• Journal of Cadastre & Land InformatiX
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• v.45 no.1
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• pp.75-97
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• 2015

Recently public institutions' debt is growing therefore it became an important issue to the level that the government concerns about the possibility of financial burden to reduce the debt. Especially debt of public enterprises in metropolitan areas was in a serious state where debt in late 2013 was 43.2 trillion, which takes approx. 58.4% of 73.9 trillion of debt of all local public enterprises. Sound financial state of local public enterprises is important to public enterprises in metropolitan areas and it may affect seriously financial stability of local governments when public enterprises have financial problems. However, land supply business to form local industrial complexes or local demand for development of public rental housing business always exist; and vitalizing local economy and creating jobs through these businesses are very necessary to develop the areas. However, for local economic development, industirial land business and public rental housing business are needed. In this study, Gwangju Metropolitan City Corporation Ltd is used as a case study to evaluate the local public financial soundness via debt management assessment i.e.(using) the feasibility analysis in the urban development and housing development. As an improvement measure following the result of analysis, for the enhancement of financial soundness of urban innovation corporation, the government and local government shall evaluate and differentiate market demand, price competitiveness, and infrastructure of new town land development project to improve accuracy of project feasibility analysis. Another important insight is that there should be local government-centered management of liabilities of the local government and local public enterprises with the integrated liability management system to reduce the liability of the corporation and solve the issue of debts for local government. This study is significant in that it has analyzed cases from the theoretical aspect to secure financial soundness of national and local public enterprises.

• Land and Housing Review
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• v.11 no.1
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• pp.79-86
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• 2020

The number of business closure is one of key indicators diagnosing the status of local economy. The increases in closure are attributed to various endogenous/exogenous factors such as decreases in sales of stores, decline of local market, deterioration of global financial condition, but it is not trivial task to figure out the cause and effect mechanism among variables. The effects of those factors are expected to show geographical variations, which the empirical analysis results in this study presented. As such, the objective of this study is to estimate the effects of variables on increase in the number of business closure and examine the distributional properties of the geographic variations of the effects among spatial units of analysis. To this end, GWR (Geographically Weighted Regression) model was utilized to draw empirical analysis outcomes. It is expected that the outcomes of the sort in this research may be useful in aiding decision-making process of drafting locality-specific policies and/or deciding where to prioritize the limited public resources available.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.263-264
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• 2023

After January 2023, as part of the plan to realize housing stability for the people, the weights for each field of reconstruction safety diagnosis have been adjusted. Among them, the weight of the residential environment sector has been raised from 15% to 30%, so that it occupies a high proportion. The adequacy review will also be partially implemented if requested by the local government. Therefore, it is also required to improve the existing reconstruction safety diagnosis manual for rational review. In this study, we intend to examine the problems and points to be improved through the review cases from the introduction of the system to the present. Through this, it is intended to be used as basic data to approach changes in demand for reconstruction and future trends in the future housing market.

• Land and Housing Review
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• v.14 no.2
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• pp.51-71
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• 2023

Based on the challenges encountered in the urban regeneration projects (general neighborhood-type) of Anjung District and Sinjang District in Pyeongtaek City, this study aims to explore the key factors of improvement measures for urban regeneration projects. Using the first survey conducted among shopping mall owners, employees, and residents, this study finds a significant level of awareness and very strong needs for urban regeneration projects. On the other hand, the overall satisfaction levels are observed to be low across the three factors: social, economic, and cultural. The second expert survey and the subsequent Analytic Hierarchy Process (AHP) analysis conducted for improvement measures reveal notable discrepancies in the prioritization of factors between administrative experts and practical experts. For the importance of administrative experts, the establishment of network-type regional governance was ranked first for the importance, followed by hosting events related to the U.S. military and long-term pre-market operations, and expanding exchange and cooperation between the U.S. Forces Korea and the community. For the importance of working-level experts, hosting U.S. military-related events and long-term pre-market operations was ranked first, while supporting U.S. military-related festivals and developing local natural landscape resources was ranked second. Our findings suggest the need for proactive measures such as attracting commercial facilities to stimulate demand from both the U.S. military and local residents, thereby revitalizing general neighborhood-type urban regeneration projects, developing programs for local tourism, and operating pre-market operations in the long run. Therefore, this study highlights the importance of regional government cooperation for urban regeneration projects.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.4
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• pp.585-600
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• 2012

The purpose of this study related to the liquidity impact of the housing market variables using vector auto-regressive model(VAR) and empirical analysis is to derive some policy implications. October 2003 until May 2012 using monthly data for liquidity variables mortgage rates, mortgage, financial liquidity, as the composite index and nation, Seoul, Gangnam, Gangbuk, the Apartment sales prices were analyzed. Granger Causality Test Results, mortgage rates and mortgage at a bargain price two regions had a strong causal relationship. Since the impulse response analysis, Geothermal difference there, but housing price housing price itself, the most significant ongoing positive (+) reactions were liquidity-related variables are mortgage loans is large and persistent positive (+), financial liquidity weakly positive (+), mortgage interest rates are negative (-), KOSPI, the negative (-) reacted. Liquidity and housing prices that the rise can be and Gangnam in Gangbuk is greater than the factor that housing investment was confirmed empirically. Government to consider the current economic situation, while maintaining low interest rates and liquidity of the market rather than the real estate industry must ensure that activities can be embedded and local enforcement policies should be differentiated according to the policy will be able to reap significant effect.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.285-289
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• 2011

he purpose of this study is to assess the effects of real estate policy on apartment price index in Seoul. To meet the research goal, this research reviewed real estate policy of the government from January of 1986 to August of 2010, and then it collected monthly apartment price index in 25 local districts of Seoul from January of 2003 to August of 2010. After 25 districts were grouped into 2 areas (14 districts in Gangnam and 11 districts in Gangbuk), the data of two areas were analyzed by using the SAS program, Cluster analysis with Ward method showed 3 clusters on each area, and with 6 clusters in total, the effects of real estate policy in the period were examined by using residual analysis. The analysis indicated two major shocks (one was from May to October of 2003, and the other was from March of 2006 to January of 2007), and the results showed that the intervention of government in the market had the asymmetric effects in bullish and bearish times. It implies that the market volatility is substantially influenced by irrational sentiments. Thus, it's suggested to devise the consumer sentiment index suitable in real estate market.

• Journal of the Korean housing association
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• v.23 no.6
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• pp.49-59
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• 2012

This study suggested a new model in consideration of long life and constructability of apartment house suggested in the former part. New model suggested the possibility of cost saving based on the idea that people trend to reject because of the recognition that the new model would cost a lot of expense which work as the barrier for the expansion and distribution at the local market so as to prepare the ground for its activation. The Study was aimed at verifying the possibility of cost saving through comparing it with the existing standard apartment house system centered on the skeleton and cladding system among the new structural design models suggested in the former part. Assuming that these existing standard both models should be changed structural design into new model system, the quantity volume, cost and construction period along with the alteration of finished materials between two models were compared altogether. Simultaneously BIM library was built for easy taking-off bill of quantity and consideration of working methodology for construction working cycle, which was translated into construction cost so as to derive the cost of the two subject systems to be counted. Through the analysis, it was concluded that new model would secure variability in the future and constructability along with shortening the construction period (29%) and achieve cost saving (13%) of construction against the those of existing model.

• Journal of the Korea Institute of Building Construction
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• v.10 no.2
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• pp.75-80
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• 2010

With the intensifying of price competition and structural diversifications, the uncertainty of the domestic housing market has been increased. This highlights the importance of the planning stage of construction projects, and the increased need for a higher level of accuracy in approximate estimates. Currently, a number of research and development programs to calculate construction cost at the initial planning stage are being conducted. However, there are few cases in which local characteristics are considered in deriving the results. If local calibration can be conducted during estimates, more accurate cost estimates will be enabled. This could also play a major role in ensuring the success of a project. Therefore, the purpose of this research is to develop a calculation methodology and a model for a local index based on the historical data of public apartment buildings, and to derive a local index that supports accurate construction cost estimates.

• Land and Housing Review
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• v.4 no.3
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• pp.225-234
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• 2013

The indices to choose the object countries for developing overseas industrial park were developed and applied in this paper. The results are showing as follows. First, the Korean enterprises are branched out into total 128 countries as of the first quarter of 2010, and the 13 asian countries including China, Vietnam, Japan, and Hongkong shows the majority of precedence 20 countries among the reported during 1980-2010. Second, the 3 steps of selecting the principal region to branch out, establishing assessment indices and criteria, and choosing strategical target counties were developed to choose the countries for developing overseas industrial park. The 38 of 128 countries were selected where the GDP per capita is lower than Korea, and the local reports of incorporation during 2007-2010 are more than 10 times. Then, the 10 countries were excluded where the minimum wages during 2008-2009 are similar to Korean ($815/month). Consequently, the 28 countries including China, Vietnam, and Cambodia etc. were selected as the major target regions. Third, the indices to choose countries for developing overseas industrial park are classified into 5 categories-investment condition, labor market flexibility, potential market demand, population, changing rate of the reported number of manufacturing industry, and detailed indices for each category were selected, then the weight were given with the consideration of importance. Finally, Indonesia, Mongolia, and Uzbekistan were selected as the strategical target counties where acquire the high score in labor market flexibility and investment condition, relatively undeveloped, and friendly to Korea.

• Journal of Construction Engineering and Project Management
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• v.4 no.1
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• pp.8-14
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• 2014

The Construction industry in Yemen confronts many development constraints, such as the inadequate implementation of appropriate building materials and labour construction technologies. Thus, this research looks over building materials and labour construction technologies used on the local housing construction projects by verifying the percentage of construction expenditure consumed by the main construction components (Materials, Labour and Overhead and Profit), along with the implemented construction technologies. The paper conducts a survey to acquire the cost distribution of the construction main components. The outcomes of the survey were discussed; the discussion was supported by literature on similar issues from some countries. The outcomes confirmed the relatively limited percentage in labour cost and profit, and the elevated percentage of construction materials cost, which are because of the excessive and inappropriate use of materials. What's more, established that the excessively redundant unskilled labours are not effectively engaged in the construction activities, this is due to the tendency of the market in using labour-base technologies. This paper is to recommend a suitable policies and strategies has to be used to decrease cost by using efficiently appropriate construction practice and local materials, moreover take advantage of excessive labour to reduce unemployment.