Year of Publication
Martin School of Public Policy and Administration
Dr. J. S. Butler
Since April 2013, the Korean government has implemented a series of plans to stabilize the housing market, which has suffered from falling housing prices and surging rent after the 2008 financial crisis. This study estimates the effectiveness of the government's plans by analyzing the housing satisfaction of 2012 and 2014 Korea Housing Survey (KHS). The data used in this study are collected from the KHS carried out by the Ministry of Land, Infrastructure and Transport (MOLIT)
This study uses 2012 and 2014 KHS to show that some variables and subcategories of household and housing attributes have positive or negative correlation with housing satisfaction. The analysis of 2012 and 2014 KHS indicates a few tendencies about how the government's plans affect housing market. First, the government's plans are likely to lower the dissatisfaction of the households living in 'Jeonse' and 'monthly rent' housing; but the positive impact is considered to be insufficient to completely stabilize the rental housing market. Second, the government's plans are likely to more positively affect the households living in 'metropolitan' and 'other region' than in 'capital area.' Third, the supply extension plan of public rental housing is likely to be effective because residents living in public rental housing tend to be satisfied with their housing. Finally, despite the introduction of the Housing Voucher Program, recipient households are dissatisfied with their housing. Therefore, the housing authority will need to have consistent interest in their housing satisfaction.
Gunseuk, Yoo, "Housing Satisfaction in South Korea" (2016). MPA/MPP/MPFM Capstone Projects. 272.