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2015, Vol.87, No.

  • 1.

    A Study on Happy-House Construction Program Policy Factors

    Kim, Seong Yeun | 권성문 | Wonseok Seo and 1other persons | 2015, 87() | pp.3~15 | number of Cited : 4
    Abstract PDF
    Unlike previous public housing policies, the Happy House Construction Program (HHCP) focuses on remedying the unstable dwelling of young people, such as beginning working professionals, newlyweds, and university students. The purpose of this study is to understand various policy factors of the central government with regards to HHCP and to recommend policy implications for the unstable dwelling of young people by suggesting the priority of HHCP policy factors. This study uses the Analytic Hierarchy Process (AHP) to prioritize HHCP policy factors. The results from this study indicate that the complication management factor is an influential factor that obstructs the success of HHCP. In addition, additional programs are needed to prevent complications between the central or local governments and residents by reflecting the opinions of local residents and the need to improve physical living environments.
  • 2.

    An Analysis on Timing and Hazard Rate of Arrears and Default in Residential Mortgages: Focus on Cross Effect between Original DTI and LTV Ratio

    김문년 | Lee, Young-Man | 2015, 87() | pp.17~32 | number of Cited : 3
    Abstract PDF
    This study empirically analyzes the timing and hazard rates of arrears and default as well as the cross effects between the original DTI and LTV ratios, using individual residential mortgage dataset from a large commercial bank in Korea. This study utilizes the Cox’s proportional hazard model for its empirical research methodology. First, the results demonstrate that the arrears hazard rate stably maintains 0% from the issue date of mortgages for up to 12 months, gradually increases after that, and then sharply accelerates after 60 months. Moreover, the default hazard rate steadily retains 0% from the issue date of mortgages for up to 17 months, slowly grows after that, and then dramatically rises after 60 months as well. Second, the results show that both the original DTI and LTV ratio have critical values. The critical values of the original DTI ratio may be 30% in the arrears hazard rate and 40% in the default hazard rate. In addition, that of the original LTV ratio may be 40% in the arrears hazard rate and 50% in the default hazard rate. Third, the results demonstrate that more than 30% of the original DTI ratio and more than 40% of the original LTV ratio individually may be a trigger factor that ultimately increases arrears hazard rate. Furthermore, the results show that more than 40% of the original DTI ratio and more than 50% of the original LTV ratio respectively may be a trigger factor that rapidly swells default hazard rate. More importantly, the highest peak of default hazard rate is depicted when these two trigger factors appear simultaneously, which may therefore be called the “double-trigger effect”. Also, the results illustrate that the arrears hazard rate is more affected by the original DTI ratio than LTV ratio, and the default hazard rate is influenced thanks to both of them.
  • 3.

    Determinants of Housing Expenditure in Seoul Metropolitan Area, 2006~2014: Application of Multi-level Model

    박경준 | Lee, SeongWoo | 2015, 87() | pp.33~48 | number of Cited : 16
    Abstract PDF
    The purpose of the present study is to identify determinants of the housing expenditure. This study pay special attention to loan repayment for housing sustenance. We apply a multi-level model for the study utilizing the housing survey data from 2006 to 2014 in Seoul metropolitan area. The main findings are as followings. First, housing expenditure increases during the periods. The ratio of housing expenditure to permanent income decrease as permanent income increases. Householders with lower education and job level pay more housing expenditure than the counterparts of the variables. These results show that Schuwabe’s law is working in the Seoul metropolitan area. Low income group has harsher burden in housing expenditure than the high income group and people socially and economically weaker are easy to get in debt to pay housing price. This study also found that housing expenditure is regionally differentiated in the Seoul metropolitan area.
  • 4.

    Analysis of Transit Ridership Patterns and Influencing Factors in Seoul

    Ji yoon | 임수연 | Choo Sangho and 1other persons | 2015, 87() | pp.49~65 | number of Cited : 7
    Abstract PDF
    The purpose of this study is to classify all districts into several groups based on temporal transit ridership in Seoul and to identify key factors that affect transit ridership by group through multiple regression analysis. First, three groups are identified based on transit boarding and alighting patterns during three peak hour periods, 7~9, 18~20, and 21~23: residential-oriented, activity-oriented, and mixed groups. For example, the residential-oriented group is mainly oriented towards residential areas where the number of transit boarding passengers is high during the morning peak hours, while the activity-oriented group involves more commercial or education/welfare facilities with greater boarding passengers during the afternoon peak hours. Accordingly, regression models are developed by group, considering land usage, demographic and socio-economic, and transit facility variables. The model results show that the effects of these three factors on transit ridership differ among the groups.
  • 5.

    An Empirical Analysis on the Change of Conversion Rate by the Amount of Security Deposit in Seoul Office Rental Market

    Seonghun Min | 2015, 87() | pp.67~80 | number of Cited : 0
    Abstract PDF
    A security deposit is traded between the landlord (demander) and the tenant (supplier) for the purpose of leverage as well as security functions in Korea. In this study, the relationship between the amount of security deposit and the conversion rate is analyzed through office market data in Seoul. The amount of security deposit is calculated by two methods: the security deposit to monthly rent ratio (DTR) and security deposit to value ratio (DTV). DTR is related to the security function. The conversion rate would decrease as DTR increases because the marginal utility of the landlord would decrease as DTR increases. However, DTV is related to the leverage function. The conversion rate would increase as DTV increases because the risk premium for the tenant would increase as DTV increases. Empirical results suggest that the hypotheses above are significantly substantiated, so the relationship between the amount of security deposit and the conversion rate is not linear. This result has been the case for several literatures on the residential and retail property markets in Korea.
  • 6.

    A Option Value of Busan-Gimhae Light Rail Vehicle

    KIM MIN JAE | Youngsung Lee | 2015, 87() | pp.81~95 | number of Cited : 3
    Abstract PDF
    This study aims to estimate choice value, which is considered in the decision-making process for public investment projects. Prevailing preliminary feasibility studies assess the benefit of projects based on the estimated demand of use for target facilities. Most of them do not consider the probabilistic change of potential use, since they only assess the deterministic welfare effect from planned usage. Thus, they do not always take the uncertainty between the present and future into account. In other words, prevailing studies do not reflect the uncertainty value even if consumers assess the value based on unexpected events, such as natural disasters, policy changes, and so on. The value from which consumers assess and reflect uncertain events of the future is the option value. The estimation of the option value may complement the weakness of recent feasibility studies by assessing the willingness to pay of potential consumers for public services. This study suggests a guideline on the decision-making process for public investment projects by estimating the willingness to pay for the option value, which has not considered the social or economic benefits and costs. In order to reflect such uncertainty, this study uses a choice experiment by suggesting various scenario cases based on different attributes and an estimation of the willingness to pay of consumers. This study takes into consideration such attributes for estimations of option value as providing transfer discounts, increasing oil taxes, and subsidizing commuting costs. Moreover, the study suggests scenario cases that consider the degree of such attributes. Finally, by estimating the parameters for option users and non-users, management strategies for BGL is suggested.
  • 7.

    Location of Big Box Retailers and Its Accessibility for Minority and Low-income Communities: The Case of Austin, Texas, USA

    Jeong-Il Park | 2015, 87() | pp.97~113 | number of Cited : 0
    Abstract PDF
    Despite its close proximity to downtown, East Austin is one of the underprivileged and under-developed areas in the City of Austin, Texas in the United States. Ethnic minorities and low-income persons in inner-city areas often lack access to big box retail due to the store being disproportionately located outside of their neighborhoods. The aim of this study is to identify the accessibility of big box retail for East Austin’s residents in order to confirm the potential impacts of big box retail growth on minority and low-income populations. Using GIS-based network analysis, it measures whether the residents in East Austin have equal access to big box retail stores, compared to the average of the city. The results of the analyses suggest that East Austin has less access to certain category of big box retail. Although residents in East Austin have greater accessibility to neighborhood-type retail like automotive part stores, drug stores, small-format value stores, and supermarkets, they have less accessibility to community-type big box retail like furniture store, home improvement stores, department stores, and large-format value stores. Socio-economic characteristics of East Austin neighborhoods include a high percentage of individuals living below the poverty line, high disability rates, low to no vehicle ownership, and high percentages of female headed households. Consequently, the persons in those neighborhoods of lesser accessibility are potentially hurt more by the location of big box retail establishments. However, the research found a denser development with mixed-use and mixed-income strategies might help fill retail gaps and significantly improve retail access for minority and low-income population.
  • 8.

    Spatial Distribution of Ethnic Enclaves in Korea

    민성희 | Ahn, Yong-Jin | 박정호 | 2015, 87() | pp.115~130 | number of Cited : 3
    Abstract PDF
    The purpose of this study is to analyze spatial distribution of multicultural family in Korea. This study focused on ethnic enclaves which are identified spatial clusters at the level of eup-myeon-dong by LISA analysis and binary logit regression. The main results are as follows: First, spatial distribution of ethnic enclaves significantly vary by their home country. Second, Chinese enclaves are generally located in Seoul Metropolitan Area (SMA) showing high residential ratio of Chinese multicultural family. Third, while Vietnamese enclaves are considerably concentrated in Daegyeong or Dongnam region, Philippine enclaves are along the west side of Korea, especially, ChungCheong and Jeolla region. Lastly, Japanese enclaves are concentrated in SMA and its surrounding areas in Gangwon or Chungnam region revealing relatively high residential ratio of Japanese multicultural family. These results are supported by binary logit analysis. These findings are expected to contribute to establishing future policies to support social assimilation of multicultural families and to enhance their living conditions centered on ethnic enclaves in Korea.
  • 9.

    An Analysis on the Long-term Policy Change for Underdeveloped Regions

    김영단 | Soon-Tak Suh | 2015, 87() | pp.131~150 | number of Cited : 6
    Abstract PDF
    This study aims to understand the long-term policy change for underdeveloped regions in Korea. The study shows the following: First, six kinds of policies for underdeveloped regions are classified into three types based on the long-term views of policy change. Type-A is a type of maintenance after policy innovation, Type-B is a type of ending after innovation, and Type-C is a type of maintenance after punctuated policy innovation, in which relevant previous policies are punctuated due to political or socioeconomic problems. In addition to these findings, this study suggests that two patterns exist in relationships between government transitions and policy changes. The first pattern is that new governments have a tendency to introduce new policies, which lead to the cumulating of policy innovation. The second pattern is that new governments have a tendency to maintain or succeed the policies of previous government even though policy termination happens in part.
  • 10.

    A Study on the Classification of District Unit Planning Area Based on Considering Regional Characteristic: A Case of Busan Metropolitan City

    Yeo Sung Jun | 강기철 | 2015, 87() | pp.151~162 | number of Cited : 3
    Abstract PDF
    The purpose of this thesis is to provide basic reference to provide a foundation for establishing differentiated category plans and classified regional characteristics. District unit planning is beneficial in a way that it can create a harmonious environment in the entire district including both the targeted area and the surrounding area and concretize rough urban planning about the entire city according to the characteristics of the district. Among the major parts of district unit planning, however, there are more and more cases mainly intended to gain profits from the development through up-zoning rather than those to develop the entire district harmoniously by transforming the use district. At this current moment, the district unit plan guidelines that have been legislated by MOLIT puts together whole lands, and suggests comprehensive contents regardless of regional characteristic in order to establish a standardized plan. As a result, this thesis aims to provide classification while considering the peripheral nature, internal characteristics, and nature topography for a planning area of 533 district units in Busan. At first, this study extracts 9 factors while considering each indicator and classifies 7 types of district unit plans. The study expects to assist in devising a plan that can push ahead the development plan and create harmony with surrounding areas.
  • 11.

    The Use of Spatial Big Data for Planning Support : Case of Building-energy Data for Seoul Metropolitan Area

    Donghan Kim | 2015, 87() | pp.163~178 | number of Cited : 4
    Abstract PDF
    The advancement and spread of information and communication technology (ICT) has changed the way we live and act today. Computers and ICT devices have become smaller and almost invisible, and they are now virtually everywhere in the world. Most socio-economic activities are now subject to the use of computers and ICT devices, although we do not really recognize it due to pervasive computing technologies. Nevertheless, the activities supported by digital devices leave digital records, and a myriad of these records becomes what we call “big data.” Big data differs from conventional data that we have collected and managed in that it holds detailed information of people’s lives and activities. Thus, it offers new insight into our society, and hence a new opportunity for innovation. Not surprisingly, experts and scholars forecast that big data will transform various socio-economic activities as well as our societies. The goals of this research are twofold: First, it aims to understand the nature and characteristics of spatial big data. Then, it seeks to suggest ways of utilizing such spatial big data for planning support. In this regard, this study defines the concept of “planning a support system for big data,” which consists of modules and techniques for the visualization, analysis, and simulation of spatial big data. To achieve these goals, this study conducts an experimental case study with energy usage data for the Seoul Metropolitan Area. Then, the study concludes with future studies and policy measures to promote the use of spatial big data in the territorial and urban planning fields.