• Journal of the Economic Geographical Society of Korea
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• v.14 no.2
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• pp.157-175
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• 2011

This paper aims to analyze the characteristics of healthcare REITs' performance and operation, and to examine their use for activating the silver industries in Korea. The results of this study are as follows. First, according to the results of analyzing healthcare REITs' performance, healthcare REITs outperformed average REITs and extended investment proportion compared to total REITs after 2007. This outperforming came from not only rapid growth of silver industries, but also REITs strategy using the structure of sale-and-leaseback and triple-net lease. Second, healthcare REITs use selection and concentration strategy in terms of asset sector, but use portfolio diversification strategy in terms of investment region. Third, according to the analysis results, healthcare REITs are to be useful for activating the silver industries in Korea. In this context, major implications are presented to use healthcare REITs effectively.

• 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.11 no.1
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• pp.130-147
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• 2008

Spanish missionaries started to grow vine grapes and make wines in California 230 years ago. Earlier pioneers of the land started to do the same works for commercial purposes 130 years ago. Now California became one of the most important wine making places of the world. The quality of California wines in fact have been acknowledged as the best in the world by being ranked on the top in international wine tasting competition, such as Paris Tasting. A large wine cluster, consisted of grape growing, wine making, wine tours, and research and education, has been created in the area centered by Napa and Sonoma, California. In this context, this paper examines the process of formulating the cluster, factors contributing the success, articulates core actors, and draws policy and theoretical implications. It concludes that innovative actors, such as winery founders, local universities, and business organizations, have played key roles in establishing the California wine cluster.

• 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.21 no.3
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• pp.231-253
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• 2018

This paper aims at analyzing ways to utilize the capital market for expanding housing welfare, focusing on the case of the affordable housing REITs in the United States. The main results of this study are as follows. First, the United States converts the keynote of its housing welfare policy to the provision of affordable housing, through private operators, and operates various support systems, including the LHITC program for them. Second, under this institutional framework, the use of capital markets for affordable housing is actively carried out, especially through the provision of affordable housing REITs such as CDT and AIMCO. Third, the public- driven housing REITs model and the private-led housing REITs model were proposed as ways to utilize the capital market through affordable housing REITs in Korea. Finally, policy improvement ways were proposed to promote the use of the capital market of affordable housing REITs.

• Journal of the Korean association of regional geographers
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• v.12 no.1
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• pp.154-171
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• 2006

By comparing to Chinese American banks, this research shows the uniqueness of Korean American banks. This article argues that instead of the cultural attributes and/or informal financial institutions, formal financial institutions, such as the ethnic banks studied here, are responsible for the business success of Asians abroad. However, ethnic banks have different development trajectories depending on their respective ethnic communities. Korean American banks are notably different from Chinese American banks in terms of growth, profitability, and banking strategies. Although both ethnic banks exercise relationship banking strategies in their loan portfolios, their deposit compositions are very different and cause significant differences in financial performance. The focus on business loans and high rates of non-interest deposits allow for higher growth rates in Korean American banks. Therefore, relationship banking does not adequately explain the differences of ethnic banks. This research attempts to understand the underlying factors in choosing banking strategies by mainly focusing on the unique examples found in Korean and Chinese immigrant societies. For Chinese Americans, the heterogeneity of their population composition and foreign influence dominate their bank structures. On the other hand, Korean American homogeneity and business orientation are distinctly different. The influence of Korean capital is not significant when compared to overseas Chinese capital.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.4
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• pp.453-485
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• 2017

One of the oldest chestnuts in economic geography is this: Cultural and creative industries strongly gather in large cities and this geographic concentration of economic activities leads to regional development. Of course, depending on the circumstances, such a proposition still holds good. But, under the current paradigm shift to knowledge-based economy, it may be open to question. This study aims to investigate financing and knowledge accumulation in the film industry through an alternative framework for explaining their spatial distributions, "formation mechanism of economic space." From the fact that their production organizations are formed on a project basis, project-based financing structure in the investment stage and knowledge accumulation process in the production stage form both axes of it. Film industry as the most mature industry among the cultural and creative industries does not always concentrate in a certain place (industrial agglomeration) or show metropolis-oriented preference. This allows us to reconsider our long brooding theory.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.2
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• pp.173-188
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• 2016

This paper argues that the establishment of the Kaohsiung Export Processing Zone (KEPZ), the first EPZ in East Asia, is a compromise of cold-war geopolitical economy in the 1960s. The KEPZ is part of the liberalization policy advise of the US Aid agency which intended to push the KMT (Kuomintang) government to downsize the nationalized sectors and foster private enterprises and encourage foreign investments. However, the KMT state hesitated to embrace the advice wholeheartedly but was forced to implement selectively the policies. To meet the compromise between liberalization and control, the KMT government takes advantage of the KEPZ to grab the geoeconomic opportunities emerging from the new international division of labor in the 1960s without losing the geopolitical support from the US. The idea that zoning as a space of compromise would provide a subtle re-examination of the rise of the KEPZ which is conventionally explained by the functionalist arguments such as increase of employment opportunities, foreign investments and export by the far-sighted developmental state.

• Journal of the Korean Geographical Society
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• v.48 no.1
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• pp.72-86
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• 2013

Industrial agglomeration is an old theme in economic geography and many studies have been devoted to this topic. But only few have empirically looked at the time trend of industrial agglomeration. This study measured agglomeration of U.S. industries over last 29 years and measurement results indicated that industrial clustering has occurred during the study period in all study industries without a common time trend shared amongst the study industries. The agglomeration levels then were plugged in to investigate causalities, i.e. causal relations, around industrial agglomeration. Three variables were selected to see causal relations with agglomeration levels based on literatures, and our focus was given to the causality between transport network and agglomeration. Causal relation from transport to agglomeration was found in various industries and this supports the argument that the development of transportation influences industrial agglomeration. At the same time inverse and bi-directional causalities were also revealed implying more complex relationship between these two.

• Journal of the Korean Geographical Society
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• v.40 no.2 s.107
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• pp.187-201
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• 2005

With the trend of urban polynucleation, the issue of detecting economic clusters or urban employment centers has been considered as crucial. However, the prior researches had some limitations in detecting economic clusters in the empirical analysis: i.e. inherent inefficiency of density-based clustering methods, difficulty in detecting linear types of spatial clusters and lacks of consideration of economic significance. The purpose of this paper is to propose the clustering method with the procedure of testing statistical and economic significance named as VCEC (Variable Clumping method for Economic Clusters) and to apply it to a case analysis of Erie County, New York, in order to test its validity. By applying a search radius and a total employment as an economic threshold, 'the both statistically and economically significant clusters' were detected in the Erie County, and proved to be efficient.