• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.6315-6324
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• 2015

This study analyses the effects of household finances on rental price of apartment in Seoul which play a major role in real estate policy. We estimate VAR models using time series data. Economy variables such as sales price of apartment in Seoul, consumer price index, hiring rate, real GNI and loan amount of housing mortgage, which relate to household finances and influence the rental price of apartment, are used for estimation. The main findings are as follows. In the short term, the rental price of apartment is impacted by economy variables. Specifically, Relative contributions of variation in rental price of apartment through structural shock of economy variables are most influenced by their own. However, in the long term, household variables are more influential to the rental price of apartment. These results are expected to contribute to establish housing price stabilization policies through understanding the relationship between economy variables and rental price of apartment.

• Smart Media Journal
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• v.11 no.3
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• pp.62-73
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• 2022

Researches on the prediction of domestic apartment sales price have been continuously conducted, but it is not easy to accurately predict apartment prices because various characteristics are compounded. Prior to predicting apartment sales price, the analysis of major factors, influencing on sale prices, is of paramount importance to improve the accuracy of sales price. Therefore, this study aims to analyze what are the factors that affect the apartment sales price in Gwangju, which is currently showing a steady increase rate. With 6 years of Gwangju apartment transaction price and various social factor data, several maching learning techniques such as multiple regression analysis, random forest, and deep artificial neural network algorithms are applied to identify major factors in each model. The performances of each model are compared with RMSE (Root Mean Squared Error), MAE (Mean Absolute Error) and R² (coefficient of determination). The experiment shows that several factors such as 'contract year', 'applicable area', 'certificate of deposit', 'mortgage rate', 'leading index', 'producer price index', 'coincident composite index' are analyzed as main factors, affecting the sales price.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.189-203
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• 2020

Purpose - This study aims in analyzing the dynamic relationship between household loans and housing prices according to the characteristics of depository institutions after the financial crisis, identifying the recent trends between them, and making policy suggestions for stabilizing house prices. Design/methodology/approach - The monthly data used in this study are household loans, household loan interest rates, and housing prices ranging from January 2012 to May 2020, and came from ECOS of the Bank of Korea and Liiv-on of Kookmin Bank. This study used vector auto-regression, generalized impulse response function, and forecast error variance decomposition with the data so as to yield analysis results. Findings - The analysis of this study no more shows that the household loan interest rates in both deposit banks and non-bank deposit institutions had statistically significant effects on housing prices. Also, unlike the previous studies, there was statistically significant bi-directional causality between housing prices and household loans in neither deposit banks nor non-bank deposit institutions. Rather, it was found that there is a unidirectional causality from housing prices to household loans in deposit banks, which is considered that housing prices have one-sided effects on household loans due to the overheated housing market after the financial crisis. Research implications or Originality - As a result, Korea's housing market is closely related to deposit banks, and housing prices are acting as more dominant information variables than interest rates or loans under the long-term low interest rate trend. Therefore, in order to stabilize housing prices, the housing supply must be continuously made so that everyone can enjoy housing services equally. In addition, the expansion and reinforcement of the social security net should be realized systematically so as to stop households from being troubled with the housing price decline.

• Asia Marketing Journal
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• v.11 no.3
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• pp.57-89
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• 2009

This study aims to shed light on the new insights on the cross-buying intentions in the banking industry and suggests an integrated model of the cross-buying intentions. Recently with globalization in the financial sector, financial companies are trying to retain current customers and attract new one by developing various financial products. In South Korea, this trend is especially apparent in the banking sector. Cross-selling of various financial products such as beneficiary certificates, bankasurance and etc. is becoming more important in retaining competitive advantage in Korean banking industry. However, there are few studies which are trying to find out the factors affecting cross-buying intentions and explain their interrelationships comprehensively. Based upon the previous studies, this study finds out the factors affecting cross-buying intentions and classifies them into two dimensions: affective and instrumental. Affective dimension includes trust, satisfaction and commitment. Instrumental dimension includes the factors such as geological convenience, one-stop convenience, professionality, and direct mail. The results from this study are as follow. All the factors in the affective dimension(trust, satisfaction and commitment) have significant impacts on cross-buying intentions. Also all the factors in the instrumental dimension(geological convenience, one-stop convenience, professionality, and DM) significantly affect cross-buying intentions. Some implications of this dissertation are as follow; First, this study identifies the antecedents of cross-buying intentions comprehensively. Second, this paper provides practical guidelines for the banks attempting to intensify cross-selling activities. Third, banks need to develop sophisticated plans which can consolidate the emotional ties with customers through positive service experiences as the affective dimension is important in influencing cross-buying intentions. Finally, regarding the instrumental dimesnion, the implications are: 1) Developing various new financial products in addition to traditional product such as deposits and installment savings for improving customer convenience, 2) Enhancing the professionality of employees by strengthening education programs on numbers of financial products, 3) Increasing cross-buying intentions through the DM.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.119-124
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• 2023

This study analyzed the impact of the real estate changes on the unemployment rate in Korea. Using monthly data from January 2013 to February 2023, the study employed a multiple regression analysis model. The key findings are as follows: First, there was a significant causal relationship between the real estate changes and the unemployment rate. Specifically, an increase in the real estate market led to a significant decrease in the unemployment rate, while a decrease in the real estate market resulted in a significant increase in the unemployment rate. Second, an increase in the loan interest rate was found to significantly reduce the unemployment rate, while a rise in interest rates had positive effects on the employment. Furthermore, an increase in inflation was associated with a significant rise in the unemployment rate. Moreover, an increase in the number of permits issued for housing construction significantly reduced the unemployment rate. Lastly, conducting robustness tests by substituting variables did not significantly alter the analysis results, indicating the robustness of the impact of the real estate changes on the unemployment rate. Based on the above analysis, it can be inferred that the fluctuations in real estate prices in South Korea are linked to fluctuations in the unemployment rate, and stable management of the real estate market may contribute to the stability of the unemployment rate.

• Journal of Industrial Convergence
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• v.21 no.1
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• pp.111-122
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• 2023

The purpose of this study is to verify the factors affecting survival time by estimating survival rate and survival time using non-financial information of social enterprises using credit guarantee in credit guarantee institutions, and provide information to stakeholders to improve survival rate and employ to contribute to maintaining and expanding the As a research method, survival analysis was performed using a non-parametric analysis method, Kaplan-Meier Analysis. As a sample, 621 companies (577 normal companies, 44 insolvent companies) established between 2009 and 2018 were selected as the target companies. As a result of examining the factors affecting survival time by classifying social enterprise representative information and corporate information, representative credit rating, representative home ownership, credit transaction period, and corporate credit rating were derived as significant variables affecting survival time. In the future, financial institutions will be able to induce corporate soundness by reflecting factors that affect survival when examining loans for social enterprises, contributing to job retention and reduction of social costs. Supporting organizations such as the government and private organizations will be able to use it in various ways, such as policy establishment and education and training for the growth and sustainability of social enterprises. With this study as an opportunity, I hope that research will continue with more interest in the factors influencing social enterprise performance as well as corporate insolvency.

• Korean Journal of Construction Engineering and Management
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• v.25 no.2
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• pp.45-55
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• 2024

This study analyzed the efficiency determinants of specialty construction companies by industry using the DEA model and the Tobit model. The analysis targets are 394 specialty construction companies as of 2022. As a result of analysis of efficiency determinants using 12 company characteristics as independent variables, the biggest problem for specialty construction companies was overall efficiency reduction due to rising labor costs. In addition, in a situation where construction companies' loan regulations are severe, the debt ratio was found to have a positive effect on efficiency. Company size had a different impact by industry, and the number of businesses held, credit score, and total capital turnover had an effect only on some industries. This study presents results that are an advance on existing research in that it strategically analyzes factors for improving the efficiency of specialty construction companies. However, it has limitations such as limiting the analysis to only specialty construction companies subject to external audit, insufficient number of companies subject to analysis by industry, and analyzing relative efficiency in the same category for each industry.

• Land and Housing Review
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• v.6 no.2
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• pp.67-77
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• 2015

Now that it is the current situation that the smooth supply and demand are necessary for 2nd phase of beginning construction and stable development of Gaesung Industrial Complex, this study was willing to offer the planning criteria and model to establish the lodging for the workers in Gaesung Industrial Complex based on the agreement that both South and North Korea agreed in 2007. Regarding the plan, its standard and the alternative were reviewed considering welfare of workers, economic efficiency, technical validity, possibility of agreement and long-term development. The exclusive area per capita was calculated through Labor Standards Act of Korea and status survey of lodging for the workers provided to border line area between China and North Korea and the economic alternative based on one room for 6 persons with the public restroom was compared with that of development type based on one room for 4 persons with indoor restroom. Especially regarding the proposed site, the area with the optimized position was set by considering gradient, accessibility and convenience of development out of the area of Dongchang-ri where was agreed already and the priority of the proposed site that can keep the existing building site and provide was offered. The necessary period for whole construction was set as approximately 36 months. Regarding construction method, RC Rahmen method was selected as the optimized alternative considering the workmanship of manpower of North Korea and conditions of supply and demand of materials and cluster-type vehicle allocation plan based on 4~6 units considering the efficiency of supplying service facilities and convenient facilities along the simultaneous accommodation of 15,000 people was offered. It was analyzed that total business expenses of approximately 80~100 billion Korean Won would required though there were the difference for each alternative in the charged rental way that the development business owner develops by lending the inter-Korea Cooperation Fund and withdraws the rent by the benefit principle. The possibility of withdrawing the rent was analyzed assuming that the period of withdrawing the investment is 30 years. Especially for the operation management after moving, the establishment of the committee of operating the lodging for the workers of Gaesung Industrial Complex (tentative name) was offered with the dualized governance that the constructor takes charge of operational management, collecting fees and management of infrastructure and human resource management is delegated to North Korea.