• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.135-149
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• 1990

Housing owners in Korea have a variety of tax advantages such as income tax exemption for the imputed rent of owner-occupied housing, exemption from the capital gains tax and deduction of the estate tax for one-house households. These tax reliefs for housing owners not only conflict with the principle of horizontal and vertical equity, but also lead to resource misallocation by distorting the housing market, and thus bring about regressive distribution effects. Particularly in the case of Korea with its imperfect capital market, these measures exacerbate the inter-class inequality of housing ownership as well as inequalities in wealth, by causing the affluent to demand needlessly large housing, while the poor and young experience difficulties in purchasing residential properties. Therefore, the Korean tax system must be altered as follows in order to disadvantage owner-occupiers, especially those owners of luxury housing. These alterations will promote housing-ownership, tax burden equity, efficiency of resource allocation, as well as the desirable distribution of income. First, income tax deductions for the rent payments of tenants are recommended. Ideally, the way of recovering the fiscal equivalence between the owner-occupiers and tenants is to levy an income tax on the former's imputed rents, and if necessary to give them tax credits. This, however, would be very difficult from a practical viewpoint, because the general public may perceive the concept of "imputed rent" as cumbersome. Computing the imputed rent also entails administrative costs, rendering quite reasonable, the continued exemption of imputed rent from taxation with the simultaneous deduction in the income tax for tenants. This would further enhance the administrative efficiency of income tax collection by easing assessment of the landlord's income. Second, a capital gains tax should be levied on the one-house household, except with the postponement of payments in the case that the seller purchases higher priced property. Exemption of the capital gains tax for the one-house household favors those who have more expensive housing, providing an incentive to the rich to hold even larger residences, and to the constructors to build more luxurious housing to meet the demand. So it is not desirable to sustain the current one-house household exemption while merely supplementing it with fastidious measures. Rather, the rule must be abolished completely with the concurrent reform of the deduction system and lowering of the tax rate, measures which the author believes will help optimize the capital gains tax incidence. Finally, discontinuation of the housing exemption for the heir is suggested. Consequent increases in the tax burden of the middle class could be mitigated by a reduction in the rate. This applies to the following specific exemptions as well, namely, for farm lands, meadows, woods, business fields-to foster horizontal equity, while denying speculation on land that leads to a loss in allocative efficiency. Moreover, imperfections in the Korean capital market have disallowed the provision of long term credit for housing seekers. Remedying these problems is essential to the promotion of greater housing ownership by the low and middle income classes. It is also certain that a government subsidy be focused on the poorest of the poor who cannot afford even to think of owning a housing.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.1
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• pp.37-64
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• 2007

The purpose of this study is verifying which financial property of a venture company listed in KOSDAQ is a primary factor to determine Highly Successful company or Less Successful one. For sampling, I classified 405 venture companies, whose averages for 2005 of 2 standards are In the 30% high/low rank, as Highly Successful/Less Successful companies subject to the higher Operating Income to Total Assets and Return on Invested Capital (ROIC), the Highly Successful company. And I verified which variable is most important one to distinguish between Highly Successful companies and Less Successful ones among 24 financial ratios selected through preceding studies. For the analysis, I firstly extracted analogous variables by Stepwise Method and secondly carried out Multi variate Discriminant Analysis. The result mainly shows variables related to returns and stability similar to preceding studies. Especially, Operating Income to Total Assets reveals most reliable variable distinguishing between Highly Successful company and Less Successful one, whereas Current Ratio does not. When reliability of function formula of variables were compared with Operating Income to Total Assets standard and ROIC standard, there was almost no difference.

• 사회경제평론
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• v.31 no.3
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• pp.203-237
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• 2018

This paper critically studies Meidner's wage-earner funds project. On the basis of this, this paper intends to create new prospects for a universal welfare regime. From the perspective of the welfare system, the funds project is a correction or supplement of the Swedish welfare system of the Swedish model centered on 'redistribution'. However, the funds project shares the ideology of Swedish model and its fundamental premise, I.e. guild socialism and labor-centrism. This paper discusses the limitations of the funds project resulting from this, especially with regard to its three purposes: equalization of property distribution, economic democracy and the correction of excess profit. It then highlights that the alternative to overcome the limitations of the funds project and the Swedish universal welfare system should be based on a new ideology and fundamental premise that is cut off from guild socialism and labor centrism. As an alternative fulfilling this, this paper focuses on theories that suggest that the Common Wealth Fund should be created and basic income should be implemented in the form of dividends as its dividend. As a result, Commons Capital Stock and the basic income as its dividend are presented as alternative prospects for the funds project.

• Health Policy and Management
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• v.30 no.4
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• pp.460-466
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• 2020

Background: The purpose of this study is to analyze whether there is a change in patterns of medical use among those likely to be converted their health insurance qualifications when the family support rule is alleviated. There is no empirical analysis that converting health insurance qualification will affect the increase in medical use. Methods: For analysis, data were extracted from the national health insurance eligibility and medical care database. To identify analysis targets similar to that of medical aids' characteristics among health insurance coverage, we compared income, property level, and medical use patterns through basic statistical analysis and used a difference-in-difference (DID) analysis to estimate the net effect of changes in medical use following the change of qualifications. Results: The main results are as follows. The results show that those who are under the 5% income group (1st income group) of health insurance coverage are the most similar to the medical aids group. DID analysis shows that changes in the medical use of people who maintain their national insurance qualification and who are not. As a results, the number of hospitalized days of converting group was reduced by 3.5 days while outpatient days were increased by 1.8 days. Conclusion: As a result, there was not much difference in the patterns of medical use for the under 5% income group who are likely to be eligible for expanded medical aids when the family support rule is alleviated. In addition, more than 30% of them are in arrears with their health insurance premiums, causing inconvenience in using medical services. These findings suggest the need of abolishing the criteria obligated to support family, and great efforts should be made to contribute to non-paid poor and remove their medical blind spot.

• Analyses & Alternatives
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• v.7 no.2
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• pp.35-77
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• 2023

This study aims to solve the entangled loop between demographic transition (DT) and economic growth by analyzing cross-country data. We undertake a national-level group analysis to verify the compressed transition of demographic variables over time. Assuming that the LA (latecomer advantage) on DT over time exists, we verify that the DT of the latecomer is compressed by providing a formal proof of LA on DT over income. As a DT has the double-kinked functions of income, we check them in multiple aspects: early maturation, leftward threshold, and steeper descent under a contour map and econometric methods. We find that the developing countries (the latecomer) have speedy DT (CDT, compressed DT) as well as speedy income such that DT of the latecomers starts at lower levels of income, lasts for a shorter period, and finishes at the earlier stage of economic development compared to that of developed countries (the early mover). To check the balance of DT, we classify countries into four groups of DT---balanced, slow, unilateral, and rapid transition countries. We identify that the main causes of rapid transition are due to the strong family planning programs of the government. Finally, we check the effect of latecomer's CDT on economic growth inversely: we undertake the simulation of the CDT effect on economic growth and the aging process for the latecomer. A worrying result is that the CDT of the latecomer shows a sharp upturn of the working-age population, followed by a sharp downturn in a short period. Compared to early-mover countries, the latecomer countries cannot buy more time to accommodate the workable population for the period of demographic bonus and prepare their aging societies for demographic onus. Thus, we conclude that CDT is not necessarily advantageous to developing countries. These outcomes of the latecomer's CDT can be re-interpreted as follows. Developing countries need power sources to pump up economic development, such as the following production factors: labor, physical and financial capital, and economic systems. As for labor, the properties of early maturation and leftward thresholds on DTs of the latecomer mean that demographic movement occurs at an unusually early stage of economic development; this is similar to a plane that leaks fuel before or just before take-off, with the result that it no longer flies higher or farther. What is worse, the property of steeper descent represents the falling speed of a plane so that it cannot be sustained at higher levels, and then plummets to all-time lows.

• Korean Security Journal
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• no.6
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• pp.273-289
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• 2003

The purpose of this study is to explore the underlying causes of the development of private security in the United States. These include the increasing crime rates and fear of crime, the poor performance of public policing, the decentralization of political authority, the increase of mass private property, economic growth and increase of personal income, commodification of security, insurance companies' demand for tighter security and fear of litigation, and historical events such as World War I & II. Based on the findings of this study, it is suggested that no single factor would account for the growth of private security in the United States. In other words, the rapid growth of private security in the United States should be attributed to the interrelated influences of the factors given above. Finally, it might be the contribution of this study that the future development of private security in Korea would be guided by understanding the case of the United States because of the similarities of the developmental process in private security industry of two countries.

• Korean Journal of Human Ecology
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• v.4 no.1
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• pp.39-50
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• 1995

To determine contribution rate to matrimonial wealth accumulation of urban housewives, a survey was made toward them by using questionaires from September 1994 to October 1994. Three hundred-eighteen housewives were randomly selected from Pusan area. The results obtained were as follows. Average contributing rate to household income was 65.7 percent for husbands and 34.3 percent for wives. The contribution rates evaluated by themselves of wives were 38.1 percent for the house property; 36.5 percent for the savings; 9.6 percent for the real estate; 5.2 percent for the land; 9.3 percent for the stocks & bonds; and 9.2 percent for others. It is suggested that 50 percent and over 50 percent of matrimonial properties have to be recognized to the wives who changed their occupations to house work and employed wives, respectively.

• Korean Journal of Organic Agriculture
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• v.21 no.4
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• pp.501-522
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• 2013

This study has performed comparative analysis on benefit indicators in agricultural irrigation and drainage project cases between Korea and Japan. The irrigation and drainage project with publicity should do economic analysis of direct benefit factors as well as indirect benefit factors. However, traditional economic evaluations are used that benefit factors are lack of consistency and focused on direct benefits. Therefore, the purpose of this study was to develop indicators for the economic evaluation of irrigation and drainage projects. We conducted a case study between Korea and Japan. The resulting benefit factors was divided into direct factors and indirect factors. The direct benefit factors were increase in income, cost savings. The indirect benefit factors were protection of property due to flooding, agricultural promotion, aesthetic improvement. The implications of this study are that the indicators of economic analysis can be evaluated and easily applied. Moreover, these indicators could promote the feasibility of economic analysis.

• Journal of the Korean Home Economics Association
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• v.37 no.8
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• pp.117-132
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• 1999

This study analyzed how not only socio-economic variables but also lifestyle variables affect the expenditure and the patterns of households. The result of multiple regression analysis resealed that economic variables(e.g, income, saving, property) and lifestyle variable(e.g, enjoyment and convenience seeking type) affected the consumption expenditure. Based on the result of cluster analysis, The consumption expenditure patterns of urban households were separated as 1)necessity dominant pattern, 2)transportation $.$ communication dominant patters, 3)other consumption dominant pattern, 4)education$.$culture and recreation dominant pattern. The result of logistic analysis revealed that debt, saying and living location variables were major factors to determine the consumption expenditure patterns of urban households. But did not Influence on the Consumption Expenditure Patterns.

• International Journal of Human Ecology
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• v.2 no.1
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• pp.17-38
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• 2001

The purpose of this study is to take a new look at factors affecting the spending of retired elderly households by identifying the effects of different types of wealth components, along with socio-demographic factors, on current consumption. A tobit linear regression model was utilized to estimate parameters in the consumption functions. Data was drawn from the 1990 Consumer Expenditure Survey, Interview Survey in the United States.Total consumption and various consumption categories were the most responsive to changes in annual income flow and the least responsive to changes in property assets. The four wealth components differed in their influence on consumption categories among retired elderly households. In addition, age, residential area, household type, and education were found to be significant factors affecting total consumption and consumption categories of the retired elderly.