• The Journal of Economics, Marketing and Management
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• v.11 no.6
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• pp.23-34
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• 2023

Purpose: This study conducted an empirical study to identify the current status of real estate managers' ESG awareness and to derive recommendations for improvement. Research design, data and methodology: A survey was conducted among those who actually manage real estate assets regardless of region. Descriptive statistical analysis, paired sample t-test, and IPA analysis were conducted using SPSS 27.0 statistical package. Results: The results of the t-test showed that respondents perceived their on-site management achievements to be lower than their perceived importance in all areas of ESG. In the IPA matrix, the mean of achievement is higher than 3, which is moderate. Environment (E) was found to be relatively low in importance. In the Social (S) aspect, the achievement level was low compared to its importance, and Governance (G) was found to be low in importance. Conclusions: Based on the analysis, it seems that policies are needed to emphasize the importance of environmental issues such as greenhouse gas reduction in the environment (E) sector and to strengthen realistic achievement in the social (S) and governance (G) sectors.

• Journal of Information Technology Services
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• v.18 no.1
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• pp.13-26
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• 2019

This study analyzes the characteristics of lending-based crowdfunding of various crowdfunding models, identifies the factors affecting the use of the general public, and provides suggestions for the policies set by real estate crowdfunding businesses and related authorities. To analyze the service's adoption from a cognitive perspective, this study developed a new model that combined the Value-based Adoption Model (VAM), motivation theory, and a set of variables that take into account the characteristics of the real estate industry. For empirical analysis, survey was conducted from the general investors of real estate and valid 252 data were utilized by R 3.2.2. The results of this study showed that both government regulation and the perceived risk are hindering the perceived values and intention to use crowdfunding for real estate. In contrast, this research found that among the intrinsic motivation, enjoyment had a significant impact on the perceived value. In addition, it turned out that among the extrinsic motivation, market attractiveness, brand credibility, expected return, and safety and protection had significant impacts on the perceived value. Finally, it showed the perceived value of real estate crowdfunding had a positive impact on the intention to use.

• Korea Real Estate Review
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• v.28 no.3
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• pp.53-64
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• 2018

OECD countries have been stimulating private pensions instead of public pensions because the financial stability of public pensions has been threatened by the aging population. Korea, which has the fastest aging population in the world, has been following the recommended policies of major countries. Unlike major economies, however, most of Korea's household assets are composed of real estate assets. Due to the economic and social importance of real estate assets in Korea, the wealth effect of real estate has been used as a major tool in macroeconomic policy. This study analyzed the effect of real estate value changes on the contribution of private pensions (personal pension + retirement pension). Utilizing a two-way, fixed effect model with the balanced panel data of the National Survey of Tax and Benefit, empirical results presented that the private pension contribution increased by 0.171% when the value of real estate increased by 1%. Thus, real estate value changes were analyzed as positive for retirement preparation through private pension. These results suggested that if the real estate market would shrink in the future, consumption would decrease, and the degree of preparation for retirement might be smaller.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.490-497
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• 2007

Since the foreign currency crisis, Korean economy has suffered recession and the government launches residence and real estate policy in order to increase the demand and trade of real estate and to help the economy revitalization. 1 As a result, the rate of economy growth is shown the high increase with the figure of 10.9% in 1999 and 8.8% in 2000. However, it brings overheating market as a negative effect. Although, the government established the policy for the control of speculation, the policy causes instability of economy. This study is to analyze the effect between the residence policy and the housing cost since the foreign currency crisis through housing sale price estimation and housing lease price estimation and is to apply the basis data of the next residence policy.

• Journal of the Korea Society of Computer and Information
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• v.29 no.7
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• pp.169-179
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• 2024

Currently, information technologies such as blockchain and metaverse are being innovatively developed in Korea and around the world. The government has defined the innovation of these cyber-related technologies as the fourth industrial revolution and presented the Digital New Deal as an important policy of the Korean version of the New Deal, and is implementing various policies and systems related to it. This situation is expected to affect the development of the real estate registration system in Korea. Moreover, as the Supreme Court is currently promoting the transition to a future registration system, it is necessary to examine whether blockchain technology, which allows parties to exchange value without a third party guaranteeing the transaction, can be used in the real estate registration system. In order to secure the credibility of the real estate registration as electronic information under the registration system that introduces electronic registration and blockchain system, the transparency of transaction identification and real estate registration details should also be recorded using the blockchain system as a way to prevent such crimes and legal disputes. As a solution, it is worth considering how to improve the reliability of transaction identification, recognize the actual examination rights of the registrar in the foundation system of the real estate register, and increase public trust by going through the notarization stage when recording rights such as real rights, and consider how to introduce a blockchain system at this stage to ensure integrity and reliability. In the stage before the current real estate registration and study system is converted to a blockchain system, the clarity, transparency, and consistency of the real estate registration entries with the actual real estate must be established so that the real estate study can finally be recognized as authoritative, thereby ensuring the trust of the transaction parties to the real estate study system that has adopted the blockchain system in the future, and bringing us closer to the goal of real estate transactions in the form of smart contracts between the parties who have trusted it based on transparency and integrity of real estate study in the real estate transaction market.

• Journal of Digital Convergence
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• v.17 no.4
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• pp.49-55
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• 2019

This study is on the trend of real estate market using text mining and big data. The data were collected through internet news posted on Naver from August 2016 to August 2017. As a result of TF-IDF analysis, the frequency was high in the order of housing, sale, household, real estate market, and region. Many words related to policies such as loan, government, countermeasures, and regulations were extracted, and the region - related words appeared the most frequently in Seoul. The combination of the words related to the region showed that the frequencies of 'Seoul - Gangnam', 'Seoul - Metropolitan area', 'Gangnam - reconstruction' and 'Seoul - reconstruction' appeared frequently. It can be seen that the people's interest and expectation about the reconstruction of Gangnam area is high.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.93-104
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• 2022

This study aims to investigate the factors that contribute to the sustainable development of 334 Vietnamese construction and real estate companies listed on the Stock Exchange of Vietnam over a 5-year period from 2016 to 2020. By using regression analysis with the support of STATA software through examining the financial statements, which involves looking into crucial ratios including capital structure, profitability, firm size, accounts receivable management, and tangible assets investment, this study sheds light on whether these accounting indicators could help predict the construction and real estate companies growing potential in the future. Nevertheless, these ratios slightly contribute to the explanation of the change in revenue growth ratio, with a result of 1.6%, indicating that the value relevance of accounting information provides a modest and insignificant effect on investment decisions. This is understandable because the Vietnamese construction and real estate market still has many shortcomings in handling unexpected events, as well as the industry's peculiarities related to major capital sources from bank loans. Based on this study, governmental authorities and business executives should plan appropriate risk management policies and measures to contribute to the sustainable development of construction and real estate companies.

• Spatial Information Research
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• v.21 no.6
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• pp.69-80
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• 2013

Our country has made every efforts to develop Real Estate Transaction culture with emphasis on Licensed Realtors by introducing Real Estate Transaction Law in 1983. Also, MOLIT(Ministry of Land, Infrastructure and Transport) designated several organizations including KAR(Korea Association of Realtors) as Real Estate Transaction Information Network Licensees for data credibility enhancement and transaction transparency. Nevertheless, the level of law abiding spirit and transaction culture are still similar to those of the old 'Bokdeokbang' era. The under-developed transaction behaviors prevent the social capital of people's credibility on Licensed Realtors from advancing, and results in the outcomes of unnecessary social cost. That is, very low credibility on the data on Sales Items in the market and the fear of speculative real estate price uprise and market distortions are continuing on. In this context, the purpose of this study is to propose the model of GIS-based Modernized Real Estate Transaction System and its execution policies to support credible Real Estate Information to the general public for efficient transactions in the market. Accordingly, the study aims at contributing to the modernization of Real Estate Transactions, fostering competitiveness of Realtors in the Real Estate Market.

• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.1-10
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• 2024

Purpose: This study conducted an empirical study to estimate the loss aversion rate of individual investors in the Seoul condominium market. Research design, data and methodology: A survey was conducted with Seoul residents ranging from 30's to 60's with various backgrounds. Descriptive statistical analysis and a paired sample t-test were conducted using SPSS 27.0 statistical package. Results: The results of the t-test showed that Seoul residents are indeed more sensitive to loss than gains, as pointed out in various researches related to behavioral economics. Also, the loss aversion rate associated with KRW 50 million risk was found to be 2.14. Finally, the same question was asked with KRW 100 million risk, doubled associated risk of previous question, using the same scenario, and it's been verified that the loss aversion rate increases as the associated risk or stake increases. The loss aversion rate with double risk is 2.26 which is about 5% higher than the one with KRW 50 million risk. Conclusions: This study can help many groups of people in society who need to establish rewards and punishment policies within any organization. In particular, incorporating human cognitive biases, such as loss aversion can help the South Korean government shape more effective reward and punishment policies when building rewards and punishments using taxes.

• Korean Journal of Construction Engineering and Management
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• v.9 no.2
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• pp.146-158
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• 2008

This paper examines the relationship between the real estate policies of Korean government and the stock market of Korea. It is the purpose of this paper whether the government policies are effective or not when the Korean government release new real estate policies outlining higher taxes and more housing supply as part of its plan to suppress speculation. This paper studies the properties of daily stock returns of the construction sector in Korea securities market when the government announcements of the real estate policies are released. On the demand side, multiple home owners and those purchasing property for speculative purposes are expected to be hit the hardest If the government policies are effective. The empirical results of this paper show that most of the cumulative abnormal returns(CARs) are statistically significant from the year 2002 to the year 2006 except the year 2004.