The phenomenon of unsold new housing stocks is an important indicator in the housing market system; it is directly related to the profitability of the construction business and appears as a result of an imbalance in the demand and supply of houses. Changes in demand-supply because of various factors are another phenomenon that occurs in the housing market. It is considered that these changes in demand-supply are closely related to the unsold new housing stocks. Therefore, we analyze the relationship between demandsupply in the housing market and unsold new housing stocks using the vector error correction model. We used data from Seoul as the spatial scope of this study, and the temporal scope of time series data ranged from July 2001 to July 2009. To obtain the time series data, databases of the Ministry of Land, Transport and Marine Affairs, Statistics Korea, CERIK, and Kookmin Bank were utilized. The results of variance decomposition analyses indicated that for changes in unsold new housing stocks, the explanatory powers of housing selling price indexes and housing loans were high while the explanatory powers of production factors were relatively low. Based on the results of impulse response analyses, the quantity of unsold new housing stocks showed larger changes in response to the impulses of housing prices and housing loans than to the impulse of production factors. Also, it was indicated that, among the production factors, unsold new housing stocks showed a pattern of continued change in relation to the financing status of suppliers while showing impromptu responses to the impulses of the material or manpower situation but no continued change.

No abstract

No abstract

No abstract

This research focuses on comparing the impact that working conditions have on the job satisfaction of Korean and Chinese-Korean construction workers. The data shows that factors such as the quality of wages, food catering, and leisure facilities showed a positive correlation on the workers' satisfaction. Further comparative analysis showed differences between the effect these factors have on the satisfaction of Korean workers and Chinese-Korean workers, who occupy the highest portion of the foreign workforce in Korea. The analysis concluded that to the Chinese-Korean workers, wage had the strongest impact on their satisfaction over other factors, whereas this difference was not present in the Korean workers. The results of this study highlighting these differences between the worker groups can contribute to developing the efficiency of the management of construction sites in Korea.