@article{ART003215222},
author={Park Myunghwa and Seon-Jong Yoo},
title={A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2025},
volume={125},
pages={3-17}
TY - JOUR
AU - Park Myunghwa
AU - Seon-Jong Yoo
TI - A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee
JO - The Korea Spatial Planning Review
PY - 2025
VL - 125
IS - null
PB - 국토연구원
SP - 3
EP - 17
SN - 1229-8638
AB - This study analyzed the factors affecting default using the Korea Housing & Urban Guarantee Corporation's jeonse deposit return guarantee data. As a result of the analysis, it was confirmed that the factors affecting default on the return of jeonse deposits were the amount of jeonse deposits, debt ratio, apartment status, multiple homeowners, tenant jeonse loan status, tenant age, and homeowner age. The debt to equity ratio was identified as a variable supporting the equity capital hypothesis. As the amount of jeonse deposits and the debt ratio increased, the likelihood of default also increased. Apartments showed a lower default rate compared to non apartment housing types. Default was found to increase among multiple homeowners. When the tenant had a jeonse loan, and as both tenant and homeowner age increased, the likelihood of default decreased. Corporate ownership and the rate of change in jeonse prices were not statistically significant. An analysis subdividing the number of houses revealed that the variables influencing default on jeonse deposit return guarantees became more detailed. In particular, when tenants had a jeonse loan, default decreased in cases with one or two guarantees but increased when there were three or more. In the model segmented by the number of guarantees, the corporate owner and the rate of change in jeonse prices were found to be significant variables. When the number of guarantees held by multiple homeowners was limited to fewer than 10, a decrease in homeowner default was confirmed.
KW - Jeonse Deposit;Default;Return Guarantee of Jeonse Deposit;Equity Capital Theory;Binary Logit Model
DO -
UR -
ER -
Park Myunghwa and Seon-Jong Yoo. (2025). A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee. The Korea Spatial Planning Review, 125, 3-17.
Park Myunghwa and Seon-Jong Yoo. 2025, "A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee", The Korea Spatial Planning Review, vol.125, pp.3-17.
Park Myunghwa, Seon-Jong Yoo "A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee" The Korea Spatial Planning Review 125 pp.3-17 (2025) : 3.
Park Myunghwa, Seon-Jong Yoo. A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee. 2025; 125 3-17.
Park Myunghwa and Seon-Jong Yoo. "A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee" The Korea Spatial Planning Review 125(2025) : 3-17.
Park Myunghwa; Seon-Jong Yoo. A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee. The Korea Spatial Planning Review, 125, 3-17.
Park Myunghwa; Seon-Jong Yoo. A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee. The Korea Spatial Planning Review. 2025; 125 3-17.
Park Myunghwa, Seon-Jong Yoo. A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee. 2025; 125 3-17.
Park Myunghwa and Seon-Jong Yoo. "A Study on the Factors Affecting Default on Jeonse Deposit Return Guarantee" The Korea Spatial Planning Review 125(2025) : 3-17.
