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Crisis Management for Real Estate Policy in Korea - An Analysis on Overheated Speculation Zones Using the Multiple Streams Framework (MSF) -

  • Crisisonomy
  • Abbr : KRCEM
  • 2020, 16(3), pp.1-18
  • DOI : 10.14251/crisisonomy.2020.16.3.1
  • Publisher : Crisis and Emergency Management: Theory and Praxis
  • Research Area : Social Science > Public Policy > Public Policy in general
  • Received : December 31, 2019
  • Accepted : February 24, 2020
  • Published : March 31, 2020

Kim Duk Jo 1 EUN KOOK LEE 2 In Hwan Jang 3 Ji Hae Kim 3

1명지대학교(서울캠퍼스)
2연세대학교
3성균관대학교

Accredited

ABSTRACT

This study was conducted with two research questions. First, what factors influenced the process of policy decision on the designation of “overheated speculation zones” by the Roh administration? Second, what were the roles and effects of the policy and regulations in the real estate market in South Korea? The results of the analysis using the multiple streams framework (MSF) are as follows. The real estate market in South Korea has been affected by various political characteristics of the regulations in relation to overheated speculation zones during the Kim Dae-Jung administration and those of policy measures to mitigate regionalism during the Roh administration. For instance, the Housing Comprehensive Plan announced by the Roh administration in 2003 included strong policies to control speculation in emerging housing markets. It is found that the policies made during the periods when multiple political streams intersected played a key role in connecting housing problems with solutions in South Korea.

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