Changing Korean Housing System and Its Structural Forces

Lee, Hyun-Jeong

doi:10.3130/jaabe.16.519

Cited by 3 publications

(7 citation statements)

References 10 publications

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“…The TMHD permanently changed the course of housing and urban development in Korea (Ronald and Lee, 2012). The Korean program helped transition the majority of the country’s households from living in single-family homes to apartments (Lee, 2017; Choi et al , 2013; Park and Ferrari, 2011). The TMHD also resulted in lower-income households concentrated outside of urban centers.…”

Section: Discussionmentioning

confidence: 99%

“…Unlike the TMHD, the recent mass housing initiative substantially increased unit size and quality as well as public financing for low-income housing stock, longstanding issues for recipient households (Kim, 1997). The latter helped stimulate increased partnership with the private sector (Lee, 2017). As a result, Korea’s public rental units nearly doubled and there have been aspirations to further increase these units to more than 10 plus per cent of national stock in the near future (Kim and Park, 2016; Ronald and Jin, 2010).…”

Section: Korea’s Two Million Housing Drive (Tmhd)mentioning

confidence: 99%

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The Two Million Housing Drive in Korea

Feather¹

2019

IJHMA

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Purpose Emerging states confront staggering shortages in adequate housing stock. In response, governments have sought various supply-based solutions to mitigate growing housing deficits. While many of these mass housing efforts have not produced the desired outcome, the Republic of Korea’s Two Million Housing Drive (TMHD) was a comparatively successful intervention with its implementation from 1988 to 1992. The five-year initiative exceeded its objective with the construction of over 2.1 million units – of which two-thirds were built by the private sector. The purpose of this study is to analyse Korea’s relatively effective supply-based affordable housing approach and then extrapolate best practices and lessons learned with applications for real estate markets in the developing world. Comparative understanding of the TMHD can help promote greater access to adequate housing in the developing world, especially for the many who continue to live in impoverished conditions. Design/methodology/approach The research uses content-based and quantitative methods to analyze the case of the TMHD in Korea toward informing improvements in corresponding supply-based housing policies and programs in developing states. Findings While there were challenges with the TMHD, the program repositioned Korea’s urban housing market with greater access to affordable housing in cities for the lower-income and vulnerable. The TMHD enabled the subsequent effectiveness of demand-based housing policies. Research limitations/implications There are research limitations in fully understanding the complex relationships between mass housing programs, economic growth and government policies. The abductive reasoning used in this case study enables in-depth analysis of the TMHD with generalizable inferences for middle-range theories with applications for emerging markets. Practical implications The experience of the TMHD can promote policy harmonization by helping optimize corresponding mass housing efforts in the developing world with the potential to similarly close quantitative housing deficits and expand access to adequate housing for lower-income and vulnerable households. Social implications Deeper understanding of the TMHD can lead to reforms of other mass housing initiatives in emerging markets to make adequate housing more accessible and economical for the benefit of underserved segments of society. Originality/value The Korean experience with the TMHD can inform the optimization of other similar large-scale policies and programs seeking to sustainably overcome shortfalls in adequate housing that have become all too common in the developing world.

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Section: Discussionmentioning

confidence: 99%

Section: Korea’s Two Million Housing Drive (Tmhd)mentioning

confidence: 99%

The Two Million Housing Drive in Korea

Feather¹

2019

IJHMA

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“…Backed by the persistence of high demand for housing from the second half of the twentieth century, the housing system of South Korea (hereafter Korea) has aimed at the efficient use of limited land, leading to a strong preference for high-density housing, commonly known as apartments, which symbolizes middle-class housing [1][2][3][4]. Accordingly, the housing policy has been continuously transformed by the interlocking effects of the politico-economic and socio-demographic changes [2,5]. It is evident that the impact of the former was conspicuous during the periods of industrial growth and the effect of the latter became more pervasive in the post-industrial era.…”

Section: Introductionmentioning

confidence: 99%

“…Indeed, the state is expected to be a super-aged society in 2025, and since 2020, it has already witnessed population decline, with the number of total population in the Seoul Metropolitan Area (SMA) surpassing that in non-SMA regions, deaths outpacing births, and dependent populations (children and elderly people) outnumbering the working-age population [7,8]. Although the official housing ratio, calculated by dividing the amount of housing stock by the number of households, was numerically realized in 2008, the number of households has been steadily escalating, and a dramatic increase in the number of one-and two-person households has still sustained the demand for housing [2,5,8]. As a non-traditional family arrangement, single-person households mostly consist of young adults or older adults [8,9].…”

Section: Introductionmentioning

confidence: 99%

“…Land 2024, 13, 394 2 of 20 Meanwhile, it is obvious that these socio-demographic shifts have normatively reformulated housing consumption in terms of structure type, tenure mode, size, and expenditure [2,5]. As a prolonged period of low interest rates has fueled abundant liquidity and subsequently surged housing prices, the housing cost burden has continued to rise, making it difficult for many to afford [10].…”

Section: Introductionmentioning

confidence: 99%

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Spatial Disparity and Residential Assessment of Housing Cost-Burdened Renters

Lee

2024

Land

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With the expanding rental sector and rising housing expenses, this research aims to compare the socio-demographic, economic, and housing statuses of renters burdened by housing costs in four regions, and also to explore predictors affecting their residential assessment. Using data from the 2020 Korean Housing Survey, this cross-sectional study identified 245 cost-burdened households whose housing expenses accounted for more than 25% of their total gross income and living expenses. The results revealed that the majority of renters were single-person households residing in single-room occupancy units of multifamily housing, primarily comprising unemployed older adults aged 50 and over. While earning less than half of the minimum wage, the renters’ living expenses fell well below the minimum cost of living, and more than 40% of the expenditure was spent on housing costs, resulting in cost-overburdened households. With the correlation between income, deposit, and rent, the burden of housing costs and the quality of the residential environment varied among regions. Indeed, the residential assessment of the renters was significantly influenced by urban amenities, and both income deficits and excessive housing cost burdens required inclusive and prompt housing interventions including housing assistance, provision of affordable public housing, income transfer, and transitions from renting to Chonsei arrangements.

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Socioeconomic Status, Housing Outcomes and Residential Assessment of Young One-Person Households

이현정¹,

김모윤²

2019

JKHA

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Changing Korean Housing System and Its Structural Forces

Cited by 3 publications

References 10 publications

The Two Million Housing Drive in Korea

The Two Million Housing Drive in Korea

Spatial Disparity and Residential Assessment of Housing Cost-Burdened Renters

Socioeconomic Status, Housing Outcomes and Residential Assessment of Young One-Person Households

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