• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.153-164
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• 2012

Since the sub-prime mortgage crisis from the US in 2008, Korean housing market has plummeted. However, Korean local lease contract, Chonsei, price has been increasing. This increase of Chonsei price can be a threat to the low-income people because most of them prefer to live at the house with a Chonsei contract. In order to solve this problem, the Korean Government implemented several Chonsei policies to secure low-incomers' residence by decreasing the price of Chonsei; however, due to the lack of understanding on housing and Chonsei market, Korean government policy seemed to fail on getting effective results. In the housing and Chonsei market, there are many stakeholders with their own interest, hence, simple thoughts about housing and Chonsei market, such as more house supply will decrease house price, would not work in a real complex housing market. In this research, we suggests system dynamics conceptual model which consists of causal-loop-diagrams for the Chonsei market as well as the housing market. In addition, we tries to explain why the policy did not work effectively using the examples from the government's past measures. In results, Chonsei price has its own homeostasis characteristic and different price movement with housing price in the short and long term period. Unless government does not have a structural causation mind in implementing policies in the real estate market, the government may not attain intended effectiveness on both markets.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.682-691
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• 2016

The purpose of this study is to explore the causal and precedence relationships between the housing sub-market and the results of a consumer sentiment survey about the housing market. This study investigates the relationships between the survey results and an apartment deal price index by size and bidding price rate in apartment auctions by extending research related to consumer sentiment surveys. We surveyed the Seoul Metropolitan Area and analyzed the results using a unit root test, cointegration test, Granger causality test, and cross-correlation test. It was confirmed that causality exists between the survey results and apartment deal price index by size and bidding price rate, and it was also confirmed that there are correlation and precedence relationships between them.

• Spatial Information Research
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• v.10 no.2
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• pp.215-232
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• 2002

Variables representing neighborhood quality should be included in hedonic price models to control lfor the influences of negative or positive externalities from the quality of neighborhood on urban housing prices. This study proposes a GIS-based method to effectively measure the neighborhood quality variable when data on the neighborhood quality are aggregated by census sub area. This study also tests the superiority of the proposed neighborhood quality variable created by intensive use of GIS operations to a neighborhood variable not based on GIS operations in explaining the housing price variations by using Seoul＇s apartment sales data. The results from this study show that the neighborhood quality variable based on GIS-based operations shows better performance in explaining the urban housing price variations in Seoul＇s housing market. The implication from the results is that the potentials of GIS-based spatial operations in creating neighborhood quality variables should be well acknowledged by the researchers in the area of urban housing market study and GIS-based spatial operations should be more actively applied to generate better neighborhood quality variables for hedonic price models.

• Journal of Information Technology Services
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• v.12 no.2
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• pp.73-84
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• 2013

The development of the information on the internet brought a lot of changes in the real estate market. Because the real estate has local distinctiveness and individuality household who want to move must to visit place for housing information. But now household use internet real estate information at every decision-moving step and that is able to reduce not only the cost of real estate information but also social benefit like $CO_2$ emissions reduction effect. In this study, I analyzed the effect of $CO_2$ emissions reduction with Seoul household residential mobility data when household take informations from internet real estate site. As increasing a single family who is good at internet service, the effect of $CO_2$ reduction from the development of the Internet real estate information has more increased.

• Korean Journal of Construction Engineering and Management
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• v.14 no.1
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• pp.23-31
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• 2013

Following the U.S sub-prime mortgage crisis and a slump in properties market, the probability is rising that housing investment would not yield high profit as it used to do until early 2000s. For this reason, the nature of properties market is undergoing a change from a source of lucrative investment to a source of a relatively low but stable profit, such as profit-oriented real estate. This trend is likely to promote REITs market, which is a leading product for indirect investment. Until now, the REITs market has been growing slowly compared to a general housing market or financial markets. However, as the importance of risk management based on portfolio theories increases, stable profit generation of REITs can be effective in risk management. This study conducts an empirical analysis on how investment risks can be diversified by including REITs-a source of relatively stable profit in the equity market-in investment portfolio. The analysis results showed that, similar to food and beverage stocks of highly defensive nature, REITs has a relatively weak correlation with KOSPI that reflects the overall market performance. It also showed very low standard deviation in case of minimum variance portfolio. This suggests that including REITs in investment portfolio can be as effective as including food and beverage stocks for risk diversification. Due to uncertainties, investment always accompanies risks, and balancing potential profits and risks is essential.

• Land and Housing Review
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• v.8 no.2
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• pp.33-53
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• 2017

The UK Government's approach to how to deliver regeneration in its towns and cities has changed considerably in recent years. Traditionally, urban regeneration policy focused on reversing physical, economic and social decline in an area where market forces would not do this without intervention. Since 2010 urban regeneration has become a vital part of the Government's approach to increasing local growth and competitiveness and building a strong and balanced economy. The current emphasis is on a place-based approach to regeneration that builds on the particular strengths of different places to drive growth and addresses the factors that hold them back. This paper outlines the key features of current UK urban regeneration policy and how interventions to support regeneration and growth are being pursued at different spatial scales to ensure all parts of the country benefit. They include pan regional initiatives like the Northern Powerhouse and Midlands Way, to groups of local authorities operating at a sub regional level (combined authorities/city regions), Local Enterprise Partnerships, and a variety of smaller scale programmes delivering regeneration in areas of economic and social decline. The paper explains some of the policy instruments and funding programmes available to support regeneration, and provides case studies of some major urban regeneration projects that illustrate the new approach including housing and infrastructure improvements like the planned High Speed Rail 2 line. These are supporting regeneration through the creation of strategic partnerships involving government, places and investors. The paper concludes with some lessons from past and future regeneration schemes to improve their effectiveness and impact on places and enhance local growth potential.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.107-114
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• 2013

The interest in traditional Korean housing has greatly increasing in Korean housing market. However, it is difficult to wildly disseminate for a high construction cost reason. In order to effectively facilitate the Hanok construction, Korean government has initiated a project that develops a new style Korean housing, which meets the requirements of low cost and modernized life style. Cost of building is mainly affected by materials and construction methods. Hanok has some special commodities those significantly impact the cost. In order to effectively cut down the costs, well-organized planning for costs is very important. Also, improving the productivity by utilizing new materials and methods can result in cost down. In this context, this paper compared and analyzed two different types of Korean housing; one is a modernized Korean house which used new materials and methods, the other is a traditional Korean house which was build up by purely traditional methods. Productivity has also been compared and analyzed for 5 major commodities between two types of models. Based on these comparative data, effect of cost down by new model has been analyzed. As a result it is confirmed that by using the new materials and methods could highly effect to increasing productivity and cost down. Especially, the cost of Roofing have been more influenced by using new material while the Wood and Finishes have been influenced by new construction method. Construction cost of Foundation (Earthwork, Concrete, Masonry) and Openings were influenced both factors, changing of materials and methods.

• Korean Journal of Construction Engineering and Management
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• v.9 no.1
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• pp.87-95
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• 2008

The government wants to apply the construction cost estimating method based on historical data published in the first six months of 2004. Construction companies, however, require the proposed cost estimation model, to be improved which makes it difficult to predict a reasonable construction costs. This paper presents an improved historical data selection model after analyzing the problem of previous method throughout comparing contracted unit prices of reinforced concrete works selected by the previous model to market prices. The model which can select more feasible data would assist participates such as general contractors and sub-contractors to earn a proper profits.

• Human Ecology Research
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• v.60 no.4
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• pp.609-623
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• 2022

As human life and welfare become more valued in the Fourth Industrial Revolution era, the role and mission of human ecology are expanding. Therefore, a career exploration and education program for high school students covering all the academic fields of human ecology may be necessary. To investigate what would be needed to develop such a program, a focus group interview (FGI) targeting experts within the same field and a survey targeting high school students were conducted. As a result of the FGI, a total of 3 categories and 7 subcategories were identified. The three categories included "human ecology and high school education," "human ecology and career choices," and "education program development and management in human ecology." The results of the high schoolers' survey showed that they had a moderate level of awareness about careers related to human ecology majors, but their interests and known information about human ecology programs in universities were low. Within the sub-content of each major, the contents with the highest educational needs were fashion product management, nutrition by disease, housing market analysis, personal financial management, and children's rights and welfare. If a career exploration and education program is implemented in the future, the most preferred type is a mentoring program by professors, students, and graduates in the field of human ecology. In conclusion, it is necessary to develop and implement an integrative education program about human ecology majors based on the educational needs of high school students.

• Journal of Animal Science and Technology
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• v.45 no.4
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• pp.543-550
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• 2003

Two experiments were conducted to determine the effects of deletion of vitamin and trace mineral premixes on growth, feed efficiency, backfat thickness, hemoglobin content, muscle vitamin E content, and fecal, serum and muscle trace mineral contents in finishing pigs raised under two different housing conditions. In Exp. 1, three pens (or experimental units) of five pigs each (average weight $\pm$ s.e., 70 $\pm$ 0.5 kg) were assigned to a control diet (with vitamin and trace mineral premixes) or diets with 50 or 100% of the premixes deleted. Pigs were fed to market weight under sub-optimal housing conditions with sawdust-covered concrete floor and no electrical ventilation. In Exp. 2, three pens of four pigs each (average weight $\pm$ s.e., 56 $\pm$ 1.1 kg) were assigned to a control (with vitamin and trace mineral premixes), Diet-P (100% of the premixes deleted) or Diet-P+E (Diet-P plus 100 mg $\alpha$-tocopherol acetate/kg diet fed for the last 2 wk before slaughter). Pigs were fed to market weight under optimal housing conditions with 70%-slatted concrete floor, electrical ventilation and temperature control. No significant differences were found in average daily gain (ADG), average daily feed intake (ADFI), and gain/feed among treatments in both experiments, but in Exp. 2 done with younger pigs, ADG and ADFI tended to be higher in the control group than in pigs fed diet without premixes. Hemoglobin content, hematocrit and red blood cell count were not influenced by the deletion of premixes. Backfat thickness was not different among treatments. Fecal Mn (twofold) and Zn (threefold) contents were higher in the control than in pigs fed diets without the premixes. Serum trace mineral contents were not influenced by diets. $\alpha$-Tocopherol content in gluteus maxima was decreased (P< 0.01) by deleting the dietary premixes, but increased to the level higher than the control by adding 100 mg $\alpha$-tocopheryl acetate/kg diet fed for the last 2 wk before slaughter. Results indicate that: 1) supplementary vitamins and trace minerals may not be necessary for optimum growth in finishing pigs, and 2) deletion of the dietary premixes reduces muscle vitamin E content, but the reduced content can be reversed by adding $\alpha$- tocopherol to diets fed for the last 2 wk before slaughter. The deletion may help to alleviate the environmental load of certain minerals from manure.