Space and Environment
- P-ISSN1225-6706
- E-ISSN2733-4295
- KCI
ISSN : 1225-6706
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Vol.32 No.3
Abstract
This paper analyzes the extent and process of housing financialization in South Korea to explore the nature of Korean residential capitalism. A strand of research on residential capitalism has investigated how housing stratification, led by housing financialization, has arisen as a new driver of inequalities in capitalism. In order to apply the discussion on residential capitalism to Korean society, this research conducted two analyses. First, through time-series analysis, we identified the financial market’s dominance over the housing market, which we suggest as the significant feature of housing financialization. Grounded on Vector Auto-Regression model and variance decomposition analyses, we demonstrated that the explanatory power of interest rate is higher than those of housing market-related variables in the low-interest era after the end of 2008. In doing so, we found that housing financialization has proceeded in South Korea. Secondly, considering the relatively suppressed housing finance system of South Korea, it is necessary to examine the unique mechanism of Korean housing financialization. The global trend of housing financialization features the increase of homeownership by expanding mortgages, which we call ‘the financialization of housing residence’. In contrast, housing financialization has continued in South Korea, even after the strengthened mortgage regulation in recent days. This study reveals that the rapid expansion of loans to ‘Cheonsei’, the unique tenure system in South Korea, has brought about and continued ‘the financialization of housing investment’ even in restrictive mortgage conditions. In sum, both universal and distinctive characteristics of housing financialization, the financialization of housing residence and housing investment, have appeared in Korean society. We captured the different mechanisms of Korean housing financialization from international tendencies, as well as the universal nature of housing financialization in South Korea. The findings have significance as they would provoke the discussion on Korean residential capitalism.
Abstract
This paper aims to conceptualize ‘residential environment inclusivity’ from the perspective of urban older people as a vision for coping with their multidimensional exclusions, as well as to explore the specific experiences and meanings of older people in Seoul. We propose to construct the concept in five dimensions: participation, interdependence, security, openness, and accessibility, based on the literature related to urban inclusivity, older people’s exclusion, and age-friendly cities. A qualitative content analysis was conducted using the individual interview data of 10 older people in Seoul to clarify the concept in the context of their actual residential environment. The results show that the inclusive environment helps them to overcome exclusion and to achieve identity formation, relationship restoration, and life realm expansion. In terms of social inclusion, the participants overcome feelings of isolation and loss through a variety of activities around their homes and interdependence with neighbors, which increases their sense of accomplishment and solidarity. In terms of spatial inclusion, they expand opportunities for positive aging by living in a secure environment, freely experiencing open spaces, and easily accessing neighborhood facilities, allowing them to fulfill their identities, autonomy, and sense of connection. These findings suggest a need to enable older people to sustain an independent and socially connected life as community members by reinforcing the multi-dimensional inclusivity of their residential environment.
Abstract
Looking into the specific context of Chosunjok migrants living in Jjokbangchon(residential area with households that cannot reach minimum housing), Seoul, this study points out that mobility and sedentariness are interpenetrated by each other. In-depth interviews and participant observation are utilized to include the voice of migrants who have not gotten attention of discourses around Jjokbangchon. Research participants are living in Jjokbangchon while internalizing nomadism at the same time. Their life in Jjokbangchon is interlinked with their history of migration and continuing possibilities to move again. However, their settling in Jjokbangchon is more than meaningless temporary staying because they actively engage in the networks of the place experiencing continual deterritorialization-reterritorialization. Capturing the practice of ‘moving-dwelling’, this study goes beyond the sedentarist/nomadic binary on which many previous studies of migrants are grounded, being wary of simple and fixed meaning-making of each life form-mobility and sedentariness. New spatial imagination which ruptures existing spatial structure solidifying a poverty ‘trap’ by kicking out residents or locking people in the most fragile of homes can be found throughout the research.
Abstract
This paper aims to explore how the spaces and politics of verticality appear through national security discourses, looking into two public debates in Korea, of which one is on Google and the other is on THAAD. To achieve this, first, the paper understands the theoretical implications of ‘the politics of urban verticality’ and ‘volume’ space, discussed mainly by Stephen Graham and Stuart Elden. Then it examines two empirical cases. Concerned with Google, it analyzes the politics of vertical view, especially ‘the politics of urban legibility and camouflage’ underlined by Graham, which appears in online satellite photos provided by KakaoMap, Google Maps and Google Earth services. And, concerned with THAAD system, it makes sense of the geopolitics of volume space through the vertical space of THAAD system, and pays attention to the interconstructive relationship of horizontal and vertical spaces. The paper suggests that we need to perceive not only horizontal space but also vertical space, which has been neglected in recent geopolitical writings, in order to understand how geopolitical spaces are represented and practiced.