1. CONTENTS
(1) RESEARCH OBJECTIVES
The purpose of this study is to figure out the structural change and the main labor-induced factors influencing the growth of Korean Real Estate Industry.
(2) RESEARCH METHOD
This study was focused on the structural decomposition analysis by using the Input-Output tables(Bank of Korea). In this study, we used the Input-Output tables of basic prices on the base of the Year 2005 in inducing the coefficients and compositions among gross demand and supply configurations. Gross demand and supply configurations were based on the 168 sectors integrated from the 352-355 basic sectors.
(3) RESEARCH FINDINGS
First or all, the contributing labor-induced factors that has promoted the Real Estate Industry has been found as follows: in order of the Consumption Demand (76.4%), the Investment Demand (17.8%), the Export Demand (5.7%) among the final demand factors and so on, in 2007. Second, while the degree of labor contribution of Consumption Demand has been increased, that of Investment and Export Demand has been decreased.
2. RESULTS
For this reason, some policy measures to boost both domestic Investment Demand and Export Demand must be devised as early as possible. Therefore, policy proposals that can raise the labor competitiveness of domestic Real Estate services through the forward linkage (i.e., finance and insurance, producer's support services, etc) must be made in the near future.