• Journal of the Korean Geographical Society
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• v.48 no.3
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• pp.433-452
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• 2013

Bonjeong-tong(本町通) which was originated from Japanese place name and commercial center during Japanese colonial period speaks for downtown in the urban Korea of today. This study tries to investigate a variety of place memories that have been layered in Bonjeong-tong in the case of Chungmu-ro and Myeongdong area in Seoul, Korea. The author settles the concept of 'place memory' from the viewpoint of the discipline of human geography, and reconstructs place memories of Bonjeong-tong by three folds of layers focusing on the multilayeredness and the contestedness of place memories which have been piled up in Bonjeong-tong; 'the symbol of colonial power' vs. 'the emblem of modernization', 'the heart of monetary capitalism' vs. 'the ground of humanists and artists', 'the space of fashion' vs. 'the place of identity'. As a result, the author places emphasis on that a place like Bonjeong-tong in itself within a city is a sort of palimpsest, and suggests that therefore it is necessary to adopt a vertical approach not a horizontal one for the study on urban space in future.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.2
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• pp.178-195
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• 2019

In this study, we examine business start-up and closing business in a geographical context. In particular, we analyze the geographical characteristics of business start-up and closing business according to the type of industry. For the purpose, we use the last 10 years data that have been related with current economic situation since the financial crisis. In first, we identify the spatial distribution patterns of business start-up and closing business, We examine the difference between individual businesses and corporations. Finally, we construct general linear regression models and spatial regression models for them, and derive meaningful socioeconomic variables that explain their location distribution. The results of this study could provide basic data for regional planning of national and local governments that activate local economies as well as job creation.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.3
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• pp.237-245
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• 2019

The aim of this article is to introduce articles of the special issue on 'Revitalization Conditions on Crisis on Industrial Regions: Experience from Europe and the Republic of Korea, and to explore policy alternatives to crisis on industrial regions on the basis of policy diagnoses and prescriptions. In the existing research, diagnoses of such Korean regions are quantitatively focused upon industry, employment, plant, consumption, investment, real estate, and labour market, and are qualitatively based upon external environment and functional, structural and spatial characteristics. Prescriptions of such regions emphasize the establishment of a law and an institutional fix, financial supports, jobs' creation, industrial diversification, the intensification of urban foundation throughout the urban revitalizaion. In the policy development for these regions, it is required to link the industrial sector to social, educational, political and welfare sectors, and furthermore the collaboration of inter- and intra-ministry and the active participation of provincial and local governments are needed.

• Journal of the Korean Geographical Society
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• v.35 no.5
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• pp.717-729
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• 2000

Housing prices in the Korean housing market dropped at an unprecedented magnitude in 1998 after the economic crisis. With the support of housing policies to boost depressed housing markets, house prices managed to bounce back after the mid-1999. During the period of housing price decline and of its recovery, the degrees of house price changes were not even across the country. The cities could be classified into four groups regarding the differential rates of house price changes. The cities which had higher rates of decrease also had higher rates of increase. On the other hand, some other cities continuously experienced a price fall during the recovery period although the rate of housing price changes were relatively low after the economic crisis. Throught the processes of administering housing market depression due to the crisis of the economy, the cities which could fully redeem the level of house prices in housing markets between the Seoul Metropolitan area and the other parts of the country has been widened.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.2
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• pp.225-239
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• 2011

The main purpose of this paper is to analysis the growth process of new emerging Korean society in Georgia, the USA by investigating changes in the regional distribution of Korean business located in metro Atlanta region. More specifically, it aims to identify the characteristics of spatial distribution of Korean business in metro Atalanta through their locational trends since 1980s. To this end, it has explored the history of Korean migration into Georgia and the locational trends of Korean firms in metro Atlanta by industries. As a result, the main location of Korean firms has expanded into the northeastern regions of Atlanta due to the development of transportation, new regional development, education environment and changes in residential distribution by ethnic. Also, the main Korean business has transformed from retails and restaurant to real estate and finance because of changes in market strategies, institutions and Korean local migration.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.2
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• pp.275-292
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• 2013

This paper aims at analyzing the use REITs for improving housing welfare, especially focusing on affordable housing. To do this, firstly, current state and main problems of domestic housing welfare are analyzed, secondly, housing welfare system involving capital market and case study of affordable housing REITs in United State are examined. and thirdly, utilization schemes of REITs for improving affordable housing are analyzed. In the process of executing housing welfare, various systemic bases for attracting capital market are constructed. Under these systemic basis, affordable housing REITs such as Community Development Trust are operated. This scheme also can be applied in Korea. In the context, the structures of using management on commition REITs and the structure of using real estate fund are proposed.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.665-680
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• 2009

This study aims at analyzing the performance of Real Estate Investment Trusts(REITs) by Risk Adjustment Model. The main results are as follows. Firstly, most property types of REITs gain positive(+) excess overall returns at first and second period. On the contrary, most property types of REITs gain negative(-) excess overall returns and their standard deviations are larger at financial crisis period. Secondly, lodging, regional mall and commercial mortgage show lower risk-lower return, and freestanding, apartment and specialty show higher risk-higher return than average REITs, according to the CAPM results of . Moreover CAPM results of show the characteristics of REITs as investment commodities changes into higher risk-higher return for financial crisis period. Lastly, risk adjusted demanded returns of REITs are affected positively(+) by systemic risks and negatively(-) by unsystemic risks, according to the Risk Adjustment Model results of both and . Comparing risk adjusted demanded returns of REITs with their realized returns, healthcare reveals the largest outperformance.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.4
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• pp.631-646
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• 2013

This paper empirically explores the pattern of causality between bank lending and housing prices in Korea over a period of the early 1990s to the end of 2000s by employing a long term cointegration and short-term time series regression analysis. Although the contemporaneous correlation between bank lending and housing prices is large, the analysis shows that the intense interaction between credit growth and bank lending to household arises from a growth in banking lending responding to an increase in housing prices. In addition, the regulatory change such as the introduction of financial constraints on bank loans such as LTV and DTI in the early and mid-2000s has played a significant role in stabilizing financial and real estate markets.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.3
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• pp.274-290
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• 2019

This article links the change in regional manufacturing employment in Korea after the financial crisis to the geography of technological and trade shocks. We conceptualize the trade shock as the rapid growth in Korean imports from and exports to China and ASEAN countries. We then measure the exposure to technological shocks as the degree to which regions are specialized in routine tasks, which are susceptible to automation technologies. Results show that local labor markets specialized in routine tasks experience significant falls in manufacturing employment. Regions whose industrial structure exposes them to rising import competition experience sharp drop in manufacturing employment. We also found that export plays a major role in explaining the growth of regional manufacturing employment.

• Journal of the Korean Geographical Society
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• v.50 no.4
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• pp.431-449
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• 2015

Philosophical roots and discussion frames of neoliberalism are very heterogeneous and approaches to neoliberalism including anarchism, post-neoliberalism also take diverse stances. Even if neoliberalism is losing legitimacy and stability through the global financial crisis, 2008, spatial perspective is becoming more and more important as neoliberalism constantly evolve with creating immense variations. Especially, urban space has become strategically crucial arenas as spatio-temporal strategies and generative nodes for reproduction of neoliberalism. Urban enclosure plays a key role in the specific process of neoliberal urbanization as a kind of capitalist formal and real subsumption. Contemporary capitalism continuously has been sustaining the accumulation by dispossession based on urban enclosure through reshaping the primitive accumulation mechanism. These enclosures are embodied by the change of public use concept from public ownership to economic benefits and public-private taking for private capital. Urban enclosure promotes reification deepening the separation and alienation of workers from the means of production and survival, and interdiction from free place appropriation, transformation of urban economy to patrimonial forms. Also it is pervasive in a daily life space and everyday experience in the city, and private tangled social rules dominate public space and the publicity of space.