{"title":"Island's legal status and policy development plan","authors":"S. Jeong","doi":"10.31303/krear.2023.90.46","DOIUrl":"https://doi.org/10.31303/krear.2023.90.46","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES In order to achieve actual development at a time when development and strengthening of competitiveness of the island region are required, we intend to identify the main contents of the current comprehensive island development plan and propose specific policy alternatives based on this. (2) RESEARCH METHOD To study the ways, of the related theses, publications and statistics released in Korea and abroad, they are theoretically reviewed and the materials are obtained from related references. the above is used by literature reviews and survey analyses to achieve the purpose of this study. (3) RESEARCH FINDINGS The island development policy should present an island policy for the expansion of poor infrastructure and the creation of high value-added disinfection and improvement of the quality of life. First, it is necessary to establish the department in charge of the island development policy and its functions, and as the department in charge, it is necessary to unify the various island policies of the relevant ministries to prevent the project from being undersized or duplicated. Of course, efforts should be made to form a human network so that the roles of local residents and experts, the key actors, can have a synergistic effect. 2. RESULTS It should be a means of revitalizing the island area by examining various resources possessed by the island area and making it a database. At the same time, various basic surveys on island areas as national statistics should be conducted and used as basic data for policy research.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126732036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Study on the Risk Factors and Management Plan of Knowledge Industry Center Development Project","authors":"Won Seok Lee, Kye-Moon Wi, JiYeol Youn","doi":"10.31303/krear.2023.90.70","DOIUrl":"https://doi.org/10.31303/krear.2023.90.70","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to preemptively explore the risk factors derived from the development process of the Knowledge Industry Center, which has recently been in the limelight as a new development project product, and to derive risk management measures for them. (2) RESEARCH METHOD As a research method, multi-level decision-making techniques (AHP and Fuzzy-AHP analysis methods) were used to analyze the importance of risk factors in each development stage and to derive risk management plans. (3) RESEARCH FINDINGS Risk management measures in order of importance include securing a construction company with recognition and brand, monitoring policy trends and adjusting business timing by development stage, establishing and verifying plans in preparation for product demand, blocking disputes through guarantee insurance, etc., and reducing risks through interest sharing. 2. RESULTS As a result of the analysis, it was confirmed that the overall importance of AHP and Fuzzy-AHP adjusted overall importance were similar in rank by risk factor. The top 5 risk factors as a result of importance are failure to secure a construction company with high recognition and brand, marketing planning, failure to select a project start time due to failure to predict the real estate economic downturn, failure to set an appropriate development scale that does not consider the future demand of the Knowledge Industry Center, failure to secure business partners (equity investors, financial companies, construction companies), and insufficient funding plan to secure project costs (bridge loans, main PF) appeared in order.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133919231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of Rental Price for Retail Properties in Seoul","authors":"Hae-jung Chun","doi":"10.31303/krear.2023.90.58","DOIUrl":"https://doi.org/10.31303/krear.2023.90.58","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to empirically analyze the determinants of rental price for retail properties using macroeconomic variables. (2) RESEARCH METHOD This study conducted an empirical analysis of the determinants of rental price using the vector autoregressive model (VAR). The dependent variableis the rental price index for mid- and large-sized retail properties in Seoul, and the independent variables are macroeconomic variables such as corporate bond yields, the number of economically active population, and the amount of domestic construction orders. (3) RESEARCH FINDINGS As a result of the cointegration test, there was a long-term balance relationship between the variables, so it was analyzed using VECM. As a result of the impulse response response analysis, the amount of domestic construction orders and corporate bond yields in the retail rental price were negative (-), and the number of economically active population was positive (+). In addition, as a result of the variance decomposition analysis, it was analyzed that the impact of the corporate bond yield was the greatest when excluding the retail rental price itself from the retail rental price. 2. RESULTS An increase in the number of economically active population, a proxy variable of income and economic conditions, increases the rental price, and an increase in domestic construction orders, a proxy variable of supply, and an increase in corporate bond yields, a proxy variable of liquidity, decrease the rental price.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"601 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116326285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A study on measures to activate the supply of welfare housing for the elderly","authors":"Jung Ha Kim, Choonwon Lee","doi":"10.31303/krear.2023.90.21","DOIUrl":"https://doi.org/10.31303/krear.2023.90.21","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study was to find ways to revitalize the supply of welfare housing for the elderly by identifying the current situation and problems in which welfare housing for the elderly have been supplied sluggishly and supplied mainly for the high-income class. (2) RESEARCH METHOD As a research method, the supply of systematic private construction rental housing and the supply case of elderly housing in major developed countries were first compared and analyzed based on previous research papers and various literature. In addition, various statistical data at home and abroad were used here. (3) RESEARCH FINDINGS As a result of the study, the reason for the sluggish supply of welfare housing for the elderly and the high-priced supply were that the market principle of supply and demand in the elderly housing market has not worked properly. 2. RESULTS As a way to improve and revitalize this, first, it is to classify and define elderly welfare housing defined as facilities into housing type and facility type, and to prepare detailed regulations on the supply, installation, operation, and management of elderly welfare housing. Second, it is to improve the system to guarantee the return of full admission deposits and secure land ownership. Third, the government or local governments supply land cheaply to social welfare corporations, medical care, and religious corporations to improve the profit structure of suppliers, while allowing installation operators to pursue the public interest of welfare for the elderly. Fourth, local governments develop and distribute programs to introduce a facility operation evaluation system, train professional operation managers, and supervise facility operation.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"65 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114937623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Chang, Joo-Ho Rhim, Hyung-sub Shin, Ki Wook Song, Mi Sook Kim
{"title":"AnEmpiricalAnalysisontheEconomicEffectofLandBank","authors":"I. Chang, Joo-Ho Rhim, Hyung-sub Shin, Ki Wook Song, Mi Sook Kim","doi":"10.31303/krear.2023.89.67","DOIUrl":"https://doi.org/10.31303/krear.2023.89.67","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES In this study, the necessity and the cost saving effect of preemptive land stockpiling were evaluated for road construction and land development projects.. \u0000(2) RESEARCH METHOD This study conducted a qualitative survey on the operation of land banks in Korea and an empirical analysis on the difference between the unit cost of land compensation and the change in land price of surrounding areas during project period. For 5 land development projects and 10 road construction projects, the actual land compensation cost expenditures were compared with the estimated costs assuming lump-sum compensation at the initial point of time. \u0000(3) RESEARCH FINDINGS Since the correlation between the published price of land and the unit cost of land compensation, which are changing anually, was unclear in land development projects, the expendture patterns of purchasing land hardly justify the cost-saving effect of preemptive lump-sum compensation. However, in road construction projects, the annual variations in unit cost of land compensation showed similar patterns to the increase in published land price. \u00002. RESULTS The land stockpiling by land bank is a policy tool to promote public projects such as road construction and industrial complex development quickly by securing land in advance and saving costs. The result showed that, in 10 road construction projects, about 6.8% of land compensation costs can be reduced by assuming lump-sum land purchase in early stages by the Land Bank, while we cannot expect these cost-saving effects in land development projects. It seems that the lump-sum compensation method for stockpiling land is relatively effective in road construction projects, rather than in land development projects, considering the land price increase invoked by development projects. In land development projects, with a proper division of sub-areas to be purchased stepwise, even sequential compensation can be appropriate.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121922011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Comparative Study on the Factors Influencing Sales of Small Businesses in Seoul before and after the COVID-19 Pandemic","authors":"Jung-A Park","doi":"10.31303/krear.2023.89.51","DOIUrl":"https://doi.org/10.31303/krear.2023.89.51","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES This study compares and analyzes the factors affecting the sales of Small business in 2020 and 2021, when social distancing became common in 2019 before the outbreak of COVID-19. \u0000(2) RESEARCH METHOD As a research method, literature search and empirical analysis related to sales of shopping malls were conducted, and as an analysis method, the Multiple Regression Analysis was used in consideration of the cross-sectional characteristics of dependent and independent variables. \u0000(3) RESEARCH FINDINGS As a result of the analysis, nine variables were found based on the 5% significance level, including gender, business hours, monthly holidays, number of workers, independent stores, exclusive area, lease contract date, and total investment cost. On the other hand, based on the significance level of 10%, it was found that the presence or absence of parking lots among the variables had an effect on sales. \u00002. RESULTS As consumption trends change online, discussions are also taking place on strengthening online services and building platforms for small business owners. It is necessary to open and operate a digital transformation untact service platform to strengthen the self-sustaining power of the alley business and restore vitality. In addition, various functions such as delivery apps necessary for ordering and delivery, and a promotion system using influencers should be integrated.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121477945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Study on the Vitalization through the Analysis of Determinants of Department Store Sales","authors":"S. Shin, Soo-In Lee, Kye-Moon Wi","doi":"10.31303/krear.2023.89.21","DOIUrl":"https://doi.org/10.31303/krear.2023.89.21","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES This study established a model for determining department store sales, including departmentstorecharacteristicvariablessuchasMD,brand,andoperationmethod,alongwith locationandfacilitiesfordepartmentstoresnationwide.Inconclusion,thisstudyderivesan efficient development plan for the department store industry. \u0000(2) RESEARCH METHOD The analysis method of this study applied the Hedonic Price Model, which assumes a seriesoffunctionalrelationshipswithdepartmentstoresalesandindependentvariables,which are dependent variables. \u0000(3) RESEARCH FINDINGS Asaresultoftheanalysis,itwasfoundthat15independentvariableshadasignificant effect on department store sales. The variables with positive coefficient are subway lines, numberofroads,airport,terminal,trainstation,parkinglot,duty-freeshop,luxurystorerate, vehicle visit, floating population density, Gyeonggi/Incheon area, and 12 other local areas 2. RESULTS Based on the analysis results, the following implications can be presented. First, departmentstoreoperatorsshouldcomparetherentalcostfortransportationenvironmentand facilitiesandtheutilityforprofitswhenopeninganewdepartmentstore.Second,department store companies need appropriate remodeling or modern changes to buildings. Third, it was foundthattheentryofduty-freeshopsandluxurystoreshadasignificantpositiveeffecton departmentstoresales.Therefore,departmentstoresneedstrategiestomeetthedemandfor high-priced consumption. Finally, department store operators should consider Gyeonggi-do, Incheon, and key regions of the province first when opening new department stores.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122820971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A study on the application of the Urban Change Monitoring System( UCMS) for data- based Urban planning and Real Estates policies.","authors":"Bong-moon Choi, Jong Hoo Lim","doi":"10.31303/krear.2023.89.35","DOIUrl":"https://doi.org/10.31303/krear.2023.89.35","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES This study deduced that it is necessary to monitor whether urban planning is being properly implemented in the comprehensive city plan. Focusing on the need to establish a feedback system, it was derived that urban change monitoring should be performed in three areas of achievement of planning index, achievement of urban policy key performance index, and GIS based urban spatial changes analysis. \u0000(2) RESEARCH METHOD This study explains the necessity of introducing urban change monitoring through the review of laws and systems, previous studies, and domestic and abroad case analysis and reflects the institutional analysis and other opinions. We proposed indicators and system configurations for urban change monitoring. \u0000(3) RESEARCH FINDINGS This study proposes the introduction of an urban change monitoring system to implement data-based urban planning and real estate policy by building a system that monitors the status, trends, and changes of the city.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126400063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Study on the Improvement of the Defect Repair System for Apartment Houses","authors":"Sang Hak Lee","doi":"10.31303/krear.2022.88.21","DOIUrl":"https://doi.org/10.31303/krear.2022.88.21","url":null,"abstract":"<jats:p />","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123469459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Study on the Improvement of Real Estate Brokerage Business: Focused on institutional aspects and practical aspects","authors":"Yang-Sun Kwon, Jae-ho Chung","doi":"10.31303/krear.2022.88.50","DOIUrl":"https://doi.org/10.31303/krear.2022.88.50","url":null,"abstract":"1. CONTENTS (1) RESEARCH OBJECTIVES In response to changes in the environment of the real estate market, we intend to investigate and identify the current laws, systems, and problems at the brokerage site for the overall sector related to the brokerage business to suggest improvement measures. (2) RESEARCH METHOD In order to cope with environmental changes in the real estate market, this study aims to identify the current status and problems of the overall sector related to the brokerage industry, to classify them by factors, and to suggest improvement measures to understand the importance of practitioners and administrators. (3) RESEARCH FINDINGS The results of this study include 'strengthening the capacity of licensed real estate agents' and 'straighten up legitimate brokerage business', and practical improvement measures include 'expanding the scope of brokerage work' and 'safe brokerage contracts', each divided into four. As a result of the AHP analysis, both practical and administrative experts showed relatively high importance in terms of institutional aspects. In detailed items, it has been confirmed that working-level experts view “establishment of brokerage order” and administrative experts view “expanding the scope of brokerage work” as important. 2. RESULTS As a result of the empirical analysis of all respondents surveyed on measures to improve the real estate brokerage industry, it was analyzed that the institutional aspect was more important than the practical aspect.","PeriodicalId":153350,"journal":{"name":"Korea Real Estate Academy","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115968329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}