• KDI Journal of Economic Policy
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• v.33 no.3
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• pp.163-209
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• 2011

This study empirically analyzes whether political rent-seeking behavior exits in Korea. The empirical analysis shows that there is a cyclical decline in aggregate revenue immediately following the election year. However, when using other aggregate fiscal variables including aggregate revenue, fiscal balance, tax and public burden ratio, no such cyclical deterioration are found. By sector, the expenditures of the economic affairs show a cyclical increase in the year right after the election. In addition, as the ratio of ruling party senators to total senators is high, the expenditures of the economic affairs tend to increase more and this tendency becomes more stronger right after the presidential election year. Such a result turns out to be consistent even when the expenditure was analyzed separately from the mandatory and discretionary expenditures by sector. This is a testimony to the existence of political rent-seeking behavior in Korea.

• Korean Journal of Social Welfare
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• v.68 no.3
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• pp.29-50
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• 2016

This study examined the determinants of housing affordability using the 2014 fact-finding survey of housing. This study identified the effects of characters of districts as well as the effects of characters of family and housing, taking advantage of HGLM(Hierarchical General Linear Model). The results of this study showed that male householder, higher education level, the monthly housing, higher satisfaction of environment of housing are the factors that increased the odds of living at unaffordable housing, but higher income, public transfer recipient, living at sub-standard housing, the Jensei housing are the factors that decreased the odds of living at unaffordable housing. And the higher housing price, the higher rent of the districts increased significantly the odds of living at unaffordable housing, but the higher rate of public housing of the districts decreased the odds of living at unaffordable housing. This study provides the basis that the price of housing and rent should be controled and the policy of public housing should be expanded for housing welfare.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2002.11a
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• pp.307-313
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• 2002

Urban style row-rise houses for rent have been supplied to the center of city from the 1950's first half The amount of stock is about 450,000 houses and occupies about 40％ in the private rented house. As for the structure, the 60％ of them is wooden-structure and the rest is non-wooden. Stocks of 57.5％ of the wooden-structure and 86％ of the non-wooden were built after 1981 years. It was 1981 years that the new earthquake-resistant standard was carried out, the improvement of stocks built before 1981 is necessary because those don't satisfy the present standard. To investigate the renovation possibility of urban style row-rise houses for rent, actual situation of two-story apartment at 2,4, and 5 Chome Taito-Ku in Tokyo was surveyed from July to November 2001. The number of building analyzed is 227 ridges among 234 ridges of the surveyed two-story building. 90％ of building analyzed is wooden structure. 1) The site of 88％ building surveyed is close to a road less than 4m width. It becomes the existing non-conformed building in the building construction act. It is impossible to make a renovation such as rebuilding, extension and remodeling because it requires the set back when renovating this type of non-conformed building, 2) The building built before 1981 is almost wooden-structure, and occupies 37％ of the building surveyed, and doesn't satisfy the present earthquake-resistant standard. An improvement of them is needed because the decrepitude of building proceeds. 3) 50％ of openings and 40％ of windows of the building surveyed doesn't use noncombustible materials. Though it becomes the existing non-conformed building, it can satisfy the present standard by replacing openings with noncombustible materials.

• Journal of Digital Convergence
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• v.17 no.1
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• pp.55-62
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• 2019

This study analyzed the relationship between housing price, purchase price, Gini coefficient, interest rate, and the employment, considering that the change in housing price was an important factor influencing macroeconomic variables and income inequality. The panel VAR model was constructed considering the panel data, and the Granger causality, Impulse response and Variance dispersion analysis were performed. As a result, when compared to before and after the global financial crisis, it was shown that the rent price had an effect on income inequality, but in the following period, both the rent price and the selling price affected the income inequality. And that it has a large impact on inequality. In addition, the causality between income inequality and employment rate, interest rate, and tax rate was confirmed. Therefore, it is expected that it will be a desirable policy to mitigate income inequality considering the influence of policy variables for economic activation including government real estate policy.

• Korea Trade Review
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• v.48 no.3
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• pp.177-197
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• 2023

The rent seeking behavior of monopolistic online platform enterprises against digital contents suppliers is similar to the importing countries transfers the monopoly profit acquired by exporting companies in the imperfectly competitive market through optimal tariffs. If such an optimal tariffs imposing mechanism of importing countries, according to so-called strategic trade policy theories, is applied to the rent-seeking behavior of online platform companies, important insights can be obtained in discussions on regulatory reform. In other words, if an online platform enterprises impose a differentiated fee on each contents-suppliers in a monopolistically competitive markets that pursues contents differentiation through R&D investment, it would reduce the innovation investment by contents suppliers. Nevertheless, profit-maximizing online platform enterprises would not voluntarily give up the discriminatory fee system. Therefore, we would like to propose the introduction of a regulation that can force the introduction of an non-discriminatory fee system for all the contents suppliers.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.12 no.6
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• pp.643-656
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• 2019

The development of hot social networking services, including the Internet, has transformed rental car services into IT-based car-sharing services. The car-sharing service is a service that allows people to rent cars online without having to face-to-face. It has become the preffered service among young people who are accustomed to drinking and eating alone. Users can use their smartphones to book their types of cars and hours of rent, and then go to a nearby designated parking lot to use their reserved cars. You can open a designated car door with a smart phone and drive. It is a very convenient service to pay for the distance you drive. However, the car-sharing service already in use in business has the following problems: underage who do not have a driver's license may drive a car borrowed by an acquaintance, the status of a license registered at the time of join membership with a car-sharing company may change to a suspension or cancellation of a license while renting and driving, or even a drunk person may rent a car and drive. In this paper, the method to solve these problems has been studied and proposed. The proposed method is to reduce the cost of investment by a car-sharing service provider and to minimize user inconvenience. And, it was compared and analyzed with the existing method. For the method to be used efficiently, the active operation of the car-sharing company and the government's policies will have to be supported.

• Journal of the Korean Regional Science Association
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• v.32 no.3
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• pp.17-27
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• 2016

In order to solve the problem of how to estimate the residential segregation, the Spatial Concentration Index(SCI) and Location quotient(LQ) are able to be one of alternative methods, and a comprehensive analysis of the residential segregation phenomenon in the seoul metropolitan area is the aim of the study. The results of SCI show that residential concentration areas in low-rent are some Gyeonggi-do's downtown(Bucheon-si, Suwon-si) as well as rural and urban-rural complex outskirts of the metropolitan area. The results of changing of SCI from 2011 to 2014, downward changes appeared thirteen districts and upward changes appeared fourteen districts. Especially downward change district was Sosa-gu, Bucheon-si and upward change district was Yeongtong-gu, Suwon-si. In conclusion, that high rent level groups are more concentration on specific area than low rent level groups. By decreasing residential concentration districts in low-rent level group, 'diversity' districts have been increasing in seoul metropolitan but the phenomenon of residential concentration in high and low level group have been being intensified. These results could be confirmed by quantitative through LQ. Methodologically LQ would strengthen the explanatory power of SCI, and ongoing research of SCI in conjunction with other quantitative methods will need.

• Korean Journal of Construction Engineering and Management
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• v.21 no.5
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• pp.29-37
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• 2020

This study analyzed the importance of factors according to the investor's perspective through a survey of residential real estate experts using AHP and fuzzy theory. Analysis results showed that rent, profitability, traffic accessibility, commercial and infrastructure, and financial regulation are important in common. By expert group, financial and credit groups cited profitability, rent, traffic accessibility, supply and tax benefits, construction and development groups cited traffic accessibility, rent, direct access, profitability, commercial area and infrastructure, and appraisal and evaluation groups cited rent, profitability, transportation accessibility, financial regulation and supply as the most important factors. This showed that it had a preference characteristic that was associated with work. In other words, it focuses most on the financial perspective in investment characteristics, and it values convenience such as accessibility to transportation and commercial districts and infrastructure as its location characteristics. In addition, it was found that easing financial regulations in the market is important to expand investment in real estate. This study aims to help the business feasibility analysis of residential property developers and rational decision-making of general investors who are consumers, taking into account the various perspectives of the expert group.

• KDI Journal of Economic Policy
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• v.45 no.4
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• pp.57-77
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• 2023

The Chonsei component holds the highest level of weight (5.4%) in the composition of the Korean consumer price index (CPI). The variations in Chonsei prices are directly reflected in the CPI as a representation of cost swings. The Chonsei refers to a deposit that accumulates the costs related to housing services and is mostly affected by variations in rental rates. Nevertheless, it is important to note that Chonsei prices are also susceptible to fluctuations in interest rates, regardless of the rent prices. Therefore, if Chonsei were directly and one-to-one indexed to the CPI, they could include changes other than residential service prices. After analyzing the time series data of the Chonsei index and rent index inside the CPI, it becomes apparent that the Chonsei index displays an average annual growth rate of 2.3%, whilst the rent index reveals a growth rate of 0.9%. The observed disparity in growth rates indicates a divergence in trends between the two indices. It is posited that the Chonsei index, when capitalized, has had a more rapid increase compared to the rental index, owing to the gradual drop in interest rates. To effectively reflect fluctuations in the housing service costs, proxies for the Chonsei index were utilized in the construction of a consumer price index. The findings of our study suggest that, overall, the newly developed CPI demonstrates a comparatively lower rate of inflation when compared to the official CPI. Furthermore, the inclusion of imputed rents for owner-occupied housing in CPI amplifies this effect.

• Land and Housing Review
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• v.14 no.4
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• pp.47-62
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• 2023

Using the dynamic panel model, this study investigates rent determinants for small and medium-sized office buildings in Korea's CBD and Gangnam areas, key business districts. The results reveal that rents for small and medium-sized office buildings in CBD and Gangnam areas are influenced by macroeconomic fluctuations and characteristics of buildings and locations, suggesting a market with both spatial consumer and investment goods attributes. There are several investment implications as follows. First, even if the location in the CBD area is advantageous, the practical limitations in renovating aging small and medium-sized office buildings must be taken into account when investing. Second, parking conditions are a key factor influencing rent prices in CBD areas, so evaluating the parking facilities and improvement potential of small and medium-sized office buildings is essential for investors. Finally, due to the high sensitivity of Gangnam's small and medium-sized office market to macroeconomic trends, it's vital to prioritize monetary policy shifts as a key factor in investment decisions.