• Land and Housing Review
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• v.5 no.3
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• pp.137-149
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• 2014

The authors derived rental housing policy measures that are appropriate for the current conditions of Korean housing supply and demand based on the confirmation of the issues of Korean rental housing system and reviewing implications from review of cases of foreign countries and these measures can be categorized into linkage with the urban regeneration and multi-functional development, acquisition of financial resources, operational management, policy and institutional aspects. For the expansion of supply of rental housing, it is essential to link the rental housing policy with urban regeneration. To pursue regeneration of underdeveloped areas and expansion of supply of rental housing in line with urban regeneration, more development sites should be added. Further, the rental home policy must be integrated into a new paradigm that includes securing commercial viability and providing various residential conveniences through multi-functional development. In addition, diversification of developers of real estates turning away from the existing framework of policy that has been focused only on the state-led housing supply so that local governments and private sector players can take part in. Next, new options for funding the supply of rental housing must be sought. First, raising financial resources sequentially through cyclical development approach could be considered. Or, various funding schemes including utilizing Tax-increment financing (TIF) based on the local tax revenues that will be accrued after the development projects and supply of rental housing. Or there should be various schemes to raise funds including utilization of TIFs that are based on the revenues that will be realized after the development projects and supply of rental housing, or utilizing REITs where funds can be provided through private sector investments. Also, getting out from the planning practice that focused only on physical expansion of supply of rental housing, continual operational management must be performed even after the development. These activities must be supported through establishment of control tower at the national level and continuous attention must be paid even after the development by developing specialized operational management companies that are led by private sector players. Finally, in addition to the hardware support that is focused on the public rental housing only, software support such as conditional provision of housing voucher or tax exemption for low-income classes should be provided, too. In other words, a shift from policies that are supplier-centric to ones that are customer-centric must take place.

• Korean journal of communication and information
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• v.63
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• pp.5-25
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• 2013

Korean society suffers from severe divisions represented by bi-polarization and collapse of the middle class. Intensive demanding on expanding social welfare budget has emerged in accordance with such a dramatic shift. Social consensus moving toward well-financed welfare policy, however, happens to meet political opposition supported by the discourse of fiscal soundness. This paper thus pays particular attention to deciphering the discursive structure in way of understanding how discourses bring public policy into play. For this purpose, news articles about fiscal soundness collected from 8 national newspapers have been analyzed in terms of frame, attitude, perspective and world view. Research results show, first of all, that there exist persistent competition between two frames identified as 'reduced tax with fiscal discipline' and 'increased tax with welfare money.' While the 'reduced tax' frame favors in maintaining tax cut at the expense of welfare budjet, the frame of 'increased tax' supports such arguments as the flexible employment of fiscal soundness and prosperity of national community helped by widening tax revenues. Also did these frames include a number of sub-frames like welfare populism, partisan politics, trickle down effect, tax bonanza for the rich, universal welfare and market over-reactions in order to bolster its logical authority. Media's active taking a part in penetrating supportive frames in line with political stance was found as well. Taking into account both the discursive structure upheld by frames and politics materialized by the media, the authors argue that public policies should be considered more as discourse than fixed reality. Shedding additional light on understanding the interplay among public opinion, policies and media discourse is of another importance for further study.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.9
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• pp.4524-4531
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• 2013

Recently, there are increased importance on introducing Tax Incremental Financing as a means of project financing for urban regeneration. Values of implementing this financing method based on future revenue has to be considered not just as self-financing methods but as possibilities building virtuous circular structure in urban developments. In respond to domestic problems in developments led by private sector, it reinforces public sector's roles by providing finance from the beginning of development. This provides concomitant structural & institutional supports for increasing not only social values for the public but also revenues for private developers. Therefore, this study starts with theoretical background study on TIF as well-known example, then analyzes PILOT used on Hudson Yard Development in NYC as an unique example sharing identical structural & conceptual characteristics. With these process, the study deducts suggestive implications on Tax Incremental Financing possibly reflected on domestic situation.

• Korean System Dynamics Review
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• v.9 no.2
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• pp.105-128
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• 2008

City of Gyeongju's referendum finally offered the long-waited low-level radioactive waste disposal site in November 2005. Gyeongju's positive decision was due to the various economic rewards and incentives the national government promised to the city. 300 billion won for an accepting bonus, the location of the headquarter building of the Korean Hydro and Nuclear Power Co., and the accelerator research center and 3.25 trillion won for supporting regional development program implementation. All of the above will affect the city's infrastructure and the citizens' economic and social lives. Population, land use, economic structure, SOC and quality of life will be affected. Some will be very positive, and some will be negative. This research project will see the future of the city and forecast the demographic, economic, physical and environmental changes of the city via computer simulation's system dynamics technique. This kind of simulation will help City of Gyeongju's what to prepare for the future. The population forecasting of the year 2046 will be 662,424 with the waste disposal site, and 327,274 without the waste disposal site in Gyeongju. The waste disposal site and regional supporting program will increase 184,246 Jobs more with 1,605 agriculture and fishery, 5,369 manufacturing shops and 27,577 shops. The population increase will bring 96,726 more houses constructed in the city. Land use will also be affected. More land will be developed. And road, water plant and waste water plant will be expanded as much. The city's financial structure will be expanded, due to the increased revenues from the waste disposal site, and property tax revenues from the middle-class employees of the company, and the high-powered scientists and technologists from the accelerator research center. All in all, the future of the city will be brighter after operating the nuclear waste disposal site inside the city.

• Journal of the Korean Regional Science Association
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• v.15 no.1
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• pp.75-92
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• 1999

In this study, the present state of fiscal crisis for local governments after IMF is analyzed, firstly. its implications Characteristics of structural reform of finance after IMF bailout in Korea are examined, secondly. Since Korea was shocked by the currency crisis at the end of 1997, its local governments have also faced fiscal difficulties. The Depression of national and local economies led to decreases in tax revenues of local governments. And these shrunken revenues led to their expenditure cuts. Many investment plans were curtailed, and ordinary expenditures were also reduced sharply. The negative influences of the currency crisis on local government's finances can be examined in terms of fiscal revenue, fiscal spending, and debt burden. As a result many local governments are now experiencing fiscal stress, and some of them are even faced with fiscal crisis although the possibility of extreme measures, such as moratoriums or bankruptcies, is very slim. This is due in part to the weight of debt in local governments' budgets having remained small since the debt of local governments has been controlled by the central government. Another reason is that, central government, which functions as a lender of last resort for the local governments, will pay the debt for them. Also, without a legal system which stipulates the adjudication of bankruptcy for municipalities in Korea, local Korean governments have no legal right to declare bankruptcy. Although not a single municipality has fallen into insolvency, yet, this trend will continue to deepen as the recession continues and may lead to a situation where manu local governments fall into virtual bankruptcy in the near future, and its effects on society, as a whole, will be serious. Therefore, measures to prevent and overcome such an extreme situation are necessary, but both short-and long-term policies should be to cope with the current fiscal crisis and to prevent the deepening of the current situation.

• Korean System Dynamics Review
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• v.7 no.1
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• pp.119-146
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• 2006

City of Gyeongju's referendum finally offered the long-waited low-level radioactive waste disposal site in November 2005. Gyeongju's positive decision was due to the various economic rewards and incentives the national government promised to the city. 300 million won for an accepting bonus, 8.5 billion won, annual revenue fro the entry quantity of waste into the city's disposal site, the location of the headquarter building of the Korean Hydro and Nuclear Power Co., and the accelerator research center. All of the above will affect the city's infrastructure and the citizens' economic and cultural lives. Population, land use, economic structure, environment and quality of life will be affected. Some will be very positive, and some will be positive. This research project will see the future of the city and forecast the demographic, economic, physical and environmental changes of the city via computer simulation's system dynamics technique. This kind of simulation will help City of Gyeongju's what to prepare for the future. The population forecasting of the year 2026 will be 289,069 with the waste disposal site, and 279,131 without the waste disposal site in Gyeongju. The waste disposal site and the relocation of the company headquarters and location of the accelerator research center will attract 9,938 individuals more with 511 manufacturing shops and 1944 service jobs. The population increase will bring 3,550 more houses constructed in the city. Land use will also be affected. More land will be developed. However, mad, water plant and waste water plant will not be expanded as much. The city's financial structure will be expanded, due to the increased revenues from the waste disposal site, and property tax revenues from the middle-class employees of the company, and the high-powered scientists and technologists from the accelerator research center. All in an, the future of the city will be brighter after operating the nuclear waste disposal site inside the city.

• Journal of the Korean association of regional geographers
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• v.12 no.2
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• pp.305-322
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• 2006

An increasing number of cities employ rescaling strategies that not only construct metropolitan production network scaled down from national context, but also tune up new governance to effectively control local geographies of the city. In this context, urban redevelopment has emerged a key 'global' strategy to empower governmental institutions of the city, which not only eliminate such threatening spatial variables as deteriorated housing, working-class ghettos, and crime areas, but also increase and extract exchange value of those spaces. I view such practices a process of 'glurbanization'. This paper investigates how state/city government employs the discourse of urban re/development for 'inventing' poverty at an urban scale: how it institutionalizes the discourse for implementing concrete projects: and how urban institutional apparatus appropriate their discursive practices of redevelopment for their own ends in the city. By particularly focusing on the California Redevelopment Law and the Community Redevelopment Agency of the City of Los Angeles, this paper analyzes the ways in which the law and the agency extract value from what they define 'blight areas' by means of eminent domain and tax increment revenues. For empirical analysis I employ discourse analysis and institutional ethnography. I conclusively argue that the urban spaces stigmatized as 'blight areas' are increasingly entrapped by the urban redevelopment agency, which extracts increased exchange value from the areas and redirects it for supporting external investors, private developers, and the body of the agency itself.

• Journal of the Korean Society for Library and Information Science
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• v.23
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• pp.263-301
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• 1992

In recent years, Korean public libraries, placed under changing circumstances, require that some new and positive financial policies be formulated for the improvement of their services. T he purpose of this study is to propose a scheme to ensure the revenues of Korean public libraries. The main contents of this study are as follows : (1) Public finance theory is applied to the question of why the public library is publicly supported. The public library does not contribute to stabilization, but it does playa role in each of the other public sector functions : allocation of resources and redistribution of income. In public finance terms there is justification for at least partial subsidy of public library services, which have the attributes of public goods, merit goods and externalities. (2) Public libraries in Korea find themselves suffering from limited budgets. They are neglected in national and local budgets. The lack of adequate funding for library collections prevents libraries from rendering efficient services. (3) In order to put the finances of the Korean public library system on a firm basis, the following proposals are made: 1) It is proposed that the parallel administration under which public libraries are organized be unified to be directly under the local governments. 2) It is proposed that the legislative and administrative system for public library finance be strengthened. (1) Library expenses should be itemized independently in the calculation of general grants-in-aid to local governments. (2) A fixed portion of the total municipal revenue should be appropriated for public library services. It can be executed by making provisions expressly in the annual guidelines for budgeting, municipal ordinances, or in the Library Promotion Law. The rate of allocation should be specified as a part of the national public library development plan. (3) Library tax as a local tax can be imposed. An indirect tax is preferable in order to avoid public misunderstanding and antagonism. 3) The augmentation of the specific grants-in-aid for the public library is proposed. The Library Promotion Law and the Law on Budget and Administration of Grants should be amended to oblige the central government to give financial assistance to local public libraries. 4) It is proposed that strategies to encourage private endowments be worked out. Revision of the Law on Tax Reduction and Exemption and the activation of an advisory library committee at each public library are recommended. 5) Funding and utilization of the envisioned Library Promotion Foundation is proposed. Government contributions, contributions from the Culture and Arts Foundation, and donations from individuals, corporations, and enterprises can be considered as the financial resources of the Foundation. 6) It is proposed that the structure of the Korean Library Association be consolidated to exercise greater influence over the formation of national policy on the public library system. 7) It is proposed as an ultimate guarantee of the health of the public libraries that the citizenry be educated to strongly support library services in responce to the active services provided by the public libraries.

• Asian Pacific Journal of Cancer Prevention
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• v.16 no.13
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• pp.5579-5582
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• 2015

Background: Sale of single cigarettes is an important factor for early experimentation, initiation and persistence of tobacco use and a vital factor in the smoking epidemic in India as it is globally. Single cigarettes also promote the sale of illicit cigarettes and neutralises the effect of pack warnings and effective taxation, making tobacco more accessible and affordable to minors. This is the first study to our knowledge which estimates the size of the single stick market in India. Materials and Methods: In February 2014, a 10 jurisdiction survey was conducted across India to estimate the sale of cigarettes in packs and sticks, by brands and price over a full business day. Results: We estimate that nearly 75% of all cigarettes are sold as single sticks annually, which translates to nearly half a billion US dollars or 30 percent of the India's excise revenues from all cigarettes. This is the price which the consumers pay but is not captured through tax and therefore pervades into an informal economy. Conclusions: Tracking the retail price of single cigarettes is an efficient way to determine the willingness to pay by cigarette smokers and is a possible method to determine the tax rates in the absence of any other rationale.

• KDI Journal of Economic Policy
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• v.23 no.1_2
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• pp.71-147
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• 2001

The structural balance is obtained by neutralizing the impact of economic cycles on the actual balance. It is often used as an indicator of the long-term stability of government finance and as a measure of fiscal stance. Many countries nowadays produce and report the estimates of their structural balances regularly, and the IMF recently advised the Korean government to adopt this practice for better fiscal transparency. This paper surveys the methodologies employed by the OECD secretariat and the IMF to estimate structural balances and apply them to the Korean data. It then computes the fiscal impulse indicator (FI) and suggests a decomposition of FI into the changes in structural expenditures and revenues. In addition, primary and operational balances are estimated. The estimated series of structural balances, one by the OECD methodology and the other by the IMF, show no sizable difference from each other. These series also follow the actual series of budget balance quite closely. The latter characteristic stems from two factors, namely the rather small GDP gap and the rather small size of the tax revenue as a share of GDP. The impulse indicator estimated for the last three decades indicates that the fiscal stance in Korea contributed to smoothing the economic cycles in about half of the times. In particular, the fiscal tightening in the early 1980s to reduce inflation resulted in a pro-cyclical movement in fiscal stance as did the expansionary policy in the early 1990s. The overall performance, however, is not bad when compared with those of other countries.