• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2006.11a
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• pp.497-502
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• 2006

The main purpose of this study was to identify the problems and the effectiveness of public rental housing constructed by private construction company. To accomplish this, the current situation and the residents' perception were compared between public rental housing and private rental housing through the analysis of existing data collected in March 2005 by Gallup Korea and submitted to Korea Housing Corporate. The results showed that public rental housing contributed to the housing stability for the low income households. Most of the respondents were satisfied with their current housing. The burden of housing cost such as amount of Chunse deposit, however, still needs to be lessened

• Journal of the Korean housing association
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• v.23 no.1
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• pp.1-8
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• 2012

The purpose of this study is to evaluate the supply plan of public rental housing under the Lee Myung-bak government. According to the supply plan, the government will supply public rental housings by 80,000 unit every year from 2009 to 2018, and achieve 12% as stock ratio in 2018. To evaluate the supply plan, this study analyzed housing needs of tenants in private rental housing by using the raw data of Korea Welfare Panel Survey (2008). The results are as follows: (1) It is difficult for the supply plan to meet the housing needs of tenants in private rental housing. (2) The link between supply plan and stock ratio target is weak. (3) To meet the housing needs, it is necessary to supply public rental housings by 107,000 unit every year for 10 years, and, in this case, the stock ratio will be 10% in 2018. In conclusion, this study proposed that the supply plan of public rental housing should be redesigned.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.187-192
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• 2011

The purpose of this study is to evaluate the supply plan of public rental housing under the Lee Myung-bak government. According to the supply plan, the government will supply public rental housings by 80,000 unit every year from 2009 to 2018, and achieve 12% as stock ratio in 2018. To evaluate the supply plan, this study analyzed housing needs of tenants in private rental housing by using the raw data of Korea Welfare Panel Survey(2008). The results are as follows: (1) It is difficult for the supply plan to meet the housing needs of tenants in private rental housing. (2) The link between supply plan and stock ratio target is weak. (3) To meet the housing needs, it is necessary to supply public rental housings by 107,000 unit every year for 10 years, and, in this case, the stock ratio will be 10% in 2018. In conclusion, this study proposed that the supply plan of public rental housing should be redesigned.

• Land and Housing Review
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• v.4 no.4
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• pp.303-316
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• 2013

This paper examines the achievements and limitations of housing assistance programs for low-income households. Korean public rental housing has been rapidly developing since 2000, and thereby achieved an increase in public rental housing stock, housing quality improvements, and the reduction of rent over-burden for low-income tenants. Despite some conflicting evidence, it appears that the provision of newly-built public rental housing has helped stabilize the prices of neighboring private rental housing units. But, as we are entering an era of one million long-term public rental housing units, we need to shift our focus from quantity-oriented provision to housing maintenance for tenants, and from cost-based rental housing to affordable rental housing and better access to rental housing for low-income tenants who are not beneficiaries of government assistance. Most of all, it is very important for local governments and the private sector to actively participate in the provision of public rental housing in order to ensure a stable rental housing market.

• 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.

• Architectural research
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• v.22 no.3
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• pp.85-95
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• 2020

While there has been a substantial amount of studies on public rental housing of Korea, most have focused on housing policy changes, international comparisons, and current characteristics and future prospects. This article aims to examine the evolving roles of the national and local governments, and the private sector in provision of Korea's public rental housing. The findings suggest that one, although the wave of neoliberalism and financial crisis have prompted the national government to reduce its role and to encourage engagement of other actors by utilizing incentivizing tools, it has continued to assume a central position in formulating and implementing housing supply plans. Two, local governments have played a marginal role throughout the history of public rental housing supply, although they have expanded their participation through redevelopment projects and utilization of existing housings. Three, private sector actors have expanded their role to delivering public benefits of making housing available for a wider range of populace leveraging various incentives that make projects financially more feasible. The study poses a question on how responsibilities and risks can appropriately be allocated among three key actors to achieve housing welfare going forward.

• Journal of the Korean housing association
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• v.21 no.4
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• pp.51-58
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• 2010

In the modernization process of the city, urbanization raised a variety of social issues. Urbanization brought noticeable changes in dwelling patterns, such as drastic changes in the housing lifestyle, that revolved around the metropolitan areas of Seoul and Busan etc. before and after the expansion of economic growth. Especially in 1985, when 23.8% of the country's population was concentrated in Seoul, the imbalance of housing supply and demand caused a vast range of housing shortage. The shortage, that resulted from public sector mishandling of natural housing demand, lead to the occurrence of private sector rental housing. The occurrence of this abnormal rental housing supply, became a major cause of Korea's typical lease system called 'Co-dwelling', where the leaseholder and tenant physically lives in the same residence. The leaseholder and tenant's 'Co-dwelling' started from partial renting of traditional Korean-style housing and transformed with the transition of dwelling form and time. However, after 1985, legalization of multi-family housing, Korean rental housing started to be planned in the beginning of it's housing construction and to be produced as an independent space with separate circulation. Also in terms of facility, it changed from partial renting of a space within the residence to an assembly of small individual spaces. However, the background of this deep-rooted 'Co-dwelling' lease system, in different forms and periods of residence, is still based on the lack of public sector rental housing supply and private sector supply of rental space to utilize extra space, 'Jeonsei' payment.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.1
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• pp.36-51
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• 2019

The purpose of this study is to elucidate the implications for the effective use of rental housing REITs in Korea by analyzing the characteristics of rental housing REITs in Japan, focusing on the operation and asset management of rental housing REITs. The main results of the study are as follows. In the case of Japan, rental housing REITs are invested and operated by profit-based private companies, and are activated with small rental housing in the city center as a niche market. In particular, it has secured the reliability, expertise and permanence of REITs by utilizing the sponsored REITs structure. This is possible because Japan has infrastructure for the supply and operation of corporate rental housing. Based on these analyses, ways to revitalize private investment, and ways to utilize sponsored REITs to enhance REITs' credibility were derived. for the effective use of domestic rental housing REITs.

• Journal of the Korean housing association
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• v.18 no.5
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• pp.73-84
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• 2007

Permanent rental housing, the construction of which was strongly financed by the central government, is regarded as a social housing for those who fall within the lowest income bracket. Differing from "public rental housing", offered to tenants for sale after a five year rental period, this type of housing is intended for rental use on a long-tenn basis. At present, about 190,000 permanent rental housing units exist in Korea. According to a statistics, 15.6% of its residents did not pay their management fee and rental payment in 4 or more months in 2005, which places stress on the housing management. Based on the "eviction condition" stipulated in the tenancy agreement for permanent rental housing, a householder owning assets or a vehicle which is not used as his means of living, who is overdue with his management fee and rental payment for a long time, may be evicted from the house. However, there are many conflicts and problems between administrators/housing managers and residents in the process of enforcing this regulation. The purpose of this study is to explore the key issues associated with the present situation and the reasons why so many management fee and rental payment for permanent rental housing are overdue. For the purpose of research, data were collected from 10,990 permanent rental housing residents nationwide via a questionnaire survey in February 2007. One third of the respondents had an experience of more than 2 months overdue since they have moved in current residence. For further analysis, the respondents were divided into three groups, based on their working ability. The major finding showed that the group of respondents who have working ability required a more practical plan, such as employment, to have a sustainable life, while the other group of no labor force indicated a need for more housing allowance from the government. To suggest more specific alternatives for the subject of housing payment overdue, further comparison study should be performed between the residents of permanent rental housing and other low income tenants in private housing sector.

• Land and Housing Review
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• v.15 no.3
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• pp.25-43
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• 2024

Using the 2021 Korea Housing Survey Data, this study compared and analyzed the factors influencing the residential mobility of residents in public and private rental housing by population and social characteristics, economic characteristics, and housing characteristics. The analysis results are as follows. As a result of descriptive statistics analysis, it was found that private rental households were young and economically active. While the proportion of apartment residents and new housing, and the level of housing satisfaction were low, the level of housing insecurity was high. Through logistic regression analysis, significant factors influencing the residential mobility of private and public leases were analyzed. In terms of demographic and social characteristics, private leases were affected by marital status, the number of household members, the age of the household head, and the residential area, while public leases were affected by marital status and the age of the household head. In terms of economic characteristics, private leases were affected by assets, debt, and housing management costs, while public leases were affected only by debt. In terms of residential characteristics, private leases were affected by periods of homelessness, housing satisfaction, housing insecurity, and a sense of homeownership, while public leases were affected by housing type, years of construction, housing satisfaction, housing insecurity, and a sense of homeownership.