This study reviewed theories about the determinants of conversion rate of Jeonse price to Monthly rent and empirically analyzed the determinants of conversion rate of Jeonse price to Monthly rent through the SVAR model. The variables were selected by theoretically and the SVAR model was constructed with 5 variables such as mortgage loan interest rate, Housing Consumer Sentiment index, mortgage loan balance, Jeonse price to Housing price ratio, including conversion rate of Jeonse price to Monthly rent. Impulse and response function and variance decomposition were analyzed to find the determinants. As a result, in the short term, the conversion rate of Jeonse price to Monthly rent is strongly affected by the interest rate. And in the long term, it is influenced not only by interest rate but by also Housing Consumer Sentiment index, mortgage loan balance. It shows that the conversion rate of Jeonse price to Monthly rent fluctuates according to interest rate, but it can be affected by expectation of housing prices and activation of housing finance.
The purpose of this study is to analyze the influence of social capital and urban characteristics on competitiveness of local governments. The data from all local governments in Korea is used for the analysis. Independent variables are social capital characteristic (such as participation, network, norms, knowledge activity and diversity) and urban characteristics (such as the ratio of aged population, the ratio of manufacturing industry, land use, cultural service and roadway length). The results of this study are summarized as follows; In consideration of the social capital, the effect of knowledge activity and diversity variables on competitiveness of local governments is very large. Social capital variables (knowledge activities, diversity, norms and private participation) and urban characteristic variables (the olderly, manufacture, residential area, commercial area, roadway length) are significant when considering both of them at the same time. The importance of social capital in improving competitiveness of local governments has been recognized and it will help to plan ways to promote urban growth and development.
The purpose of this study is to forecast changes in trade areas of the Seoul Metropolitan Area as a result of the introduction of the Great Train Express (GTX) which connects Seoul and its neighboring cities. Existing studies have not shown consistent analysis findings as to whether the introduction of high-speed transportation system such as the GTX would aggravate the population concentration on megacities such as Seoul. Some argue that the population concentration on big cities will be unavoidable, while others maintain that such concentration will not take place and travel time between cities will only reduce. This study extracted the travel time and the size of existing trade areas as main factors affecting the formation of trade areas and identified a probability model that determines trade areas from such factors. While this study adopted general study methodology in this regard, it is differentiated from existing studies in that (1) it used the discrete probability model to reflect actual effects of travel time, which represents accessibility, on the selection of a trade area; and (2) it conducted feedback analysis on the complex network through which results of an analysis serve as input values for another analysis. The feedback analysis using the probability model proposed by this study allowed us to predict that the introduction of the GTX would aggravate the population concentration on Seoul.
This study aims to develop a statistical accident model at 3-legged non-signalized intersections with random parameters Poisson method to find the elements affecting traffic accident frequencies. Meanwhile, non-signalized intersections have been treated relatively poorly compared to signalized intersections, which result in fewer studies than signalized intersections. In addition, the previous count models with fixed parameters are not enough to explain the integrated variations in terms of spatial-temporal characteristics road segments or points have. This drawback of the traditional count models results in the underestimation of the standard error of the derived coefficient and finally affects the low reliability of the derived model. To diminish this problem, this study uses the random parameters which take into account the heterogeneity of all the observations. As a result of the analysis, 13 variables were found to have statistically significant variables, 10 variables of which were found to have fixed parameters, and 3 variables (# of entrance/exit on major road, Existence of pedestrian crossing on minor road, and Existence of median barrier on major road) were found to have random parameters indicating the effects on accident frequencies could be varied at each intersection.
The physical mixture between a rental- and sale housing unit has been introduced as a specific strategy for addressing the issue of residential segregation/isolation by social classes and hence for accomplishing social integration. However, the negative cognition on physical mixture still exists. It is also elusive whether physical mixture can lead to social integration or not. Employing housing survey dataset (2006) with a national-wide simple in Korea, this study aims to provide the basic information on social integration in terms of residential environment by investigating the factors affecting the cognitive evaluation for physical mixture-layout types between a rental- and sale housing unit. According to the degree of the isolation of housing space, physical mixture-layout types are categorized into separation, adjacency, site-mixture, and building-mixture. Empirical models are analyzed by multinomial logit model to quantify the statistical significance and magnitude of variables. The results showed that the satisfaction with neighborhoodship was consistently significant in explaining the positive evaluation for the type of adjacency, site-mixture, and building-mixture. Interestingly, the lower the degree of physical isolation is, the higher the effect of social connectedness is. Based on these findings, a multi-dimensional housing policy for improving the level of neighborhoodship should be preferentially considered in order to mitigate the negative cognition on physical mixture and hence to meet the actual goal of social integration.
The purpose of this study is to figure out impacts on local finance by the changes in property taxes by the changes in Publicly Noticed Values of Real Estate (PNV) which are different by property type and region. Based on the analysis on the changes, this study found that the gaps between local finances are getting greater by the changes in PNV. If the ratio of PNV to market price is changed to 80~100%, it is estimated that 2.0~4.7 trillion won in Property Tax (PT), 0.5~1.2 trillion won in Local Resource and Facility Tax and Local Education Tax (a surtax of PT), and 0.8~2.3 trillion won in Comprehensive Real Estate Holding Tax (CREHT) will increase respectively. In this case, local tax revenue is expected to increase by 4.5~10.9%. Local revenue including local subsidies is expected to increase by 2.0~5.1% in overall. The ratio of the local tax tax revenue of upper 20% regional level governments to lower 20% and that of local revenue are getting greater as of 7.81~8.16 and 6.52~6.65 respectively. Given the worsening regional balance in Korea, an appropriate measures needs to be developed to address the problem of widening gaps of local finance by the changes in PNV. Shared-tax revenue for fiscal equalization can be a feasible option to reduce the gaps between local governments. In addition to this, an improvement of criteria of local distribution of the revenue of CREHT to local governments can also contribute to the better balance.
From the monitoring standpoint of the urban regeneration project, this study suggested the tasks and the policy implications of urban regeneration by analyzing the land use characteristics and the change of pedestrian volume in the CBD of Jeonju-si. Firstly, pedestrian volume is closely related to the construction of a building and tends to decrease where there are many idle spaces such as empty buildings. It needs a measure to increase economic activity population through the enhancement of land use. Secondly, due to culture and tourism based urban regeneration strategy, the pedestrian volume has been concentrated on holidays or specific time zone, and the urban function has been changed to tourism service function. It is necessary to make systematic management and regeneration plan of CBD considering such changing pattern. Thirdly, there is lack of connection of pedestrian axes between hub districts in the CBD. In order to improve the circulation of citizens and tourists, it is necessary to establish a walking circulation system through public facilities maintenance and street maintenance. Fourthly, since there is a limit to the measurement of the urban regeneration effect only by pedestrian volume, it is necessary to improve the objectivity of the project evaluation compared with other performance indicators.