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A Study on the Determinants of Sales in the Food Service Industry in the Transit Station Area in Seoul

  • Korea Real Estate Review
  • 2020, 30(3), pp.53-70
  • DOI : 10.35136/krer.30.3.4
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Received : August 18, 2020
  • Accepted : September 23, 2020
  • Published : September 30, 2020

kim yong rae 1,  Baek, Sung-Joon 2

1코레일
2한성대학교

Accredited

ABSTRACT

This study compared and analyzed the location factors affecting sales of the food service industry overall and sales of the Korean food service industry using the OLS model, SLM, and SEM spatial regression model by targeting commercial areas around the transit station area in Seoul. Results of the study are as follows. First, it was found that the food service industry overall and the Korean food industry had a spatial autocorrelation, exhibiting a strong tendency to cluster in GBDs rather than in CBDs and YBDs. Second, in terms of the model’s suitability, the SEM model was found to be superior over the OLS and SLM models for the food service industry overall and for the Korean food industry. Third, the ratio of apartment households and the number of entrances of subways and whether or not to transfer to express trains have a positive effect on sales and so does the number of large-commercial facilities. Fourth, among the transfer factors considered important in this study, the number of transit trains had a negative effect on sales of the food industry overall and the Korean food industry, but it is important that the result has a statistical significance on sales of the Korean food industry. In conclusion, this study has several merits. First, it focused on the factors of transportation and transfer that were not covered in previous studies. It is also important to examine the development of commercial areas around the subway and other public transportation stations when establishing a restaurant business in the transit station area. In addition, as the food service industry is clustered at the GBD, it is necessary to analyze the determinant factors and to formulate a meaningful policy for the development of the commercial areas around CBD.

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