Resumen de The role of territorial collective goods in Korea’s residential development
Korea had experienced rapid urbanization and population increase that resulted in a shortage of housing and ensuing poor urban living environment. While past studies have much devoted to topics that relate to government intervention in overcoming the nation’s housing shortage problem, this study examines the ways in which the Korean apartment model contributed to providing a decent living environment and outcompeting other housing types in Korea. Drawing on club theory, this study revisits market-based solutions that the Korean government devised to promote apartment-type housing and explores how they have accelerated the production and consumption of apartments and achieved an improved urban living environment. This study suggests that while the inclusion of territorial collective goods in residential development has become an effective and feasible way to enhance the overall housing environment, it has also stimulated homebuyers to prefer apartment-type housing in lieu of other housing types in Korea.
