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Prof. Wonseok Seo
Chung-Ang University

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0 Real Estate Economics
0 Residential environment
0 housing
0 Urban Environments
0 Urban Planning & Policy

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Journal article
Published: 21 August 2021 in Land
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This study examined the price spillover effect of housing submarkets in cities in the Seoul metropolitan area in South Korea by using the Granger causality test and vector autoregressive model (VAR). We found that housing prices showed a higher spillover effect within regions with similar housing market characteristics. Additionally, the spatial spillover of housing prices revealed a difference between sales price and jeonse price. The spillover of jeonse price was characterized by mutual influence among neighboring cities, while that of sales price was characterized by the influence being transferred in one direction hierarchically. Furthermore, the effects of housing price indicated a slight difference between sales price and jeonse price. Although jeonse price was mainly affected by a neighboring area (geographic boundary), sales price was more influenced by the city with the highest housing prices. Lastly, the housing price spillover tended to be expansive around the city with the highest price. These results suggest that housing price policies targeting specific regions or areas in Korea must be differentiated according to the type of occupancy (jeonse or sales), and it is essential to consider the externalities when promoting policies in the housing market wherein externalities may be significant.

ACS Style

Leeyoung Kim; Wonseok Seo. Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area. Land 2021, 10, 879 .

AMA Style

Leeyoung Kim, Wonseok Seo. Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area. Land. 2021; 10 (8):879.

Chicago/Turabian Style

Leeyoung Kim; Wonseok Seo. 2021. "Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area." Land 10, no. 8: 879.

Journal article
Published: 08 December 2020 in International Journal of Environmental Research and Public Health
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Fear of crime has a negative impact on the mental health of individuals, limiting their physical and social abilities. Moreover, the prevalence of such fear in the neighborhood weakens the bonds between neighbors and the overall community network, thereby undermining social capital and impeding the city’s sustainability. Disorder is a multilayered process shaped by type and spatial level and has a complex effect on fear of crime. Using a multilevel ordered logistic model, this study determines a more comprehensive cause of fear of crime by verifying the multilayered effects of disorder in Korea. The results include four main findings. First, people are relatively unaware of disorder occurring at the neighborhood level, and more sensitive to disorder at the city level. Second, social disorder has a more significant effect on fear of crime than physical disorder. Third, fear of crime is more affected by indirect factors than by direct factors and actual crimes. Finally, the impact of disorder on fear of crime is discriminatory, depending on the type and spatial structure. This study suggests that urban policy efforts focus more on indirect and macroscopic aspects in dealing with the decline of cities and managing issues related to social disorder.

ACS Style

Su Jin Kang; Wonseok Seo. The Effects of Multilayered Disorder Characteristics on Fear of Crime in Korea. International Journal of Environmental Research and Public Health 2020, 17, 9174 .

AMA Style

Su Jin Kang, Wonseok Seo. The Effects of Multilayered Disorder Characteristics on Fear of Crime in Korea. International Journal of Environmental Research and Public Health. 2020; 17 (24):9174.

Chicago/Turabian Style

Su Jin Kang; Wonseok Seo. 2020. "The Effects of Multilayered Disorder Characteristics on Fear of Crime in Korea." International Journal of Environmental Research and Public Health 17, no. 24: 9174.

Journal article
Published: 29 September 2020 in International Journal of Environmental Research and Public Health
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Identifying the impact of housing instability on the health status of renters with relatively high economic difficulties is important for the improvement of renters’ quality of life and their social security. Accordingly, this study adopted a panel data regression approach to examine the associations between residential instability and perceived health status—including physical and mental health—using 14 waves (2006–2019) of longitudinal data collected by the Korean Welfare Panel Study. The results showed that residential instability significantly affected perceived health status, and renters who experienced residential instability perceived worse health status and had more severe depression than those who did not experience residential instability. Moreover, failure to meet the minimum housing standard worsened depression in renters. Despite assistance benefits from the government, permanent rental housing and the national basic living security were also factors that worsened depression. Dissatisfaction with one’s residential environment and social relationships were also associated with increased depression. We recommend that the overall quality of housing welfare services, including a focus on the mental health of low-income renters, be improved by expanding the range of services, increasing the number of professional housing welfare workers, and supplying community facilities for increasing residential and social relationship satisfactions.

ACS Style

Kiduk Park; Wonseok Seo. Effects of Residential Instability of Renters on Their Perceived Health Status: Findings from the Korean Welfare Panel Study. International Journal of Environmental Research and Public Health 2020, 17, 7125 .

AMA Style

Kiduk Park, Wonseok Seo. Effects of Residential Instability of Renters on Their Perceived Health Status: Findings from the Korean Welfare Panel Study. International Journal of Environmental Research and Public Health. 2020; 17 (19):7125.

Chicago/Turabian Style

Kiduk Park; Wonseok Seo. 2020. "Effects of Residential Instability of Renters on Their Perceived Health Status: Findings from the Korean Welfare Panel Study." International Journal of Environmental Research and Public Health 17, no. 19: 7125.

Journal article
Published: 08 February 2020 in Sustainability
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This study examined the relationship between housing markets and residential migration to identify if there is a housing refugee phenomenon due to an involuntary ripple effect in the Seoul metropolitan area, South Korea. The study applied Granger causality analysis and a vector error correction model. The empirical results confirmed that changes in housing market conditions cause a ripple effect in surrounding areas in the Seoul metropolitan area, and these changes are easily transmitted to the nearby Gyeonggi housing market. This study shows that intra-metropolitan residential migration may occur due to changes in housing market conditions. Additionally, the study proved that residential migration from Seoul to the nearby Gyeonggi province does not represent the pursuit of a stable residential environment, but is merely involuntary migration due to the financial burden of increased housing costs in Seoul. Finally, the study showed that there may be a ripple effect that intensifies instability in the jeonse market—a type of lease unique to South Korea—that emerged due to residential migration from Seoul. From this perspective, this study confirms that residential migration occurring in the Seoul metropolitan area is the result of an involuntary ripple effect and represents a housing refugee phenomenon.

ACS Style

Wonseok Seo; Leeyoung Kim. Investigating the Ripple Effect through the Relationship between Housing Markets and Residential Migration in Seoul, South Korea. Sustainability 2020, 12, 1225 .

AMA Style

Wonseok Seo, Leeyoung Kim. Investigating the Ripple Effect through the Relationship between Housing Markets and Residential Migration in Seoul, South Korea. Sustainability. 2020; 12 (3):1225.

Chicago/Turabian Style

Wonseok Seo; Leeyoung Kim. 2020. "Investigating the Ripple Effect through the Relationship between Housing Markets and Residential Migration in Seoul, South Korea." Sustainability 12, no. 3: 1225.

Journal article
Published: 30 November 2019 in Journal of Korea Planning Association
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ACS Style

Wonseok Seo. Comparing the Housing Implicit Prices of Restricted and Unrestricted Hedonic Price Models. Journal of Korea Planning Association 2019, 54, 80 -88.

AMA Style

Wonseok Seo. Comparing the Housing Implicit Prices of Restricted and Unrestricted Hedonic Price Models. Journal of Korea Planning Association. 2019; 54 (6):80-88.

Chicago/Turabian Style

Wonseok Seo. 2019. "Comparing the Housing Implicit Prices of Restricted and Unrestricted Hedonic Price Models." Journal of Korea Planning Association 54, no. 6: 80-88.

Journal article
Published: 01 March 2019 in The Korea Spatial Planning Review
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ACS Style

Lee Da Eun; Won-Seok Seo. Analyzing Factors Affecting Duration of Below the Minimum Housing Standard Using Cox Proportional Hazard Model. The Korea Spatial Planning Review 2019, 100, 45 -60.

AMA Style

Lee Da Eun, Won-Seok Seo. Analyzing Factors Affecting Duration of Below the Minimum Housing Standard Using Cox Proportional Hazard Model. The Korea Spatial Planning Review. 2019; 100 (null):45-60.

Chicago/Turabian Style

Lee Da Eun; Won-Seok Seo. 2019. "Analyzing Factors Affecting Duration of Below the Minimum Housing Standard Using Cox Proportional Hazard Model." The Korea Spatial Planning Review 100, no. null: 45-60.

Journal article
Published: 22 November 2018 in Cities
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This study examines whether different income groups have different trade-off preferences between public transportation accessibility and income and economic power. In this study, apartments, the most typical housing type in Seoul, were categorized according to size (small, medium, and large) based on the premise that apartment size is a measure of the economic status of an individual or household. Subsequently, the effect of subway accessibility on apartment prices for the three types of apartments was examined through the conventional hedonic price model and the spatial autoregressive combined model, followed by an investigation of the spatial patterns of the effect with a focus on a geographically weighted regression. As a result, this study finds that, although subway accessibility serves as a positive factor in housing location decisions for most socioeconomic classes, the positive effect is not spatially unanimous, indicating that households with relatively robust economic stability preferred housing locations further away from subway stations in pursuit of a more attractive residential environment. Although high-income households trade greater accessibility to public transportation for a more attractive neighborhood environment, middle-income households more actively pursued convenience and the greenness of their neighborhoods. Households with less economic stability preferred neighborhoods featuring relatively low-cost housing and greater accessibility. These results confirm the prevalence of trade-off between public transportation accessibility and housing size in Seoul, Korea. This also verifies that the spatial division along economic class lines is intensifying, and that perspectives on subway accessibility vary depending on consumers' economic status. The results suggest the need for consumer-tailored public transportation policies that consider the residential location patterns of the socioeconomic classes that are dependent on public transportation. This perspective can improve our understanding of how to distribute mass transportation systems spaces in large cities, particularly where the wealth gap is relatively high.

ACS Style

Wonseok Seo; Hyung Kwon Nam. Trade-off relationship between public transportation accessibility and household economy: Analysis of subway access values by housing size. Cities 2018, 87, 247 -258.

AMA Style

Wonseok Seo, Hyung Kwon Nam. Trade-off relationship between public transportation accessibility and household economy: Analysis of subway access values by housing size. Cities. 2018; 87 ():247-258.

Chicago/Turabian Style

Wonseok Seo; Hyung Kwon Nam. 2018. "Trade-off relationship between public transportation accessibility and household economy: Analysis of subway access values by housing size." Cities 87, no. : 247-258.

Journal article
Published: 31 October 2018 in Journal of Korea Planning Association
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ACS Style

Da-Eun Lee; Wonseok Seo. Analyzing the Impacts of Public Housing Type and Combined Location on Nearby Housing Resale Price. Journal of Korea Planning Association 2018, 53, 103 -116.

AMA Style

Da-Eun Lee, Wonseok Seo. Analyzing the Impacts of Public Housing Type and Combined Location on Nearby Housing Resale Price. Journal of Korea Planning Association. 2018; 53 (5):103-116.

Chicago/Turabian Style

Da-Eun Lee; Wonseok Seo. 2018. "Analyzing the Impacts of Public Housing Type and Combined Location on Nearby Housing Resale Price." Journal of Korea Planning Association 53, no. 5: 103-116.

Journal article
Published: 31 August 2018 in Journal of Korea Planning Association
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ACS Style

Hyunggwon Nam; Wonseok Seo. Analyzing Features of Outflow Household in Local Small and Medium sized Declining Cities. Journal of Korea Planning Association 2018, 53, 57 -70.

AMA Style

Hyunggwon Nam, Wonseok Seo. Analyzing Features of Outflow Household in Local Small and Medium sized Declining Cities. Journal of Korea Planning Association. 2018; 53 (4):57-70.

Chicago/Turabian Style

Hyunggwon Nam; Wonseok Seo. 2018. "Analyzing Features of Outflow Household in Local Small and Medium sized Declining Cities." Journal of Korea Planning Association 53, no. 4: 57-70.

Research articles
Published: 01 March 2018 in Journal of Real Estate Research
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The purpose of this study is to investigate the discount impact of the neighborhood condition on the difference between house list and final selling prices. I use a multiple regression model with d-statistics methodology to estimate the discount impact. The results show that real estate agents systematically overestimate house prices in areas affected by physical disorder. The real estate agents lack the data and methods to arrive at reliable price estimates, and the neighborhood condition provides explanatory power for a large portion of the difference between sales price and list price, supporting the assumption that neighborhood disorder is associated with declining sales prices.

ACS Style

Wonseok Seo. Does Neighborhood Condition Create a Discount Effect on House List Prices? Evidence from Physical Disorder. Journal of Real Estate Research 2018, 40, 69 -87.

AMA Style

Wonseok Seo. Does Neighborhood Condition Create a Discount Effect on House List Prices? Evidence from Physical Disorder. Journal of Real Estate Research. 2018; 40 (1):69-87.

Chicago/Turabian Style

Wonseok Seo. 2018. "Does Neighborhood Condition Create a Discount Effect on House List Prices? Evidence from Physical Disorder." Journal of Real Estate Research 40, no. 1: 69-87.

Journal article
Published: 31 October 2017 in Journal of Korea Planning Association
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ACS Style

Hyunggwon Nam; Wonseok Seo. Analyzing Time Series Value Change of Apartment Characteristics based on Reconstruction Expectation. Journal of Korea Planning Association 2017, 52, 199 -211.

AMA Style

Hyunggwon Nam, Wonseok Seo. Analyzing Time Series Value Change of Apartment Characteristics based on Reconstruction Expectation. Journal of Korea Planning Association. 2017; 52 (5):199-211.

Chicago/Turabian Style

Hyunggwon Nam; Wonseok Seo. 2017. "Analyzing Time Series Value Change of Apartment Characteristics based on Reconstruction Expectation." Journal of Korea Planning Association 52, no. 5: 199-211.

Journal article
Published: 31 August 2017 in SH Urban Research & Insight
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The purpose of this study was to analyze the perception of public housing associated with its necessary, supply, and types by family life cycle to provide implications and suggestions. For empirical analysis, family life cycle was classified into four types: emerging family, family formation, family with school-age children, and family contraction. Difference in life cycle perception was analyzed using analysis of variance (ANOVA) and Duncan post hoc analysis. As a result, this study confirmed that family with school-age children had the most negative view on public housing. In addition, family formation and family contraction showed high need for public housing. Moreover, it is necessary to actively improve educational and residential environments through developing public housing because families with school-age children considered that educational and residential environments from public housing development had significantly negative impact on their children. Since family formation and family contraction typically tend to have high interest in public housing to meet the needs of life cycle, it is necessary to pursue customized public housing policy that can actively reflect the interests of each life cycle. In addition, public housing and management policies are needed to improve public housing awareness.

ACS Style

Da-Eun Lee; Won-Seok Seo; Lee; Da- Eun; Seo; Won- Seok. Comparative Study on Perception of Public Housing by Family Life Cycle in Seoul. SH Urban Research & Insight 2017, 7, 37 -53.

AMA Style

Da-Eun Lee, Won-Seok Seo, Lee, Da- Eun, Seo, Won- Seok. Comparative Study on Perception of Public Housing by Family Life Cycle in Seoul. SH Urban Research & Insight. 2017; 7 (2):37-53.

Chicago/Turabian Style

Da-Eun Lee; Won-Seok Seo; Lee; Da- Eun; Seo; Won- Seok. 2017. "Comparative Study on Perception of Public Housing by Family Life Cycle in Seoul." SH Urban Research & Insight 7, no. 2: 37-53.

Journal article
Published: 01 June 2016 in The Korea Spatial Planning Review
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ACS Style

강수진; Won-Seok Seo. Investigating Impacts of Subway Line and Station Features on Apartment Resale Prices. The Korea Spatial Planning Review 2016, 89, 149 -162.

AMA Style

강수진, Won-Seok Seo. Investigating Impacts of Subway Line and Station Features on Apartment Resale Prices. The Korea Spatial Planning Review. 2016; 89 (null):149-162.

Chicago/Turabian Style

강수진; Won-Seok Seo. 2016. "Investigating Impacts of Subway Line and Station Features on Apartment Resale Prices." The Korea Spatial Planning Review 89, no. null: 149-162.

Journal article
Published: 01 December 2015 in The Korea Spatial Planning Review
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ACS Style

성연 김; Won-Seok Seo; Kwang-Sik Yang; 권성문. A Study on Happy-House Construction Program Policy Factors. The Korea Spatial Planning Review 2015, 87, 3 -15.

AMA Style

성연 김, Won-Seok Seo, Kwang-Sik Yang, 권성문. A Study on Happy-House Construction Program Policy Factors. The Korea Spatial Planning Review. 2015; 87 (null):3-15.

Chicago/Turabian Style

성연 김; Won-Seok Seo; Kwang-Sik Yang; 권성문. 2015. "A Study on Happy-House Construction Program Policy Factors." The Korea Spatial Planning Review 87, no. null: 3-15.

Journal article
Published: 01 September 2011 in Journal of Urban Planning and Development
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Although a large number of studies have examined the impact of housing and neighborhood characteristics on housing prices, they have not systematically considered the impact of physical conditions of the immediate neighborhood on housing prices, specifically conditions associated with physical disorder. Most likely, this failure has occurred because such data do not exist in published form. The main purpose of this study is to focus on the impact of physical disorder at the microneighborhood level on property resale values by using a hedonic-price-model approach. The results highlight the costs that neighbors may inflict on one another by not maintaining their houses and neighborhood. For the first time, the results provide specific estimates of the cost associated with individual physical-disorder attributes. The results are also indicative of the importance externalities play in neighborhood change and the need for policy intervention in preventing neighborhood decline.

ACS Style

Wonseok Seo; Burkhard Von Rabenau. Spatial Impacts of Microneighborhood Physical Disorder on Property Resale Values in Columbus, Ohio. Journal of Urban Planning and Development 2011, 137, 337 -345.

AMA Style

Wonseok Seo, Burkhard Von Rabenau. Spatial Impacts of Microneighborhood Physical Disorder on Property Resale Values in Columbus, Ohio. Journal of Urban Planning and Development. 2011; 137 (3):337-345.

Chicago/Turabian Style

Wonseok Seo; Burkhard Von Rabenau. 2011. "Spatial Impacts of Microneighborhood Physical Disorder on Property Resale Values in Columbus, Ohio." Journal of Urban Planning and Development 137, no. 3: 337-345.