large construction companies.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.4
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• pp.782-798
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• 2016

This paper discusses the European Union's smart specialization strategy and US manufacturing renaissance policy and then proposes new directions for regional industrial policy in Korea. The smart specialization strategy is summarized as the entrepreneurial self-discovery and strategic coordination; the manufacturing renaissance policy as the construction of industrial commons based on ecosystem; and Korea's regional industrial policy as the build-up of regional innovation system based upon industrial clusters. The policy cases of the EU and the United States demonstrate the fact that regional industrial policy should be geographically embedded. Also, they show the relevance of policy mix by linking industrial policy with innovation policy for cross-fertilization between different industry and technology. In addition, the state plays a role as a coordinator and mediator by embedding the democratic discipline into industrial ecosystems. Considering these points, regional industrial policy should be transformed into a platform system that can facilitate linkage between industry and technology.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.3
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• pp.491-511
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• 2016

This paper attempts to understand the nature and dynamics of global value chains in the auto industry using the OECD TiVA 2015 edition on the bilateral foreign value added in exports over the period 1995-2011 and employing the techniques of social network analysis such as the computation of network measures and visualization of value added trade flows. It is shown that there has been a tendency towards increasing production fragmentation both within and across regions. The automotive value-added network is found to have small-world properties with a hierarchical, clustered and dense structure. The differences among the US, Germany and China as major suppliers of foreign value added in global automotive value chains are remarkably revealed. Although the fragmentation of production has been developed on a global scale, a dichotomous tension between center and periphery and domestic and foreign capital lies behind it.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1577-1605
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• 2018

This study analyzes China's technology billionaires. However, this study does not show the accumulating process of wealth in each of the Chinese billionaires, because there are many technology billionaires, but only deals with the macro analysis of the technology billionaire; the pattern of existence, comparison with other industries, the process of wealth creation reflecting China's particularity, and comparison with the world's technology billionaires. The findings of this study are as follows. First, more than 10 billion yuan of Chinese billionaires will emerge from 2004. Second, in the early days, illegal and corruption made rich, but the wealth of own efforts has gradually increased. Third, the real estate and manufacturing billionaires are still strong overall, but the growth of billionaires in technology, medicine and finance industry is remarkable. Fourth, in the case of the top 10 richest, four are from real estate, four from technology, and two from manufacturing and distribution. Most technology billionaires are in Guangdong, Zhejiang, Beijing and Shanghai. The determinants of the number of billionaires are GDP, exchange rate to US Dollar and Shenzen Stock Index, and those of technology billionaire are GDP and exchange rate. Given the relationship with existing theories, this study can be called the fifth type of billionaire research. Conceptually, the main reason for accumulating wealth is the search for policy opportunities, market opportunities and technology opportunities.