• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.5
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• pp.116-124
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• 2016

In the past, once apartments were built by housing construction companies, their presale went smoothly. Therefore, the developer and construction companies in Korea were extremely competitive in the housing market. However, when the 1997 foreign exchange crisis and 2008 global financial crisis occurred, the quantity of unsold new housing stocks rapidly increased, which caused construction companies to experience a serious liquidity crisis. This paper aims at analyzing the influence of Liquidity on the Housing Market before and after Macroeconomic Fluctuations using VECM. The periods from September 2001 to September 2008 and from October 2008 to October 2015, which were before and after the Subprime financial crisis, were set as Models 1 and 2, respectively. The results are as follows. First, it is important to develop a long-term policy for the housing transaction market to improve household incomes. Second, due to the shortage in the supply of jeonse housing, structural changes in the housing market have appeared. Thus, it is necessary to seek political measures to minimize the impact of transitional changes on the market.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.39-48
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• 2016

According to the order receipt report over the past 10 years the overseas construction business total trades were 54.05% and 68.09% done by the Middle East and other industrial facilities respectively. In the Middle East based on data collected in 2014 the country with most overseas construction business is Saudi Arabia with 34.10%, and the industrial facility occupies the larger share with 56%. Overseas construction business is suffering from a reduction in work orders in the Middle East because of the recent oil price reduction. At this point of view, it is necessary to consider economy fluctuation for the diversification of construction type and work orders. This study analyzed, focusing in Saudi Arabia how the economical fluctuations of nations of progress can affect overseas construction business' trade orders. The analysis results demonstrated that most construction types depends on GDP, investment fund. Also industrial facility can be substituted with Architecture and civil engineering. This work is expected to be used as a basis for trade order amount maintenance and construction type diversification.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.2
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• pp.440-447
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• 2020

The purpose of this study is to identify the causation and variation among the various types of onion prices in the major production sites to predict these prices. The Granger causal relationship was tested on the basis of VECM by setting the onion price of the early, middle, and late species as individual variables. The analysis shows that the amount of onions produced in the prior term affects the price of onions for the later period, while garlic in the substitution relationship with onions also affects the prices of onions for the early and middle-variety. On the other hand, the price of the late-variety is affected by the price of the early-variety, and the price of the middle-variety is also affected by the price of the early-variety. If the price of onions on Jeju changes due to other factors, the prices of onions in Jeollanam-do and Gyeongsangnam-do provinces will be affected. Accordingly, when the production of late-variety increases or decreases in production under any factor and to promote stability of the prices of middle and late-variety through preemptive supply and demand measures when the prices of ultra-breed onions rise or fall due to any factor (Ed- I cannot understand this last sentence and cannot guess at the correct meaning. Please try to rewrite very simply).

• Journal of Energy Engineering
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• v.29 no.1
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• pp.1-12
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• 2020

The rapid climate change is strengthening carbon emissions regulations internationally. Korea is strongly pressed to accept the obligation to reduce greenhouse gases as one of the United Nations Framework Convention on Climate Change. This article analyzed the Granger causalities among environmental regulation, economic growth, electricity consumption, and CO₂ emission in Korea, using unit root test, cointegration test, and vector error correction model. As the results, environmental regulation has shown the bidirectional causalities with electricity consumption and CO₂ emission, while being unilaterally affected by economic growth in the long-run and strong relationship. Economic growth has affected electricity consumption, CO2 emission, and environmental regulation in the long-run, in the complex structure of the unilateral and short-run causality with electricity consumption and the bidirectional causality with CO2 emission. The policy implications will be as follows: ① environmental regulation should induce sustainable growth through encouraging technological innovation relating to CO2 reduction and productivity enhancement. ② Responding to the international CO2 reduction regulation, the synthetic policy initiatives will be considered to make synergy effects among policies relating to economic growth, electricity consumption.