• Journal of Family Resource Management and Policy Review
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• v.23 no.2
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• pp.99-115
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• 2019

This study examined the insolvency likelihood of young debtors from the 2018 Household Financial and Welfare Survey. This study used the Household Default Risk Index (HDRI), which considers the ratio of total debt to total assets (DTA), and a total debt service ratio (DSR) to examine the insolvency level of debtors. The descriptive analyses showed no difference in frequency of households with a high probability of insolvency between those less than 35 years of age and those over 35 years of age. However, the median HDRI value for those less than 35 years of age was higher than those over 35 years of age. The multivariate analyses indicated that educational expenses for young Korean debtors was a factor that increased their probability of insolvency, while income was the only variable that decreased their insolvency likelihood.

• The Journal of the Korea institute of electronic communication sciences
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• v.9 no.3
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• pp.393-402
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• 2014

ICT environment to the survey released by the Bureau of Statistics 2012 Household Finance. Korean Welfare survey 24.9% of all households in financial assets, real estate is about three times more than 69.9%, respectively. The problem is that the information is slow and income deciles(deciles 1-4), a relatively high proportion of households with low(78.8 to 69%) of the real estate assets of the expansion of the world economy with low growth and low uncertainty, work from home due to the information changes in the structure of the economy, such as increases in real estate prices remain exposed to the risk of a phenomenon such as Pour House Pour Talent and low-income people is bound to be more serious symptoms. This low correlation is by constructing a composite asset portfolio, the weighted average risk of the individual assets while increasing overall revenue decrease that risk is based on the principle of portfolio by type and different areas in the ICT environment in a portfolio of real estate price index low correlation to financial assets by including the effect of dispersion stable complex asset portfolio and empirical Growth was divided.

• Review of KIISC
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• v.4 no.1
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• pp.44-52
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• 1994

정보화 사회에서는 가계, 기업, 정보 등의 정보 활동의 주체들이 가진 정보자산은 데이타 베이스(이하DB)와 소프트웨어(S/W)로 대변할 수 있으며, 이중 DB는 정보화 사회의 기반시설의 하나라고 볼 수 있다. 특별히 통계DB는 각 주체들에게는 필수적인 정보를 갖고 있다. 금융자산의 정보, 국방에 관련된 병력, 장비, 군수물자등의 정보, 회계정보 뿐 아니라 인구센서스, 경제계획수립 등등의 다양한 분야에 이 통계 DB는 사용되고 있다. 이러한 통계DB는 기존의DB에서의 데이타의 저장, 관리, 추출 기능외에 통계적인 데이타의 분석기능이 요구되고 있다. 통계 처리를 위한 데이타베이스관리 시스템(DBMS, database management system)은 주로 기존의 DBMS 에 통계처리를 위한 기능을 추가하거나 통계를 위한 DB를 따로 구축하는 방법을 사용하고 있다. 따라서 일반적인 DB 보호 기술과 더불어 통계 의 환경을 이해하는 보호 기술이 요구되고 있다. 일반적으로 DB 를 보호하는 방법으로는 물리적인 보안(physical security)과 운영체계 보안(operating system security) 이 있으며, 이들과 함께 데이타 암호화(data encryption)의 방법을 사용하고 있다. DB 의 보안 방법에 관한 연구 중 George I. Davida 등에 의한 방법은 중국인의 나머지 정리(chinese remainder thorem)를 사용하는 암호화 알고리즘을 이용하여 레코드(record) 단위의 암호화를 하며, Khamis A. Omar등에 의한 방법은 읽기, 쓰기, 갱신의 3단계의 사용자 등급을 부여하여 DB 접근의 제약을 가하는 기능을 갖고 있다. 본고에서는 특히 그 중요성이 더해가고 있는 통계 의 일반적인 개념을 살펴보며, 특성 지향형 질의 모델(characteristic-specified query model)의 보호기술을 살펴본다. 특별히 본고는 통계 DB의 보호에 대한 일반적인 조사 연구로서 잘 알려진 사실들을 많은 참고 문헌과 더불어 소개하는 내용으로 통계 DB의 보호에 관한 새로운 연구 결과는 아니다.

• Journal of Family Resource Management and Policy Review
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• v.26 no.3
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• pp.19-34
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• 2022

There are growing concerns about debt insolvency among youth and low-income households. The deterioration in household debt quality among young people is due to a combination of sluggish employment, an increase in student loan burden and an increase in high-interest loans from the secondary financial sector. The purpose of this study was to explore the possibility of household debt default among young borrowers in Korea and to predict the factors affecting this possibility. This study utilized the 2021 Household Finance and Welfare Survey and used random forest algorithm to comprehensively analyze factors related to the possibility of default risk among young adults. This study presented the importance index and partial dependence charts of major determinants. This study found that the ratio of debt to assets(DTA), medical costs, household default risk index (HDRI), communication costs, and housing costs the focal independent variables.

• Journal of Consumption Culture
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• v.15 no.1
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• pp.93-118
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• 2012

The purpose of this study was to examine the effect of a householder's working type on household saving from the perspective of precautionary saving behavior theory and the determinants of household saving by householder's working type. The data for this study was from the 2009 year of the Korea Welfare Panel Survey (KOWEPS), consisting of 2,463 households with householders whose working type was regular or non-regular employment(temporary, daily or public work). OLS regression analyses and Chow-tests were performed. In the regression analyses, the dependent variables for household saving were precautionary saving and precautionary asset. Precautionary saving was operationalized with the amount of average monthly saving and the ratio of average monthly saving to average monthly disposable income, and precautionary asset was operationalized with the amount of financial assets and the ratio of financial assets to net assets. The independent variables were household income, household assets, householder's working type(regular, non-regular), householder's age, sex, education level and marriage status, income level, the number of household members, housing type, debt, and public transfer income. Monthly average total consumption expenditures for household income, and net assets for household assets, the existence of spouse for marriage status, poverty for income level were used. Public transfer income was classified into three, social insurance, basic assistance and government assistance. For the analyses, Stata 11.0 version was used. The results are as follows: Householder's working type was significantly related to the precautionary saving behavior of a household. However, the precautionary saving and the precautionary asset of a household with a householder in non-regular working type was lower than those of a household with a householder in regular working type. This result is not consistent with the expectation from the perspective of precautionary saving behavior that the saving of a household with a householder in non-regular working type is expected to be higher than that of a household with a householder in regular working type. According to the analyses of the determinants for precautionary saving behavior by householder's working type, monthly average total consumption expenditures, debt, net assets, poverty, the number of household members, basic assistance were statistically significant variables. The positive relation of basic assistance to precautionary saving(the amount of average monthly saving and the ratio of average monthly saving)is a noteworthy result in the analyses of the determinants for household saving by householder's working type. The above results suggest the followings. First, it is easy to predict the unstability of economic life of a household with a householder in non-regular working type because of relatively low precautionary saving and precautionary asset. The reason for the low precautionary saving and the low precautionary asset may be a low current income of the household in spite of its willingness to save. If this reasoning is possible, it suggests that policies are needed for households with householders in non-regular working type to save. Second, the relatively low precautionary saving and precautionary asset of a household with a householder in non-regular working type suggest also their long-term economic stability. This suggests they need to try a long-term financial planning even though they have limitations to save for future because of their low current income. It is necessary to develop the financial planning for the households with unstable incomes. Third, the determinants for precautionary saving behavior by householder's working type were mostly the ones which reflect the economic condition of a household. This suggests that the economic condition of a household is a core factor for household saving. Consequently, it emphasizes the efforts for a household to acquire the adequate level of income for saving. Forth, the positive relation of basic assistance to precautionary saving(the amount of average monthly saving and the ratio of average monthly saving) suggests the possibility for a household to accumulate the precautionary saving and the precautionary asset in the channel of basic assistance.

• 한국노년학
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• v.29 no.1
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• pp.215-230
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• 2009

In this study, we compared Korean retirees' retirement wealth adequacy with their subjective recognition and examined determinants affecting the retirement wealth adequacy. The data were drawn from the 2007 Korean Retiree Survey carried out by the Korean Investors Education Foundation. The major results of this study were as follows. The analysis suggested that Korean retirees(age 50 and over) were not well prepared financially. When using their assets(except for their residence), only 23.2% had accumulated enough wealth to meet their expenses for the remainder of their life. 25.7% of retirees subjectively considered themselves to be adequately covered. The comparison results showed that 23.8% of retirees' subjective recognition was not in accord with the estimation results. One of the most troubling groups is the 12.9% of retirees who were in the inadequacy group even though they considered themselves to be in the adequacy group. Retirement wealth adequacy determinants were quite different between objective adequacy and subjective recognition. Household income and ownership of a residence have positive effects on the retirement wealth adequacy. Also, the importance of retirement planning to retirement wealth adequacy is statistically confirmed. Based on these findings, This research suggests private retirement planning and political implications for retirees and preretired households.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.2
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• pp.196-213
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• 2019

This paper attempts to analyze the contribution of different socioeconomic factors such as income, age, gender, household composition, education and employment status etc. to the difference between the Capital and Non-Capital Regions in the net wealth inequality of household in Korea. To this end, a two-stage Oaxaca-Blinder type decomposition is employed regarding the regional gap in the inequality of net wealth based upon the Recentered Influence Function of the Gini index for 'the 2018 Household Finance and Living Conditions Survey.' Despite the shortcomings of the survey data on wealth, the findings reveal that regional differences in income, marriage status (divorce), job type (agriculture, forestry and fishery related, and technical and assembly), family type (multi-cultural) variables deepen the regional gap in the net-wealth inequality, but employment status (full-time), job type (administrative and specialized, and service sales), household size variables mitigate the gap, and that regional differences in life cycles play an offsetting role.

• Land and Housing Review
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• v.5 no.4
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• pp.259-269
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• 2014

After global financial crisis, the ratio of household debt to GDP was decreasing in other advanced countries such as the U.S., and the U.K. and so on. But, in Korea, household debt (of which residential mortgage loan account for a large part) ratio is still increasing. This paper focuses on the scale and characteristics of households in negative housing equity (those are called House-poors in Korea), and also the socio-economic backgrounds of the formation process. In financial perspective, the problem of negative housing equity depends on financial debt repayment capability. We used DSR (Debt Service Ratio) and LTA (Loan to Asset ratio) as financial indicators to evaluate the debt repayment capability. The critical value of DSR is assumed as 40%, and LTA 100%. The socio-economic backgrounds of the House-poors are as follows : increasing households debt dependency, over lending competition of financial institutions and unreasonable loan in household economy, instability of real estate market, week regulation on mortgage loan. Finally, this paper suggests some implications about the range and the target of public intervention.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.199-215
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• 2020

Purpose - This article tries to test if the conditional consumption capital asset pricing model (CCAPM) with bank credit for household as a conditional variable can explain the cross-sectional variation of stock returns in Korea. The performance of conditional CCAPM is compared to that of multifactor asset pricing models based on Arbitrage Pricing Theory. Design/methodology/approach - This paper extends the simple CCAPM to the conditional version of CCAPM by using bank credit for household as conditioning information. By employing KOSPI and KOSDAQ stocks as test assets from the second quarter of 2003 to the first quarter of 2018, this paper estimates risk premiums of conditional CCAPM and a variety of multifactor linear models such as Fama-French three and five-factor models. The significance of risk factors and the adjusted coefficient of determination are the basis for the comparison in models' performances. Findings - First, the paper finds that conditional CCAPM with bank credit performs as well as the multifactor linear models from Arbitrage Pricing theory on 25 test assets sorted by size and book-to-market. When using long-term consumption growth, the conditional CCAPM explains the cross-sectional variation of stock returns far better than multifactor models. Not only that, although the performances of multifactor models decrease on 75 test assets, conditional CCAPM's performance is well maintained. Research implications or Originality - This paper proposes bank credit for household as a conditional variable for CCAPM. This enables CCAPM, one of the most famous economic asset pricing models, to conform with the empirical data. In light of this, we can now explain the cross-sectional variation of stock returns from an economic perspective: Asset's riskiness is determined by its correlation with consumption growth conditional on bank credit for household.

• Land and Housing Review
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• v.14 no.3
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• pp.17-36
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• 2023

This research aims to investigate the socio-demographic, financial, and housing statuses of young married couples in Chonsei housing and to analyze the determinants of their residential environment quality and housing expenditure in four districts - Seoul and Gyeonggi-Incheon Area(GIA) of the Seoul Metropolitan Area(SMA), and metropolises and non-metropolises of non-SMA. From the 2020 Korean Housing Survey(KHS), this cross-sectional analysis examined a sample of 691 households, and the findings revealed that most were headed by college-educated, salaried male workers aged 31 years old. While childless dual-earner couples were common in Seoul, single-income families of three were prevalent in non-SMA. The financial status of the couples in Seoul was a lot better than in the other three areas, particularly much higher in Chonsei deposit and total asset value. Further, many lived in a three-bedroom apartment unit sized 60m² and bigger, using a Chonsei loan. Regardless of areas, almost all the households spent a very low portion of their living expenses and income on housing costs. However, dual-earner families positively increased borrowing capacity, which improves the household's financial position that is likely to lead to equity increment in a volatile asset market in the long run. The statistical results indicated that residential environment assessment was influenced by neighborhood quality and housing expenditure was affected by housing size in Seoul, urban amenities in GIA and householder's gender in non-metropolises. Thus, this research proposes that strong measures be considered to mitigate housing inequality embedded in geographical and socio-economic disparities.