Boost, control, or both of Korean housing market: 831 countermeasures

Moonseo Park, Man Hyung Lee, Hyun Soo Lee, Sungjoo Hwang

Research output: Contribution to journalArticlepeer-review

13 Scopus citations

Abstract

Although the Korean government reported a housing supply ratio of more than 100% in the early 2000s, regional and class disparities in the Korean housing sector have not been correspondingly alleviated. Unfortunately, many Korean households are still enduring the economic burden caused by cyclical price variation, while many housing construction companies are on the verge of bankruptcy. To resolve the ever-expanding socioeconomic problems in the housing and real estate sector, the current Korean government proposed 831 Countermeasures, which has since met with much controversy. In an effort to address these issues, this paper utilizes a qualitative system dynamics model to elucidate and interrogate complex Korean housing mechanisms. By mapping bibliographical and experimental knowledge with causal loop diagrams, the positive and adverse effects of the 831 Countermeasures are also analyzed. Finally, based on the research findings, alternative policy guidelines are proposed that can be used to strengthen positive housing structures and obviate negative ones.

Original languageEnglish
Pages (from-to)693-701
Number of pages9
JournalJournal of Construction Engineering and Management
Volume136
Issue number6
DOIs
StatePublished - 2010

Keywords

  • 831 Countermeasures
  • Korean housing market
  • Policies

Fingerprint

Dive into the research topics of 'Boost, control, or both of Korean housing market: 831 countermeasures'. Together they form a unique fingerprint.

Cite this