[논문]The Evolving Roles of the Public and Private Sectors in Korea's Public Rental Housing Supply

Kim, Yoon-jung; Park, Hye Jung

doi:10.5659/aikar.2020.22.3.85

The Evolving Roles of the Public and Private Sectors in Korea's Public Rental Housing Supply 원문보기

Architectural research, v.22 no.3, 2020년, pp.85 - 95

Kim, Yoon-jung (Environmental Planning Institute, Seoul National University) , Park, Hye Jung (Department of Urban Sociology, University of Seoul)

Abstract ▼ AI-Helper

While there has been a substantial amount of studies on public rental housing of Korea, most have focused on housing policy changes, international comparisons, and current characteristics and future prospects. This article aims to examine the evolving roles of the national and local governments, and the private sector in provision of Korea's public rental housing. The findings suggest that one, although the wave of neoliberalism and financial crisis have prompted the national government to reduce its role and to encourage engagement of other actors by utilizing incentivizing tools, it has continued to assume a central position in formulating and implementing housing supply plans. Two, local governments have played a marginal role throughout the history of public rental housing supply, although they have expanded their participation through redevelopment projects and utilization of existing housings. Three, private sector actors have expanded their role to delivering public benefits of making housing available for a wider range of populace leveraging various incentives that make projects financially more feasible. The study poses a question on how responsibilities and risks can appropriately be allocated among three key actors to achieve housing welfare going forward.

주제어

표/그림 (5)

표 Table 1. Public Rental Housing Sector in Western and East Asian Countries
표 Table 2. Public and Private Rental Housing Stock (2018)
그림 Fig 1. Construction Amount of Public Rental Housing (1989-2018)
표 Table 3. Housing-Related Functions Transferred from the National Government to Local Governments
표 Table 4. Total Stock of Public Rental and Government-Assisted Private Rental Housings by the Private Sector (2014-2018)

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문제 정의

The study has examined the evolving roles of the national government, local governments and the private sector in provision of public rental housing in Korea. The following summarizes the main findings.
On the other hand, they are provided with incentives to promote production in the private rental market. This article focuses on both public rental housing as well as government-assisted private rental housing.
In more recent years, the Korean government introduced the concept of government-assisted private rental housing in the private market that serves public purpose while provided with various incentives that make the project more feasible. This was aimed to solve increasing fiscal constraints and to make rental housing available to a wider range of populace by leveraging private capital and market expertise. With its first construction completion in 2014, the total stock of government assisted private rental housing had exceeded that of public rental housing provided by the private sector by 2018.
However, there had not been an approach that comprehensively examined the roles of different actors that have characterized the country's housing sector. To fill this gap, this article aims to examine the evolving roles of the national and local governments, and the private sector in provision of Koreas public rental housing.

제안 방법

4 This was meant to accommodate demographic changes in falling birth rates and growing one-to-two person households.5 In particular, since housing is a major cost that affect household fertility decision (Dettling & Kearney, 2014； Pong et al., 2018), the program was designed to alleviate housing cost burden of the newlyweds. In addition, the Park administration placed greater attention to promoting private sector participation.
4 This was meant to accommodate demographic changes in falling birth rates and growing one-to-two person households.5 In particular, since housing is a major cost that affect household fertility decision (Dettling & Kearney, 2014； Pong et al., 2018), the program was designed to alleviate housing cost burden of the newlyweds. In addition, the Park administration placed greater attention to promoting private sector participation.
The program was targeted towards middle-income households that do not own a home, emphasizing the use value rather than asset value of housing. Since the program did not involve any state subsidy, there have been financial challenges to budget constraints and high management costs (Lee & Sung, 2017a).

대상 데이터

The methodology ofthis study encompasses comprehensive literature review ofvarious sources including published books, academic papers, laws and regulations, public documents as well as official statistics published by government agencies. Following this section, the article first reviews international experiences of changes in the roles ofthe public and private sectors in public rental housing supply.

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