Abstract
The popularization of real estate speculation in modern Korean history began in the mid-1970s with the formation of the middle class. The novels of Park Wan-seo, Yun Heung-kil, and Park Young-han in the 1980s that represented lifestyles of the middle class, showed that the the middle class started speculating on real estate for the purpose of increasing wealth itself beyond getting a house ownership. As a result, the entire Korean society was reorganized into a densely hierarchical structure, and ‘real estate value’ is at the core of the hierarchy of social space in Korean society. People bought an apartment and entered the ranks of the middle class, regarding owning a house as a social task. e desire of the middle class in the 1980s when they started to own and speculate on real estate, became the first step toward spatially reorganizing the current Korean society as a whole in terms of real estate value.
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