KJC Korea
Journal Central

This study intends to examine the short-term effects of demand regulation policies on housing markets of Seoul and the Southeastern and Northeastern subregions during the overheated housing market period. Using a regression discontinuity model, it was found that the December 16th policy in 2019 decreased the prices of both houses under KRW 900 million and houses over KRW 900 million in Seoul, but the effect was larger on the latter than on the former. In the Southeastern subregion, the effect was not significant regardless of the group of housing prices. In the Northeastern subregion, however, the effect was only significant for houses under KRW 900 million. After a certain period of the implementation of the December 16th policy in 2019, the short-term effect decreased. The June 17th policy in 2020 did not show a significant price drop in most models. This study indicates that the short-term effects and duration of demand regulation policies may vary depending on the characteristics of submarkets in Seoul and both the Southeastern and Northeastern subregions. This study suggests that it is necessary to establish sophisticated regulatory policies based on a detailed understanding of the characteristics and changes of housing submarket

The Cambridge region in the UK has been considered to be one of the most innovative and entrepreneurial areas of the world. While many industrial areas of the UK and many other advanced economies have lost their dynamics, Cambridge has been growing with new industries, including those in the digital, semiconductor, instrument, and biomedical fields. A core element of the region’s innovativeness and entrepreneurship is the University of Cambridge, which has been there for over eight centuries since 1209. The university in fact has been playing a key role in making the region dynamic, innovative, entrepreneurial, and liable. This paper attempts to articulate core elements contributing to making the university entrepreneurial, based on the theory of the entrepreneurial university. To collect the data and information required to examine the issue, interviews were conducted in the Cambridge area twice in 2017, along with a subsequent review of the existing literature, statistical sources, and web-pages related to the subject

Korea has seen an increase in the number of shrinking cities, resulting from population loss, economic downturn, employment decline, and social problems. Policy responses have been aimed at promoting entrepreneurial environments by creating the hard infrastructure specifically designed to support the appropriate soft infrastructure. Developing coworking spaces for young entrepreneurs and highly skilled workers is one of these policy responses. In order to understand the roles of coworking spaces in these shrinking cities, a five-month study (October 2021 - February 2022) of coworking spaces in twelve small and medium-sized cities was conducted using two interrelated methods: 1) an online survey of users of coworking spaces in their 20s and 30s and 2) semi-structured interviews with managing staff/owners of coworking spaces. This paper concludes that coworking spaces in small and medium-sized cities play the following roles: 1) ‘hard and soft infrastructure providers’ that provide hard infrastructure, including office spaces, service facilities and office supplies, while simultaneously acting as third-party locations offering emotional and professional support in a friendly environment, 2) ‘local contact points’ where both newcomers and local residents can meet and develop business opportunities, 3) ‘knowledge and cultural disseminators’ that offer services related to education, business tutoring, training, culture, art, and leisure, and 4) ‘creative hubs’ that attract young, talented, knowledge workers who together develop further creative clusters, which in turn brings about an increase in the local population, local jobs, improved standards of living, and revitalized local areas.

This study intends to examine the trends of the balanced regional development policies of the three governments (the Roh Moo-hyun, Lee Myung-bak, and Park Geun-hye governments) since the 2000s through an analysis of the contents of presidential speeches provided by the Presidential Archives. This study employs text mining methodology, specifically using word frequency analysis and text network analysis. The study found that President Roh Moo-hyun delivered the most speeches related to balanced regional development. In particular, while other presidents delivered many speeches related to balanced regional development in their second or third years in office, President Roh delivered the most speeches in his first year of the office. It seems that he was running the government with a strong will for balanced regional development by giving many speeches. In the speeches of the three presidents, many keywords were derived from the ‘values and goals’, ‘entities’, and ‘substantial means’ of balanced regional development. In general, President Roh Moo-hyun presented a variety of words in the field of entities and substantial means.

Land Readjustment (LR), also known as land pooling or land consolidation, has been employed as a method of urban planning and development in numerous nations for nearly a century. Due to the fact that LR does not involve expropriation, it can be a feasible alternative for developing and renewing urban space even in highly urbanized countries. However, LR cannot function as an effective policy tool for urban renewal or high-density development if it stays limited to the mass production of tiny parcels. Based on the experiences of several nations, it has been noted that conventional LR is disadvantageous for built-up areas, and in some nations it has resulted in replotted land being left underdeveloped and vacant for an extended period. This paper investigates and analyzes the application of LR in Korea as a technique for overcoming these constraints. Reconstruction and redevelopment projects that transform LR by exchanging building to building have been actively implemented in densely populated metropolitan areas in Korea. In addition, traditional LR is being actively altered and used to produce large sites and promote apartment complex construction. This paper aims to provide Korea’s trends for comparative research on LR by analyzing the characters and prerequisites that have made this transformation possible.

This study examines the concept of the Maritime Cultural Landscape, which is commonly used in maritime archaeology but receives less recognition than the internationally accepted Cultural Landscape. It highlights the neglect of oceans and coasts in the Cultural Landscape concept, where the emotional and cognitive aspects felt by the landscape subject are significantly disregarded in the concept of the Maritime Cultural Landscape. The study emphasizes the need to reevaluate the significance of ordinary Maritime Cultural Landscapes during the modern times. By comprehensively considering these concepts, the research contributes to a deeper understanding of the distinctive coastal places, people, and cultures that differ from inland areas. It aims to foster an appreciation for the Maritime Cultural Landscape among the current generation, providing a foundation for international and national discussions on its preservation and utilization. Furthermore, it serves as a fundamental concept for policies and research related to the Maritime Cultural Landscape in coastal areas

The Special Act on the Management and Promotion of Urban Industrial Areas was enacted in 2021 to lay the legal basis for systematic urban management of industrial areas. This study derived problems that may arise in the urban management of industrial areas due to differences in industrial facility regulations under industrial laws and urban management laws, and proposed measures to improve these laws and ordinances. If the method of calculating the industrial land area ratio applied to urban management in industrial areas is not clear, it is difficult to reach a consensus among residents in reconstruction projects. Regulations related to industrial facilities may not control functional conflicts between uses or may become excessively regulatory. Therefore, when presenting an urban management plan for industrial areas based on industrial facilities, it is necessary to define them as industries based on the standard industrial classification system rather than the use of buildings

This study aims to evaluate the impact of the disclosure of direct transaction information on the sale prices and transaction volume of apartment complexes in the Seoul Capital Area (Seoul, Gyeonggi, and Incheon). Actual housing transaction data provided by the Ministry of Land, Infrastructure, and Transport (MOLIT) are used in the empirical analysis. The disclosure of direct/brokerage transaction information began from November 2021. Two transaction periods are compared in the empirical regressions: before the disclosure of direct transactions (Jan. 2019 - Sep. 2021) and after the disclosure of direct transactions (Nov. 2021- Mar. 2023). After establishing panel data for each apartment complex, we estimate the panel autoregressive model with fixed effects. When comparing estimation results before and after disclosure, it is confirmed that the first-order autoregressive coefficient is significantly smaller after closure than before. This implies that the apartment sales market is transitioning towards efficiency following the disclosure of direct transactions, thereby helping reduce market volatility. According to the estimated panel fixed effects model, a direct transaction event at time t-1 has a short-run negative impact on the sales price at time t. Our empirical results are expected to explain the reduced price volatility observed in the housing market. Policy authorities try to improve information asymmetry in the real estate market, and through these efforts, the actual housing transaction system can contribute to rectifying housing market failures and inefficiencies