• Journal of the Korean association of regional geographers
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• v.11 no.6
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• pp.620-639
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• 2005

In terms of loan transactions, mortgage volume secured by housing in Korea is the most important market share. Hitherto housing finance policies are treated as a kind of property pricing policy. So it is time to import financial systems on behalf of the mortgage loan consumers like a mortgage broker. A mortgage broker is an intermediary that brings a borrower and a creditor together to obtain a mortgage loan. The broker takes the application, performs a financial and credit evaluation, produces documents, and closes the loan. Especially mortgage brokers present themselves as specifically acting in the interest of the consumer by shopping on behalf of the consumer for the best product that meets the consumer's needs and financial circumstances. The paper investigates the economic role of mortgage broker, foreign systems focused on USA, UK, Japan, and characteristics of Korean housing finance markets. Finally the paper provides policy recommendations about Korean mortgage broker system composed of licensing type, uniform professional practice standard, educational requirements.

• Journal of the Korean association of regional geographers
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• v.16 no.6
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• pp.653-672
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• 2010

This study aimed to examine the characteristics and types of reformation of local administrative districts in a metropolitan area, focused on the experiences of Japan, where municipal mergers were carried out extensively over the last ten years. Local administrative districts substantially have spatial characteristics. Therefore, the reformation of local administrative districts should be followed by a detailed analysis of the characteristics of the local area. Unlike other regions, the metropolitan area of Japan shows discriminative characteristics of finance, population and centrality. In addition, there are many types of regional context within a metropolitan area. These could be categorized by finance, population, centrality and basic industry. In conclusion, I revealed that municipal mergers could be categorized by their background and process and many issues were contained in each category. It had a meaning that municipal mergers had characteristics that expanded the regional inequality. Therefore, different approaches considering regional characteristics would be required for a municipal merger to be a useful way for regional development.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.9-17
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• 2019

The purpose of this research is to review historical development of Islamic finance in individual East Asian economies, including China, Japan, South Korea and Hong Kong, and examine the success factors of the Hong Kong Sukuk issuances in 2014-2017. The research is a qualitative study applying case study method. It is found that the East Asian economies do play efforts to develop their Islamic capital markets although they have very limited size of Muslim population. Their progress on this development generally remains to be slow. The Hong Kong Sukuk is a breakthrough, carrying a total issuance value of US$3 billion. The Sukuk issuances, treated as a kind of asset-backed securities with restrictions on financing purposes, are distributed to international investors by investment banks from Hong Kong, Middle East and Malaysia. Success factors of these issuances include involvement of an issuer with high credit quality, recognition by central bank for using the Sukuk in its discount facility for commercial banks, centralized clearing services for the Sukuk and global banking network for underwriting the Sukuk. The lessons from the Hong Kong Sukuk are good references for other economies to develop their regional Islamic capital markets and to integrate the markets into the global capital market.

• Journal of Korean Society of Rural Planning
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• v.20 no.4
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• pp.183-192
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• 2014

The purpose of this study is to examine the effect of regional ageing rate to industrial structures of rural areas in Korea. This paper shows that there are cause-effect relations between the industrial specialization and ageing rate in 'Agriculture', 'Finance & Insurance', and 'Real Estate & Leasing' sectors. The ageing levels are classified into ageing society, aged society, and super-aged society according to UN standard that cause different impacts on industrial specialization of regions. This paper finds that the industrial specialization is determined by the ageing levels. If there is an increase in ageing rate by 1% in ageing society, the industrial specialization of the three industries could be strengthened by 0.14%. But, ageing rates have negative impacts on the industrial specialization in aged society and super-aged society by 0.76% and by 1.20%, respectively, as increasing ageing rate by 1%. As the ageing rate progresses, 'Agriculture', 'Finance & Insurance' and 'Real Estate & Leasing'sectors have positive impacts on the industrial specialization in the ageing society. But 'Finance & Insurance' and 'Real Estate & Leasing' sectors have changed into negative impacts on the industrial specialization in the aged society. In the aged society, the employment of elderly persons of 'Agriculture' and 'Finance & Insurance' sectors increase by 1% makes positive impact on the industrial specialization by 1.54%, by 0.45%, respectively. The result of this paper can be applied to a significant guideline at establishing regional employment planning such as elderly customized employment, vocational training for rural areas, where above 14% of ageing rate.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.1
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• pp.84-104
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• 2017

In this study, we divided Gyeonggi-do into Northern, Southern, Western, and Eastern Parts and found out fiscal variables which affected regional economic growth of each Part differentially. And we drew the strategy for economic growth of each Part. After we found out the variables which affected regional economic growth using fixed-effect model, we carried out causality test to determine whether a specific fiscal variable caused economic growth. In the Eastern Part, local tax revenues had a significant effect on the economic growth. Total expenditures, current expenditure in the Southern Part and social welfare expenditure, expenditure on industries, current expenditure in the Northern Part had noticeable effects on economic growth respectively. And we calculated multipliers of fiscal variables to compare the magnitudes of effects among these Parts.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1045-1052
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• 2020

This study aims to test the influence of employee competency and career management on career commitment in Indonesia. The study uses the cross-sectional data of regional government employees collected from February to April 2020. Regression and structural equation modeling are employed. The results base on the effect of employee competency and career management on career commitment in Indonesia are in line with the existing theory (i.e., Bandura's Career Theory). Employee competency has a significant positive influence on career management and career commitment, which shows that regional government employees with high competency generate effective career management, and in turn career commitment increased. Regional governments with their career management program should formulate human resources management practice policy (e.g., career support, training, career development program, and orientation programs) in order to increase their competency. The positive effect of employee competency on career management is because of the effective training and career development program. The positive influence of career management on career commitment is due to the regional government providing an attractive career program, thus, employees' career commitment improved. The positive influence of employee competency on career commitment via career management is implemented by regional government support to improve the career management program.

• Journal of the Korean Institute of Rural Architecture
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• v.7 no.3
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• pp.1-8
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• 2005

Decrease in Population and graying of rural area by industrialization and urbanization are gone continuously. This makes happened various rural problems and the differential of standard of living with is arising day by day. Government is unfolding rural supporting project to solve continuously these problems. Recent Projects which are choosing not top-down process by government leading but bottom-up process through village inhabitants' participation and expert consultant get positive estimation. But those have difficulties because the support is attained only in the beginning step not continuously and inhabitants' number by graying is decreasing. The Special Economic Zone for Regional Development Policy is new access that regulation can differ according to special quality of each area depending on Localization Age. Through this transfer the competence that can mitigate or reinforce various regulations according to special quality of area in local government. So, back and maintain activation systematically so that each area could be developed specially. The purpose of The Special Economic Zone for Regional Development Policy is the activation of regional economy through development that regional specific character is. And there is characteristic that local government plans and takes the lead in all project contents, government gives regulation benefit by appointing the special economic zone and do not support finance and various tax remissions. Through investigation of such new policy, I wish to recognize what long-term plan and method could be possible to success rural activation continuously.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.551-562
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• 2021

Strategic management of universities is crucial for the regional competitiveness due to the high impact of universities on the economic growth of regions through entrepreneurial training and support. The study aimed to investigate the HEInnovate self-assessment tool, valuable in building entrepreneurship-oriented strategy, by considering the case of Turan University. The tool can be used to study entrepreneurial capabilities of the university and make strong management decisions. The self-assessment allows getting feedback from all stakeholders, including external ones, which helps to make institutional changes to influence the regional economic growth. The framework of the research is based on the theories of strategic management and regional competitiveness, which can be deployed with the HEInnovate self-assessment recommendations and findings. The research methodology comprises objective and functional approaches to system analysis. HEInnovate self-assessment by Turan university revealed some weaknesses in the university strategy and helped make some recommendations, namely, the university's entrepreneurial ecosystem must act as part of a regional business support ecosystem to provide input into local economic development, attract more international faculty and faculty with more practical experience, create an entrepreneurial culture across staff of the university, address a lack of internal structures to support staff, and improve university-business cooperation.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.5-18
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• 2017

Total debt in the People's Republic of China surged to nearly 290% as a ratio to GDP by the second quarter of 2016, mostly on account of non-financial corporate debt. The outpouring of credit to stem the impact of the global financial crisis accentuated industrial overcapacity in traditional sectors, such as steel, cement, and energy, while feeding asset bubbles in the property, equity and bond markets. At the Chinese corporate level, this has translated into weakened fundamentals and a fall in industrial profits, particularly of SOEs. As debtors struggle to service interest payments, non-performing loans (NPLs) have been on the rise. This paper assesses the financial fragility of the Chinese economy by looking at risk factors in the non-financial sector. We apply quantile regressions to a dataset containing all Chinese listed companies in Standard & Poor's IQ Capital database. We find higher sensitivity over time of corporate leverage to some of its key determinants, particularly for firms at the upper margin of the distribution. In particular, profitability increasingly acts as a curb on corporate leverage. At a time of falling profitability across the Chinese non-financial corporate sector, this eases the brake on leverage and may contribute to its continuing increase.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.15-27
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• 2022

The paper addresses the importance of redesigning strategies for resilient and sustainable regional economic development - by applying strategic approaches to free economic zones for the digital economy. The purpose of the paper is to provide a broad comparative perspective on developed versus developing country efforts to use free economic zone programs to enhance various economic and social objectives. First, the paper introduces the chronicle experiences of free economic zone programs in South Korea and mainland China - developed versus developing economies. The main results of the analysis indicate that (1) achieving the goals and objectives of free economic zones is challenging over time; (2) trying to upgrade the technical component, develop knowledge-based and eco-friendly new industries, or value-added to the economy through free economic zone policies is even challenging; and (3) incentives and other program-specific variables are highly context-specific and not structurally correlated with free economic zone performance. In addition, the paper shows that the initial conception of the role of free economic zones has undergone significant change as individual countries have tried to enhance the contributions and avoid damages from incorporating free economic zones into their development strategy respectively, over time.