Abstract
Korea is a country that once full of doubts. As time goes by, every sector from Korea are turns out to be huge achievements of the Korean people. Korean pop culture for instance, becomes a crucial driver for Korean economy. Not only Korean pop culture, recently property investor from Korea also becomes a big player in the US, and moreover in the global stage. New study also tells that Korea as global property industry player could exceed China as China’s economy slowing down. Therefore, question how can South Korea's property industry sectors thrive overseas, such as in the U.S.? Arises. This paper would explain the factors behind South Korean property industry performance in US, including push and pull factors through a scope of global capital movement paradigm. Meaningful government supports, big possibilities, and a good investment climate for South Korean property industry plus the right global demands could be some factors behind the rising of South Korean property industry, especially in the US
Highlights
Since the Korean War armistice agreement signed in 1953, South Korea is steady moving forward
South Korea has a blended economic system that involves a range of private freedoms, accompanied with centralized economic policy and state intervention, notably during Park Cheong-Hee regime that lied down South Korean modern economy corner stone
Korean property industry players still eager to find the best spot around the globe to generate growth even though global economy shows slowdown despite Korean local property market remains burdened by mortgage bubble
Summary
Since the Korean War armistice agreement signed in 1953, South Korea is steady moving forward. Spiro (2020) said “Korean commercial property investors are looking further afield in Europe, their enthusiasm might wane as yields contract across the continent” It means, Korean property industry players still eager to find the best spot around the globe to generate growth even though global economy shows slowdown despite Korean local property market remains burdened by mortgage bubble. Sidders et al (2019) said “South Korea property acquisitions top $12 billion in 2019, Korean investors splurged almost $6.8 billion on international commercial real estate in the year through August, according to CBRE Group Inc., more than four times the amount spent by Chinese firms” It means South Korean property industry keep trying to fly high despite domestic troubles ahead. A lot of explanations and opinions regarding this statement yet this paper would like to give better overview from global capital movements‟ perspectives with push and pull factors counted in the arguments deeper later in the analysis chapter of this paper
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