A Comparative Housing Policy and Policy Transfer between Countries with Respect to Low-Income Housing in Korea

Abstract

Korea has experienced a remarkable economic achievement since the 1960s. However, behind this facade of growth and progress, a chronic housing shortage in the capital region, declining owner-occupation, rising housing costs, and polarization in housing conditions between the better-off and the worse-off clearly illustrate the impasse and crisis in housing that Korea now faces. In addition, the IMF crisis and the late global financial crisis shocked the Korean housing market. The Korean government has made significant policy changes to improve housing security for less-privileged groups. In order to achieve housing policy development, the Korean government has tried to employ of advanced countries. What are the benefits(merits) and dangers(demerits) of housing policy transfer between countries? This paper emphasizes that we must recognize about 'differences' rather than 'commonalities' between countries with respect to policy transfer. It also maintains that the government should play a main role as an enabler rather as a provider of 'low-cost' housing.