Earticle

This study examines the economic impacts of region-led youth employment projects, focusing on their effects on local economies. The analysis identifies two primary economic outcomes: increased production and heightened consumption expenditure. Findings reveal that the economic effect of production growth surpasses that of consumption expenditure. This suggests that maximizing the economic benefits of employment support initiatives requires prioritizing production enhancement. Unlike other support programs, employment projects yield significant economic effects only when tied to production increases. Consequently, effective support for production growth is critical, as employment aid disconnected from production yields limited economic returns. To optimize outcomes, the selection of support recipients should incorporate an assessment of businesses’ employment conditions, ensuring that aid effectively addresses labor shortages and boosts productive capacity.

The Seoul Metropolitan Area Logistics Center is the center of domestic and international logistics activities and provides various logistics services such as product storage, classification, and transportation. As the e-commerce industry grows after COVID-19, the role of logistics centers has become more important. Logistics centers are recognized as investment properties not only in the distribution industry but also in the real estate industry, and development and investment have increased rapidly since 2020. However, compared to the level of interest in logistics centers, academic research is still lacking. The purpose of this study is to analyze factors influencing actual transaction prices of logistics centers located in the metropolitan area using a spatial regression model. By examining transaction dynamics and regional characteristics, this study aims to enhance the understanding of logistics center pricing and provide strategic insights for future development and investment. In addition, the findings seek to guide policy development for optimizing logistics infrastructure and supporting sustainable logistics industry growth.

In Korea, various studies on modular housing have begun since the early 2000s, and small-scale cases are continuously being conducted, and social awareness is increasing as it has evolved into a locational function as an alternative residential space. This study attempted to derive the preference factors of the modular housing potential use class and to analyze whether the preference factors derived through the study affect the potential use class. In detail, 21 preference factors were derived through related theories, previous research review and empirical cases, and in-depth interviews. As a result of the factor analysis, the representative preferences of modular housing were ‘quick construction and eco-friendliness’, ‘cost reduction and efficiency’, ‘lifestyle response’, and ‘customization of various housing options’, and a regression analysis was conducted to understand the impact on residential intention based on the results of this factor analysis. As a result of the analysis, it was confirmed that all of the four preference factors had a positive effect on residential intention, and the analysis results of the age class showed that the preference factors of modular housing among the various housing selection opportunities among the potential users of modular housing were classified according to the characteristics of the preference factors for residential intention, and they had various effects. This implication is that in terms of a change in the housing paradigm, the concept has been extended to work and leisure spaces in addition to the essential functions of rest and recharging, and modular housing can be an important means of providing living spaces in conjunction with cultural phenomena.

With the advent of the Fourth Industrial Revolution, industry convergence is accelerating, and the real estate sector is no exception. This study examines the structural transformation of the proptech industry in Korea, which has emerged from the convergence of the real estate industry and Knowledge-IT industry. The models used in this study are input-output model and structural path analysis. The analysis data is based on the 2000 and 2020 industry association tables published by the Bank of Korea, and the classification of industries is reclassified into 27 and 8 sectors based on the basic sectors of the industry association tables (168 and 165). The findings reveal significant changes in the proptech ecosystem. First, the output production of the real estate, knowledge services, and IT services industries have increased. Second, the input of knowledge services and IT service technologies into the real estate sector was significantly higher in 2020 compared to 2000. Third, ripple effect analysis demonstrates the growing influence of knowledge and IT services on the real estate industry. Lastly, the diversity of pathways in the real estate sector has expanded, with a marked increase in interactions involving knowledge services and IT services. These results indicate that the real estate industry is increasingly leveraging software oriented expertise and IT services, fostering the development of a new value chain within the industry.

This study examines the factors influencing tenants' anxiety about security deposit refunds, an issue that can lead to rental disputes and potential fraud. Using binary logistic regression analysis on data from the Microdata Integrated Service, we identified several significant predictors of this anxiety. Among household characteristics, family composition emerged as a key factor. Economic variables including debt status, security deposit amount, and total assets significantly affected anxiety levels. Housing characteristics such as occupancy type and housing type also played important roles. Additionally, regional variations were substantial, with significant differences observed in 14 of the 17 studied regions. These findings highlight the need for targeted housing policies that address the diverse circumstances of tenants across different demographic, economic, housing, and geographic contexts. Such tailored approaches could help mitigate security deposit concerns and improve rental market experiences.

This study analyzes the migration patterns of the youth population in declining population areas and the factors of migration to outside the metropolitan regions. The results show that quality jobs are an important factor for youth migration in declining population areas. They moved to places with a high diversity of jobs in the professional, scientific, and technical fields that young people prefer. In addition, the number of cafes for daily needs of young people had a positive effect on youth migration. Moreover, youth policies and networks such as youth-friendly small and medium-sized enterprises and youth support centers in outside the metropolitan regions were important factors in youth migration. A youth-friendly corporate culture that provides job security, work-life balance, and a favorable working environment for young people has a positive impact on youth migration. This is also true for small and medium-sized cities in outside the metropolitan regions, with youth migrating to areas with more youth-friendly mid-sized and small businesses. Considering the youth population migration patterns and regional characteristics of outside the metropolitan regions, this study suggests regional policy implications for cooperation and linkages among regions.

The purpose of this study is to analyze the effectiveness of private equity liquidity in public-supported private rental housing development. For this study, a model of the new capital structure is developed to assess its effectiveness across various scenarios. The results of this study are as follows. First, it was found that the sale conversion price has a strong relationship with all the factors of private investors, such as the purchase price discount rate, the size of the dividend of class shares, the sale conversion price, and the return on private investors. Second, it proved that the major share transfer requirements, which can be a loss risk for private investors, have a direct impact on investment decisions, such as the sale price cap regulation, the right to purchase the tenant, and the credit rating standard of the transferee, which are at issue in the public-supported private rental housing policy. Third, three hypotheses for analyzing the effectiveness of the new private stock securitization structure set for the actual target site were proved as follows. 1) The discount rate of the purchase price has a positive (+) relationship with the return of private investors. 2) The dividend size of class stocks has a negative relationship with the return on common stocks. 3) The conversion price is positively related (+) to the return on class and common stocks.