IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v12y2020i2p600-d308435.html
   My bibliography  Save this article

Optimal Project Planning for Public Rental Housing in South Korea

Author

Listed:
  • Jae Ho Park

    (Department of Social Housing, Gyeonggi Urban Innovation Corporation, Suwon 16556, Korea)

  • Jung-Suk Yu

    (School of Urban Planning & Real Estate Studies, Dankook University, Yongin 16890, Korea)

  • Zong Woo Geem

    (College of IT Convergence, Gachon University, Seongnam 13120, Korea)

Abstract

Although Korea has made notable progress in the availability of public rental housing, Korea’s public rental housing representing 6.3% of the country’s total housing is still below the 8% OECD average from 2016. The Seoul Metropolitan Area (composed of Seoul City, Incheon City, and Gyeonggi Province) has nearly 50% of the country’s population, but 11% of the nation’s territory, meaning the area suffers from an acute shortage of public rental housing. This is a serious problem which is hampering the sustainability of Korean society in general. We will examine the possibility of improving this public housing problem using certain algorithms to optimize decision making and resource allocation. This study reviews two pioneering studies on optimal investment portfolio for land development projects and optimal project combination for urban regeneration projects, and then optimizes a public housing investment combination to maximize the amount of public rental houses in Gyeonggi province using optimization techniques. Through the optimal investment combination, public rental houses were found to be more efficiently and sustainably planned for the community.

Suggested Citation

  • Jae Ho Park & Jung-Suk Yu & Zong Woo Geem, 2020. "Optimal Project Planning for Public Rental Housing in South Korea," Sustainability, MDPI, vol. 12(2), pages 1-14, January.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:2:p:600-:d:308435
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/12/2/600/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/12/2/600/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Afsana Haque & Yasushi Asami, 2011. "Optimizing Urban Land-Use Allocation: Case Study of Dhanmondi Residential Area, Dhaka, Bangladesh," Environment and Planning B, , vol. 38(3), pages 388-410, June.
    2. Jin Hui Lee & Sangyon Lim, 2018. "An Analytic Hierarchy Process (AHP) Approach for Sustainable Assessment of Economy-Based and Community-Based Urban Regeneration: The Case of South Korea," Sustainability, MDPI, vol. 10(12), pages 1-14, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hyunsoo Kim & Youngwoo Kwon & Yeol Choi, 2020. "Assessing the Impact of Public Rental Housing on the Housing Prices in Proximity: Based on the Regional and Local Level of Price Prediction Models Using Long Short-Term Memory (LSTM)," Sustainability, MDPI, vol. 12(18), pages 1-25, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chenhao Zhu & Jonah Susskind & Mario Giampieri & Hazel Backus O’Neil & Alan M. Berger, 2023. "Optimizing Sustainable Suburban Expansion with Autonomous Mobility through a Parametric Design Framework," Land, MDPI, vol. 12(9), pages 1-31, September.
    2. Lin, Sheng-Hau & Huang, Xianjin & Fu, Guole & Chen, Jia-Tsong & Zhao, Xiaofeng & Li, Jia-Hsuan & Tzeng, Gwo-Hshiung, 2021. "Evaluating the sustainability of urban renewal projects based on a model of hybrid multiple-attribute decision-making," Land Use Policy, Elsevier, vol. 108(C).
    3. Henrique Sala Benites & Paul Osmond & Deo Prasad, 2022. "A Future-Proof Built Environment through Regenerative and Circular Lenses—Delphi Approach for Criteria Selection," Sustainability, MDPI, vol. 15(1), pages 1-33, December.
    4. Jing Yao & Xiaoxiang Zhang & Alan T. Murray, 2018. "Spatial Optimization for Land-use Allocation," International Regional Science Review, , vol. 41(6), pages 579-600, November.
    5. Alvanchi, Amin & Jafari, Mohammad Amin & Shabanlou, Mohammad & Meghdadi, Zeinab, 2021. "A novel public-private-people partnership framework in regeneration of old urban neighborhoods in Iran," Land Use Policy, Elsevier, vol. 109(C).
    6. Mateusz Hämmerling & Joanna Kocięcka & Stanisław Zaborowski, 2021. "AHP as a Useful Tool in the Assessment of the Technical Condition of Hydrotechnical Constructions," Sustainability, MDPI, vol. 13(3), pages 1-26, January.
    7. Shuai Cao & Dong Tian & Xiaoshuan Zhang & Yunxian Hou, 2019. "Sustainable Development of Food Processing Enterprises in China," Sustainability, MDPI, vol. 11(5), pages 1-20, March.
    8. Chuloh Jung & Jihad Awad, 2023. "Sharjah Sustainable City: An Analytic Hierarchy Process Approach to Urban Planning Priorities," Sustainability, MDPI, vol. 15(10), pages 1-21, May.
    9. Junpai Chen & Yue Chen & Yitong Zhu & Mingyan Xiao & Hongfei Yang & Huaming Huang & Linli Li, 2023. "Assessing the Sustainability of Urban Community Renewal Projects in Southern China Based on a Hybrid MADM Approach," Sustainability, MDPI, vol. 15(4), pages 1-33, February.
    10. Doil Kim & Kabsung Kim, 2022. "Financial Support for Neighborhood Regeneration: A Case Study of Korea," Sustainability, MDPI, vol. 14(14), pages 1-17, July.
    11. Yunxi Bai & Shanshan Wu & Yunjie Zhang, 2023. "Exploring the Key Factors Influencing Sustainable Urban Renewal from the Perspective of Multiple Stakeholders," Sustainability, MDPI, vol. 15(13), pages 1-21, July.
    12. Bo-Wei Zhu & Ying He Xiao & Wei-Quan Zheng & Lei Xiong & Xia Yun He & Jian-Yi Zheng & Yen-Ching Chuang, 2022. "A Hybrid Multiple-Attribute Decision-Making Model for Evaluating the Esthetic Expression of Environmental Design Schemes," SAGE Open, , vol. 12(2), pages 21582440221, April.
    13. Hyun Woo Kim & Dakota Aaron McCarty & Jaekyung Lee, 2020. "Enhancing Sustainable Urban Regeneration through Smart Technologies: An Assessment of Local Urban Regeneration Strategic Plans in Korea," Sustainability, MDPI, vol. 12(17), pages 1-23, August.
    14. Can Kara & Aminreza Iranmanesh, 2022. "Modelling and Assessing Sustainable Urban Regeneration for Historic Urban Quarters via Analytical Hierarchy Process," Land, MDPI, vol. 12(1), pages 1-20, December.
    15. Francisco Sergio Campos-Sánchez & Rafael Reinoso-Bellido & Francisco Javier Abarca-Álvarez, 2019. "Sustainable Environmental Strategies for Shrinking Cities Based on Processing Successful Case Studies Facing Decline Using a Decision-Support System," IJERPH, MDPI, vol. 16(19), pages 1-20, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:2:p:600-:d:308435. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.