• Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
• /
• 2003.04a
• /
• pp.500-509
• /
• 2003

A land-speculation is to occur on a space. A purpose of this study interprets land speculation in a viewpoint of spatial, and to carry out effective decision-making about areas that land-speculation can be arise At the time of this, the focus of spatial interpretation Is recognition of a spatial continuity and consideration of a spatial association. In this study, I used fuzzy sets in order to recognize spatial continuity and. therefore a value in 0-1 was granted all area. And in order to consider spatial associations. carried out a local spatial association (Local Moran's I). Also. I introduced the spatial expert support systems (SESS) one of the computer-based decision support systems to dr efficient decision-making about a land-speculation in an object area. After that, as a case study I carried out decision-making about land-speculation's occurrence in the Seoul-Kyeonggi (2/4 quarter in 2001)

• Journal of the Korean Regional Science Association
• /
• v.8 no.1
• /
• pp.1-29
• /
• 1992

The major purpose of this paper is to examine two closely related issues. An attempt is made here to examine internationally high land price in Korea from the perspectives of market fundamentals (MF) and bubble theory, respectively. Another theoretical issue, whether land speculation can result in market failure, is also examined. It has been concluded that the primary causes for the rapid increases in land prices in Korea, could be found in the perspective of MF. (1) The financial intermediaries has been controlled by the government since 1960s. Real Interest rates in the commercial banks has been controlled at the level of zero or sometimes negative; scarce financial resources has been rationed by the government. The governmental control of the bands has also resirained the development of securities market. Money, which can not find the appropri opportunity for saving in financial market, moves to land market. (2) Socially created land value, based on rapid economic gorwth and big public investment, has been appropriated mainly by the private: The effective tax rate of land holding tax has been under 0.02 percent; Real Estate Capital Galns Tax has, in fact, affected few persons, mainly because examptions and preferential taxation have been widely permitted. (3) The government has ploaced severe limitations on rural-to-urban land conversion, although the demand for urban uses has repidly grown. All factors above caused the cyclical land speculation. This, in turn, created the myth that land prices will inevitably continue to rise. Based on the myth, the growing bubble in land price has been created. This is the secondary reason for high land price relative to income in Korea. It is also shown that it is possible that speculation in land results in market failure because land is fixed in quantity and can be used for production and speculation purposes simultaneously.

• Journal of Korean Society of Rural Planning
• /
• v.10 no.2 s.23
• /
• pp.51-60
• /
• 2004

Through the fast economic growth since the 1960s, Korea has experienced various problems on land such as urban sprawl, the rapid increase in land prices, land speculation, privatization of the betterment, and so on. To prevent such problems and to enhance harmonious development and conservation, the National Land Planning and Use Act(NLPUA) was established in 2003. The NLPUA which was revised and combined two existing planning laws i.e. the National Land Use Management Act and Urban Planning Act, has an eye to preventing disorderly spatial development, to pursuing environmentally friendly spatial planning, and to following up planned development in non-urbanized area like rural area. This study aims to discuss what should be considered the pending issues after the application of the NLPUA in rural area. On the basis of reviewing the NLPUA in a viewpoint of the rural planning, this study suggests some improvement policy such as considering various rural conditions, securing excellent agricultural land, applying the District Plan II system effectively, reorganizing the planning administrative, and so on.

• Journal of the Korean Professional Engineers Association
• /
• v.15 no.3
• /
• pp.37-48
• /
• 1982

A comprehensive plan for provincial development which has been establishing and is about to be completed in 1982, has for its object that concretely develop the undertaking of the second comprehensive Program for land development under the Multiple Purpose Development of the Land Act. The limitations of the establishing tile plan which is subordinated to the Program for land development are, firstly of a difficulty of accepting upper and related plans, secondly, of limit and range of time, space and contents, and thirdly, of validity of the plan in practice. There fore, in order to solve the problems the plan firstly, has to introduce 〃the principle of composition and resolution of forces〃 into approaching to the acceptance of upper and related plans secondly, has to prefer micro approaching to macro in planning, and thirdly, has to have a flexibility of planning which will be easily changed into reasonable plan according to continuous co-ordinated process with the government authorities and inhabitants.

• KDI Journal of Economic Policy
• /
• v.14 no.3
• /
• pp.49-72
• /
• 1992

This paper examines the increasingly popular belief that higher holding tax will be the ultimate solution for Korea's land problems which include excessive concentration of ownership, high and rapidly increasing land prices, and rampant speculation. In principle, land holding tax can supplement capital gains tax in recapturing capital gains from land or suppress returns from land investment returns in line with other forms of asset. This paper shows, however, that the tax burden must be drastically increased for the tax to achieve such goals, and the resistance from tax payers is sure to be intense. As long as the price expectation remains high, as in Korea where land prices have increased 19% annually during the past 18 years, even such increase in the tax may have little impact on landlords' behaviors, the price trend, or the ownership structure. More effective solutions for Korea's land problems are relaxing land use regulations to encourage the supply for urban land and improving the performance of capital gains tax to recapture windfall gains from land. This paper also notes that the so-called "lock-in effect" of the capital gains tax seems to be exaggerated. Land holding tax should be viewed as a revenue raiser for local governments rather than an anti-speculative policy tool. Abandoning unattainable policy goals and adhering to the general principles of taxation, will make land holding tax much simpler, and will better function as a local revenue source.

• International Journal of Computer Science & Network Security
• /
• v.21 no.12spc
• /
• pp.459-462
• /
• 2021

The article examines the main problems of land market formation in Ukraine. The article is devoted to the study of problems and prospects of land market introduction after the abolition of the ban on alienation. The advantages and disadvantages of lifting the moratorium on the purchase and sale of agricultural land are highlighted. The experience of such European countries as France, Germany, Latvia, Romania and Poland in regulating the market of agricultural lands is analyzed. The historical stages of market formation, features of state policy in this area are considered. The authors found that in these countries the market for agricultural land is well developed and works effectively, which has positive consequences for the economy of these countries. After analyzing the experience, we identified common elements of an effective mechanism for regulating the land market in European countries, which can be implemented in Ukraine. It is emphasized that after the opening of the land market it is necessary to prevent the concentration of a large number of agricultural lands in the hands of one person or close persons and it is necessary to create an effective supervisory body, whose main functions will be supervising sales prevention of speculation in the land market. Emphasis is placed on the need to improve legislation in the field of land, organizational and informational conditions for land reform. The Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Concerning the Circulation of Agricultural Land" was analyzed, the adoption of which put an end to the systematic extension of the moratorium on the sale of agricultural land. The positive aspects of such reservations are noted, such as the gradual introduction of the land market, quantitative restrictions, the lower limit of the value equivalent, which can not be less than the normative monetary value. At the same time, the problem is that the lack of an imperative norm on termination of the lease agreement in case of refusal of the lessee to purchase such land at a price not lower than expert assessment, will negatively affect its price formation and actually make the landlord hostage.

• Journal of the Korean Society of Environmental Restoration Technology
• /
• v.23 no.6
• /
• pp.1-14
• /
• 2020

Under the 「National Land Planning and Utilization Act」, Development Restriction Zones(DRZ) is one of the designated use district where the Minister of Land, Infrastructure and Transport deems it necessary to control urban development in order to prevent urban sprawl and conurbation and ensure a healthy living environment for citizens by conserving the natural environment surrounding metropolitan cities. DRZ was first designated around the Seoul Metropolitan city in 1971, and had been expanded to the 14 metropolitan areas across the country since 1977. The designated areas were accounted for about 5.4% of the total national land and its importance was demonstrated by contributing to control urban sprawl, curbing real estate speculation, and providing green space to citizens. However, DRZ has been repeatedly relaxed its regulations and allowed development under government. As a result, much of the green areas was damaged and several cities were merged and extended(conurbation). In particular, deregulation implemented for the purpose of securing land as part of national projects and local outstanding business(i.g. constructions of national rental housing, industrial complex, and international stadium) have caused continuous environmental damage around the metropolitan cities. In addition, the habitat fragmentation is in serious situation. Thus, the systematic plans for managing DRZ are necessary, since it is concerned that urban environment become deteriorate in the mid- to long-term. This study aims to continuously protect the urban environment from lifting DRZ. Therefore, firstly, we examined the environmental status through analyzing DRZ Management Plan which shall be drawn up by the Special Metropolitan City Mayor, the Metropolitan City Mayor or the Mayer/Do governor having jurisdiction, every five years to collectively manage DRZ. Secondly, we investigated the actual condition in DRZ based on the case study of Management Plan in Metropolitan areas(i.e. Seoul Metropolis, Gyeonggi-do, and Incheon Metropolis). Finally, we suggested the seven feasible improved political plan for managing DRZ.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.32 no.1D
• /
• pp.61-69
• /
• 2012

The purpose of this study is to draw the development direction of subway adjacent area by distance through an analysis on influence factors of land value by urban spatial constitution. The method of this study is analyzing influence factors of land value by the distance of subway adjacent area by using regression analysis method with urban spatial constitution variables from advanced research and drew the difference and extent of land value influence factors by distance of subway adjacent area. The result of analyzed the influence factors of land value by distance to draw the purpose of this study, which is the direction of development by distance of subway adjacent area, the connected area has shown the development direction as high density development centrally on commercial and improvement of accessibility and decrepit status, the directly influence area shows as complexity with high density centrally on commercial and business and lastly, the in directly influence area has shown the development direction as complexity of residential and commercial, improvement of accessibility and decrepit status. This study has used land value as a dependent variable to verify the speculation of this study based on the contents, the results of the analyze and the critical points of precedent studies to draw the development direction of subway adjacent influence area by using autonomous variables from advanced research. Upon this, drew a conclusion of this study as analyze of influence factors of land value could be a reference material for development of subway adjacent area.

• Land and Housing Review
• /
• v.12 no.4
• /
• pp.41-59
• /
• 2021

This study reviews theoretical considerations and past studies about real estate prices, macroeconomic variables, and real estate policies. Monthly data from January 2003 to June 2021 are used, and a VEC model, the most widely used multivariate time series analysis method, is employed for analysis. Through the model, the effects of macroeconomic variables and real estate regulatory policies on real estate prices in Seoul are analyzed. Findings are summarized as follows. First, macroeconomic variables such as money supply and interest rates do not have a significant impact on Seoul's apartment prices. Due to the high demand for housing and insufficient supply, there is a demand for buying a home regardless of macroeconomic booms or recessions. Second, tax and financial regulatory policies have an initial impact on the rise in apartment prices in Seoul, and their influence diminishes over time. Third, anti-speculation zones are expected to decrease apartment prices through the suppression of demand. However, these zones cause a rise in apartment prices. This could be understood as a lock-in effect due to the strengthening of capital gains tax. Fourth, the price ceiling did not decrease apartment prices. These findings propose that, in Seoul, where demand is high and supply is insufficient, the supply of high-quality and sufficient housing should be prioritized over various regulations such as tax regulations, financial regulations, anti-speculation zones, and price caps. Moreover, the findings provide an implication that city-specific real estate policies should be implemented for Seoul rather than regulation-oriented approaches in public policy.

• Journal of Arbitration Studies
• /
• v.26 no.4
• /
• pp.83-109
• /
• 2016

Recently, China has brought many political, economical, and ideological changes in order to complete the "socialistic market economy." In terms of legal system, they make much effort to seek compatibility and stability of law and order. China recognizes that the breakdown of corruption, which is rampant in society, is an essential short-cut for national development. To realize anti-corruption reformation, it strengthens the supervision of relatives and close officials of high-ranking government officials. Recently, China has suffered from expanded trade disputes internationally and has also experienced severe management-labor conflicts domestically due to economic recession. From 2012 onward, civil lawsuit and other litigations have increased sharply. Also, they face severe conflicts in the land system. It is expected that many disputes arise due to speculation on rural housing. Meanwhile, Mongolia expands the size of trade with Korea in mutual cooperation since their diplomatic relation in 1990 by entering more than 20 treaties and agreements. As Mongolia has rich natural resources and Korea is equipped with advanced science and technology, the two countries have opportunities to develop mutually beneficial cooperative relations. Recently, the arbitration system has attracted attention instead of litigation as a means of dispute settlement in line with the expansion of trade between Korea and Mongolia. This study would be helpful to figure out desirable methods for dispute settlements in case of trade disputes among Korean companies that would advance into China and Mongolia.