Key Money Research Articles

Juridical Review Regarding Transfer of The Right to Occupate Service House of Police

Nowadays, as time goes by the growing needs of houses is very important for a person. Owning a house is the most basic need and also a rights for everyone. In police sector,efforts to improve the professionalism of public service there are certainly several factors related to the fulfillment of the supported are fundamental rights (basic need) life members such as rights can inhabit/owning the house adequate either through the procurement service by service and home owneship in private. The home office itself has a meaning that is the home state-owned and or by the police and provided for the personnel of the national police. The placement of the house office’s own in national police (polri)sector have been provided for The Head of National police Decission N0.17/VIII/2001 concerning the implementation of the directive by the publishing house placement service of the SIP. The core of the provide of the provided home service itself is intended to exist national police (polri) personnel still active so that it cant be secured and can be better doing their job in terms of promptness and timely.but in fact, the occupant of the home office is national police personnel has been in active more than personnel still active with sip status expired or have not lived by weakness in the control of the designation of the residents of this service which became the forerunner of the move was the rights to occupy or better known by the name of “sale and purchase” or “key money” is certainly not known by the service. This condition doesn’t satisfy the main purpose of the procurement service itself in house Police Departement.

Chonse, a real property lease transaction unique to South Korea

This article is a tentative analysis of Korean real property lease transaction system, chonse, a lease with a large sum of the key money deposit and without monthly rent payments. Chonse is the dominant form of lease arrangement used by most middle-class families in Korea without ownership of real property for both principal residences and commercial business places. The author analyzes this unique institution of real estate lease exclusive to South Korea and describes main features and details of it as well as related legal systems. Chonse also has the character of a lending system for the real property owners, where the landlord has the same position of borrowing the money from the tenant and the lending term is the same as the lease period. The tenant as a creditor has the leased property at his/her possession for the term and the tenant has the legal interest not only of a usufructuary right but also of a security right of pledge or collateral. After a brief review of the legal characteristics and roles of chonse in the modern period of development of South Korea, the author critiques the changing role of the chonse system in the modern South Korean society. Continuous economic development, reform of the financial system, globalized lifestyle and home living, and most of all its shrinking and aging population as well as low interest rates and the flourishing of long-term mortgages are all circumstances that need to be taken into account in assessing the implications of the changes taking place with regard to chonse.

The Habit of Savings among College students

It is not easy to come by money however, money can easily ‘leave' one's possession if not properly managed. Money management skills are therefore important skills for life especially in the youthful days as wealth creation is not entirely about how hardworking an individual is but factors such as his/her ability to understand how money works and apply its management principles are of essence. Savings play an integral aspect of an individual’s financial management skills since it is the bedrock of personal financial success. Savings is not just about setting money aside for future use but also has to do with keeping anything of economic value. Savings are securing assurance today for tomorrow's uncertainties. This paper sought to examine the habit of savings among the college students. The result indicated that the majority of the college students do not save as a result of certain contributory factors such as meager salaries and economic hardships. Also, the majority of the college students do not have definite financial management plans such as savings as a result of inadequate financial literacy. The study concluded on the need for public education on key money management skills such as savings which is a recipe for wealth creation.

Financial Literacy, Financial behaviour and Economic System

Financial literacy measures how much one comprehends key money related financial concepts, through appropriate short-term decision making, so financial literacy is the essential information and that individuals need so as to make due in modern society. Financial literacy can be affected by environmental issues, such as regional differences and economic systems. The relationship between financial literacy and financial behaviour has been considered in a number of other studies, financial literacy is an important determinant of financial behaviour in developing countries, financial literacy is also associated with increased equity ownership, the use of low-cost mortgages, and retirement planning behaviour.

Inefficiency of Korean Apartment and Jeonse Market : Focused on Jeonse-to-price Ratio

According to a well-known arbitrage equation between house price and Jeonse (key money lump-sum deposit on a rental) price in Korea, when a house price is expected to rise or interest rate falls, the Jeonse-to-price ratio falls. However, in the actual housing market, when prices rise or interest rate falls, the ratio rises for a while. This study examined this process with TARCH and Markov switching analysis. The analysis shows that the growth and disappearance of expected excess returns could well explain the process of the ratio. In particular, the effect of changes in the expected apartment price appreciation rate and the mortgage rates on the ratio might differ in the low volatility and high volatility regimes of expected excess returns. Based on these results, if the housing market stabilizes, the expected excess returns accumulated in the apartment Jeonse market will gradually decrease. In addition, if the current ultra-low interest rates are resolved, the process will be strengthened. It would enhance the efficiency of the housing market, and the Jeonse market would look for relative stability.

상가 권리금 확보와 손실보상에 관한 고찰

상가 권리금 확보와 손실보상에 관한 고찰

Measuring Rent Affordability and its Regional Gap in Korea

우리나라 임대차시장은 외국과 달리 월세 및 전세, 반전세제도등 다양한 임차제도가 존재하기 때문에 해외에서 일반적으로 사용되는 임차시장에 대한 측정지표들을 그대로 차용하기 어렵다. 본 연구에서는 지역별로 가구의 자산과 소득을 종합적으로 고려한 임차능력 평가방식을 개발하고, 이를 이용하여 국내 임대차시장에서의 주거부담을 시각화할 수 있는 분포도와 지수 개발을 시도하였다. 새로운 임차부담 프레임을 활용하여 분석한 결과, 지역별 및 가구의 임차능력별로 임차부담 정도와 분포가 다른 것을 확인할 수 있었다. 본 연구의 의의는 우리나라 임대차시장의 특성과 가구의 소득 및 자산 구조를 반영하여 지역별 임차부담의 격차를 효과적으로 측정하는 수단을 개발하였다는 데 있다.We design a new frame on measuring rent affordability considering the level of income and wealth of a household by region since it is problematic to directly adopt several methods of measuring housing and rent affordability devised in aboard due to complicatedly segmented rent system such as regular monthly rent, joense (key money deposit), and monthly rent with lump-sum deposit etc. in Korea. By applying this novel approach on rent market, it enables us to visualize affordability and to quantify its degree by so-called rent affordability distribution curve and score respectively. We find that rent affordability is distinctly differentiated by region, income and wealth of a household but rent affordability is widely increasing in all regions over the sample period 2012-16.

Protection of Commercial Tenants and Shop Key Money

Protection of Commercial Tenants and Shop Key Money

Problems and Improvement in System for Protection of Shop Key Money

Problems and Improvement in System for Protection of Shop Key Money

Research on money laundering risk assessment of customers – based on the empirical research of China

Purpose To implement a risk-based regulatory approach, this paper aims to make an assessment on customers' money laundering risk and conducts some applications. Design/methodology/approach During the transition of a regulatory approach from “rule-based” to “risk-based”, this paper considers that the area of a customer, types of business and the industries to which the customer belongs are the main indicators to judge money laundering risk of a customer. Based on the statistical analysis of 221 typical money laundering cases, first-class index weights are given by using the entropy weight method and then by combining with the membership function, this paper determines a customer’s money laundering risk levels. On the basis of the entropy weight method, this paper uses the C5.0 algorithm to construct a decision tree model and then carries out application research on customer money laundering risk assessment to verify the effectiveness of the entropy weight method and the decision tree model. Findings This empirical research found the weights of three key money laundering indicators: customer areas, business types and corresponding industries. Originality/value Asserting that current money laundering risk assessments of customers are marginal at best, this paper contends from the perspective of practice, and applies the entropy weight method and the decision tree model for money laundering risk assessment of customers.

Decline of rental housing in India: the case of Mumbai

The amount of rental housing in India has declined significantly over the years for various reasons, including the nature of the rent control laws. This paper assesses the impact of rent control for Mumbai, where it has created a shortfall in formal, affordable rental housing and contributed to distortions in the land market. The paper describes how “first-generation” rent control in Mumbai has led to deterioration of the existing rental housing stock, virtually halted the construction of new housing for rental in the city, and given rise to informal practices such as pagdi or key money. It also analyses the spatial concentration and composition of rent-controlled tenements in the city. It proposes reforms that would allow a gradual move towards rationalized rent controls, arguing that such second-generation controls will help incentivize investments in the rental sector and reduce the demand in the housing market at large, with implications for prices and affordable housing in particular.

상가권리금 법제화의 문제점과 개선방안 연구

상가권리금 법제화의 문제점과 개선방안 연구

The New Stage of Globalization

By the end of 1990, foreign direct investment—that is, investment in manufacturing, real estate, raw materials, extraction, financial institutions, etc., made by capitalists of all lands outside their national borders—reached over $1.5 trillion…. [W]hat is significant about this number is not only its size but the unprecedented speed with which it has grown in the last two decades: the amount directly invested in foreign lands nearly tripled in the 1980s alone…. This upsurge and diversification of globalization has been introducing new economic and political features in the countries of both the periphery and the core. In the periphery, foreign capital has penetrated more widely and deeply than ever before. In the core, this change of direction has helped produce in the world's key money markets an extraordinary spiraling of credit creation, international flows of money capital, and speculation.<p class="mrlink"><p class="mrpurchaselink"><a href="http://monthlyreview.org/index/volume-67-number-3" title="Vol. 67, No. 3: July 2015" target="_self">Click here to purchase a PDF version of this article at the <em>Monthly Review</em> website.</a></p>

도시재생사업에 의한 상권의 재편과 향후 과제 : 청계천 복원 사업에 의한 영업활동 변화와 정착상인과 이전상인들의 만족도 평가

The purpose of this study is to evaluate the impact on commercial urban regeneration projects through the satisfaction of the dealers changes and the reorganization of business activities on a commercial restoration projects. The study was conducted interviews with merchants migrated from Cheonggyecheon stream and the stream traders, merchants stream 358 people, 104 people were enrolled in migrating merchants. The frequency analysis, cross analysis and t-test were analyzed. As a Analysis, First, for merchant's that did not migrate, there were no significant functional changes. And because of the decrease of transactions, there was a decrease in key money and commercial network have been reduced. Second, the parking lot was dissatisfied traders did not migrate, migrate merchants were satisfied. Third, two weeks all traders and merchants did not migrate were the number of customers decreased. Fourth, the operating profit did not migrate traders decreased 33.1%, migrant traders responded that 80.3% decrease. Finally, migrant traders did not respect the Cheonggyecheon restoration project (urban regeneration projects) were 62.3% were dissatisfied with the migrant merchants were dissatisfied is 84.9%.

상가부동산 권리금 결정요인 선호도에 관한 연구 (대학로·동숭동 상권 중심으로)

본 연구는 상가부동산의 권리금 결정요인을 입지, 인테리어 및 시설, 통행량, 매출액, 밀집도로 선정하여 대학로 및 동숭로 상가 임차인 대상으로 설문 분석한 결과 입지가 가장 큰 영향을 미치며, 다음은 매출액, 통행량, 인테리어 및 시설이고 밀집도는 영향이 미미하였다. 또한 성별, 연령, 학력, 업태, 소득 차이를 분석한 결과 외부적인 요소와 내부적인 요소가 복합적으로 권리금에 영향을 주는 것으로 분석하였다. 이 결과를 신규 창업자 및 점포이전 임차인들에게 제공하여 사업 성공에 기여하고자 한다. The present study, the determinants of Lease-hold of the commercial real estate needs, interior and facilities, transit Lumpur, Daehangno and Dongsoong analysis of a questionnaire survey of mall tenant sales, density results affects the biggest presence, sales, traffic, density, the interior and facilities, and the impact was negligible. Also analyzed as a result of analysis of gender, age, education, Category, income differences combination of external factors and internal factors impact on key money that This result provides a new founder and stores the previous tenants want to contribute to the success of your business.

Responses to the Financial Crisis, Treasury Debt, and the Impact on Short-Term Money Markets

Several programs have been introduced by U.S. fiscal and monetary authorities in response to the financial crisis. We examine the responses involving Treasury debt - the Term Securities Lending Facility (TSLF), the Supplemental Financing Program, increases in Treasury issuance, and open market operations - and their impacts on the overnight Treasury general collateral repo rate, a key money market rate. Our contribution is to consider each policy in light of the others, both to help guide policy responses to future crises and to emphasize policy interactions. Only the TSLF was designed to directly address stresses in short-term money markets by temporarily changing the supply of Treasury collateral in the marketplace. We find that the TSLF is uniquely effective relative to other policies and that, while changes in Treasury collateral do affect repo rates, the impacts are not equivalent across sources of Treasury collateral.

The Value of the Rent Control Option

In this paper, we combine direct arbitrage arguments and an option-pricing approach to develop a method of pricing the option for rent control. For a lump-sum payment of “key money,” a tenant acquires the right to rent a real estate unit for an exogenously determined controlled rent, as opposed to paying the free-market rent. The tenant may continue exercising this right as long as he or she lives. Alternatively, the tenant may sell the right to occupy the controlled rent unit and receive a fraction of the key money paid by the subsequent tenant. We value the equilibrium key money, in a representative agent’s partial equilibrium, while endogenously determining the expected tenure duration in a controlled rent unit. We propose a procedure for valuing rent control options different from the representative agent’s. Our analysis shows that under real-world levels of “conditional life expectancy,” the level of the fraction of the key money retained by a departing tenant has an insignificant effect on the expected tenure duration in a controlled rent unit and on the level of key money.

Rent Control with Rent Discrimination Revisited

George A. Kondor (1995) has recently developed a model that combines the imposition of third-degree price discrimination and rent control on a competitive housing market and found that such a regulatory regime might increase landlords' profits and cause the supply of rental housing to increase. As Kondor has pointed out, conventional analysis concludes that rent control leads to reductions in the quantity of housing and a redistribution of wealth from landlords to housing consumers. Most economists agree that old-fashioned rent control that freezes rents in nominal terms redistributes wealth, deters new construction, causes abandonment of housing units, reduces maintenance and mobility, creates mismatches between tenants and housing units, causes rental units to be converted to owner-occupied housing, and stimulates black markets and other methods (such as key money) for getting around the controls. However, one prominent urban economist (Arnott 1995) has a mildly dissenting view. Arnott believes that a well-designed version of newer forms of rent control (with exemptions for new construction, rent adjustments for inflation and verifiable increases in expenses, and regulations regarding maintenance) can be beneficial. For example, in a housing market that can be characterized by heterogeneous housing units, asymmetric information, and search costs, a moderate rent-control program can restrict the ability of landlords to use their market power. Problems caused by decreases in real rents do not arise with newer forms of rent control. Arnott further points out that, under such a system, an increase in the demand for housing leads to a greater increase in the quantity of housing supplied than with an uncontrolled market. With an uncontrolled market, an increase

THE MONEY LAUNDERING REGULATIONS 1993: THEIR IMPLEMENTATION AND IMPLICATIONS FOR SECURITIES HOUSES

The international banking and financial system is finding itself in the front line of the war being waged internationally against the money launderers. Traditional concepts of banking secrecy are being undermined as governments struggle to preserve the integrity of the banking system. The war is on a vast scale. The Financial Action Task Force (created in 1989 by the seven major industrial nations and the President of the European Commission) estimated that the amount of money being laundered through the financial system was US$85bn per year. The extent of the problem was recognised in the International Narcotics Control Strategy Report for 1993 which found that eight of the world's major money laundering states are located in Europe. Europe has responded to the growing crisis in the financial sector with the Money Laundering Directive which was due to be fully implemented across the Community by 1st January, 1993. The Directive which applies to credit institutions and financial institutions, including community based branches of non‐Community institutions, reflects a number of key international initiatives and attempts to harmonise the anti‐money laundering legislation of the member states, though with varied success. This paper reviews developments within the UK since the Drug Trafficking Offences Act 1986 which marked the beginning of the Governments campaign to deprive criminals of the fruits of their crime and which has culminated in parts I to IV of the Criminal Justice Act 1993 (CJA 1993), which received Royal Assent on 27th July, 1993. The key money laundering provisions of the CJA 1993 have been introduced piecemeal, but have all been in force since 1st April, 1994. The aim of this paper is to assess the significance and impact of the CJA 1993 and the Money Laundering Regulations upon securities houses' business and to examine related practical and managerial problems encountered as a result of the new legislation. It also questions in particular the role and responsibility of the compliance officer in relation to prevention.

Can New York and Los Angeles learn from Kumasi and Bangalore? Costs and benefits of rent controls in developing countries

Abstract This article presents comparative static estimates of the costs and benefits of rent controls for four developing‐country cities: Cairo, Egypt; Kumasi, Ghana; Bangalore, India; and Rio de Janeiro, Brazil. The results are compared with those from four U.S. cities: New York; Los Angeles; Santa Monica; and Washington, DC. Rent control regimes and their effects vary widely across cities and countries. Whatever the “average” cost or benefit of controls, all markets have large variances about the average, and the variation is rarely strongly related to income or other household characteristics in a way most people would find desirable. In the countries for which there was direct evidence, landlords were richer than tenants on average, but not remarkably so, and there was considerable overlap in the two income distributions. In Cairo, where there was direct evidence, key money made up much of the difference between controlled rents and market rents. In very strict regimes, substantial reductions in rent...