參與政府 土地政策의 問題點과 政策代案에 관한 硏究

참여정부의 부동산정책 문제를 분석하고 정책 대안을 제시했다.

Real estate policies can be defined as guidelines or action plans designed by central and local autonomous administrations to solve or improve various real estate problems and enhance the relationship between real estates and human beings. Namely, they are the public efforts combined to resolve or improve the various problems surrounding the real estates or the common living ground for the whole people and thereby, rationalize the relationship between real estates and human beings.

Assuming that due to the characteristics of the real estates, it would be difficult to distribute them properly through a perfectly competitive market, market failure may be a natural corollary, distorting the distribution of resources. In order to improve such market failure, the public intervention may be essential. In other words, real estate policies are more important and required than any other policies. Meanwhile, the real estate policies in Korea have undergone many changes according to the attributes of governments.

Under Park Jung-hee's regime, a series of 5-year economic plans had been designed and implemented positively, and in this course, general national land development plans had been designed for development and arrangement of the national land, and thereby, large-scale development projects would be pushed ahead with, and thus, the conglomerates and power elite group monopolizing the information of development would take advantage of their superior position to speculate in real estates.

Chun Doo-hwan's government attempted to regulate the non-business land plots purchased by corporations for speculative purposes, urging their owners to dispose them, under the 3 basic polices of price stabilization, autonomy and market opening, in an effort to stabilize the land prices in a long term. The focus of land policies in early 1980's would be oriented toward expansion of land supplies, based on the wide-spread assumption that the land problems had been caused by unbalanced supply and demand of land plots.

Roh Tae-woo's government would witness a serious chaos of the real estate markets due to rapidly rising real estate prices because of trade surplus, 'prosperity with 3 lows (low interest rate, weak Won currency and low oil price)' and increased money supply. Thus, in order to root out the real estate speculations, the government published a general real estate policy encompassing certified contact system, higher capital gain tax rates, introduction of the compositive land tax and public-announced land price system, all based on the concept of public land, and also published a 5 new town city construction plan for 2 million new houses.

Under Kim Young-sam's government, the real estate prices were stabilized at a lower level in overall terms owing to the effects of Roh Tae-woo government's strong anti-speculation measures based on the concept of public land as well as the world-wide asset deflations including burst of real estate price bubble in Japan. Hence, his government's real estate policies continued to aim at stabilization of the real estate markets.

Kim Dae-jung's government inaugurated with the challenge of overcoming the national crisis or IMF incident focused on stimulation of the recessed domestic economy and increase of the exports to gain foreign currencies, while deregulating various policies and inducing foreign capitals actively. However, as his government would prefer real estate developments initiated by private capitals rather than public organizations later, real estate speculations would recur near the end of his government only to uphold the real estate prices. As Roh Moo-hyun's Participatory Government was inaugurated, it began to focus on equilibrium and distribution for the common people.

Its policies aimed at checking the real estate speculations and home prices in Gangnam district would, however, serve to explode the housing prices centering around Gangnam district unexpectedly due to rich liquidity attributable to lower interest rate. Its reckless regulation of reconstruction would result in a more unstable balance of housing supply and demand, which in turn would lead to higher housing prices and hot real estate speculations. In order to normalize and activate the functions of the land markets, it is frequently argued that the land uses should be deregulated to expand supplies of land plots.

However, it is deemed essential to rationalize land use regulations and adjust development profits and losses in a market-friendly way in order to promote smooth supplies of urban land plots and normalize the functions of the land markets, while preventing the unearned land-related incomes from being privatized. When the land uses are regulated reasonably and the development profits are returned, speculative land demands would be checked for smooth supply of land plots and chaotic developments would be prevented. Prevention of chaotic development and return of development profits or the core land policy goals since our industrialization still remain unsolved.

Land speculations are induced due to privatization of the development profits, while the chaotic development taking advantage of the loopholes of land use regulation and yearning for maximization of the development profits causes the land prices to rise. Stabilization of the land markets through return of the development profits and well-planned national land management through prevention of chaotic development may well have been two top challenges for our land policies. In this context, it is deemed necessary to enhance the effects of land policies through their localization and interlink them for their synergic effects.

The purpose of this study was to review the hither-to real estate policies and address the problems of the Participatory Government's land policies and thereby, explore some market-friendly policy alternatives. For this purpose, the researcher reviewed the real estate policies theoretically and thereupon, examine