Do Single-Sex School Advantages Exist? Evidence from a School Choice Lottery Program in Seoul*

Total Page:16

File Type:pdf, Size:1020Kb

Do Single-Sex School Advantages Exist? Evidence from a School Choice Lottery Program in Seoul* Do Single-Sex School Advantages Exist? Evidence from a School Choice Lottery Program in Seoul* Jungmin Lee Yoonsoo Park Seoul National University & IZA Korea Development Institute May 2017 Abstract We investigate the hypothesis of single-sex school advantages. Do students perform academically better in schools segregated by sex? Using Korean longitudinal data tracking individual students for 6 years from middle to high schools, we identify the types of students who prefer single-sex schools and their middle-school, individual, and household characteristics. Utilizing information on high schools they applied for in the school choice lottery system, we estimate the effects of single-sex school attendance on high-school test scores. We find little single-sex school advantages, after controlling for the gender types of the schools for which students applied. That is, the observed single-sex school advantages are mainly driven by students’ self- selection. Then, the prevailing preference for single-sex schools among parents is puzzling, for which we attempt to find some possible explanations. Keywords: single-sex schooling, school choice lotteries, academic performance, preferences for single-sex schools. JEL codes: I21, I28. * We would like to thank seminar participants at Yonsei University, Korea Academic Society of Industrial Organization, Korean Association of Applied Economics, and SNU Research in Economics Workshop. Lee’s work was supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korean (NRF-2016S1A5A01025292). 1 I. Introduction It is well known that students are affected by their peers in many regards. There has been an increasing amount of empirical evidence that many student outcomes, which are of importance to policy makers as well as parents, such as students’ academic performance and behavioral problems, are influenced by surrounding peers’ behaviors, their academic performance, individual characteristics and family background. Among others, whether the gender composition of school peers matters has been studied intensively, for an obvious reason that single-sex and coeducational schools coexist and the gender type of schools is a policy variable. In particular, in the U.S., the question—whether students in single-sex schools outperform than those in coeducational schools—has received much attention in academia around the recent policy change, which relaxed the Title IX’s prohibition of sex-based discrimination and, albeit to a limited extent, allowed for single-sex education. The rationale behind this notable change is the belief that single- sex education is beneficial to students, especially in terms of academic performance. There might be various mechanisms for the “single-sex education advantage”; students of different genders have different learning styles, teachers may teach more effectively when their students are of a single gender, students might be less disruptive in single-sex classes, and so on. It is noteworthy in the literature on the single-sex school advantage that many recent studies have looked at the case of Korea (Park, Behrman, and Choi 2012; 2013; Choi, Moon, and Ridder 2014; Ku and Kwak 2013; Sohn 2016; Park 2017). The reason is not only that education is seriously taken by parents and students in Korea, but also that the Korean education institution provides a unique experimental setting for identifying the causal effect of single-sex school attendance. In Korea, under the so-called equalization policy, schools in metropolitan areas are equalized in terms of crucial school inputs including budgets, curriculum, and teacher quality, while students are randomly assigned to schools within school districts. Furthermore, students’ school transfers are not allowed within districts. Since some schools are single-sex ones and others are coeducational within districts, if students are indeed randomly assigned to schools within districts, then it is possible to estimate the causal effect of single-sex school attendance by a simple regression model with school-district fixed effects.1 In fact, all the above-mentioned studies of the Korean case relied upon the within-district random assignment for causal identification. While there are some subtle 1 There are a few papers which exploited within-district random assignment under the equalization policy in Korea to investigate other topics than single-sex school advantages. Kang (2007) estimated academic peer effects. Hahn, Wang, and Yang (2013) examined the effects of school autonomy and accountability on student performance. Both studies rely on random assignment of students to schools for causal identification. A bit differently, Kim, Lee, and Lee (2008) analyzed the effects of sorting and mixing on high-school students’ test scores by using regional variation in the adoption of the equalization policy. 1 differences among those studies, all of them found some positive evidence for single-sex school advantages. However, some concerns have been raised over the validity of the within-district random assignment assumption and the results that are based on the assumption. Lee and Kang (2015) argue that the within-district random assignment policy was rapidly eroded since the 1990s and hence a causal inference based on the within-district random assignment rule may not be valid for the data collected after the period. Han and Ryu (2016) studied high school assignment in Seoul during the early 2000s and concluded that it is essentially a distance-based rule rather than the within-district random assignment rule, although the detailed assignment rule is kept confidential. Kim and Kim (2015) argued more directly that the within-district random assignment rule in Seoul was performed only within 30-minutes commutable areas using public transportation and thus the positive single-sex schooling effect reported in the literature may be spurious. 2 Sohn (2016) found a positive within-district correlation between single-sex school attendance and academic achievement in Seoul, but when controlling for residential location of students more narrowly than school districts, the observed single-sex school premium became negligible. He interpreted these results as suggesting that there is endogenous sorting of students. To the extent that the validity of the within-district random assignment is limited, the substantial single-sex school effects reported in the previous studies may be due to spurious correlation between single- sex school attendance and unobserved student characteristics. In this paper, we attempt to re-examine the causal effect of single-sex school attendance on academic performance by explicitly controlling for potential unobserved heterogeneity between students who prefer to attend single-sex schools and those who prefer to attend coeducational schools. Specifically, we exploit a school choice lottery program – the High School Choice Program (hereafter, the Seoul lottery system) - introduced in Seoul, the capital of Korea, in 2010. An important feature of the Seoul lottery system is that it matches students with schools based on school choices of students, similarly to the Boston mechanism.3 Specifically, each student lists four schools they want to attend in a single application form, and the Seoul Metropolitan Office of Education assigns students to schools based on their choices. This feature of the lottery system allows us to observe students’ revealed preferences for school characteristics and hence estimate the single-sex school premium by explicitly controlling for the gender types of applied schools as covariates.4 2 There are 11 school districts in Seoul. Each school district typically consists of 2-3 administrative districts and 500,000-1,200,000 residents. 3 There have been a number of studies that have theoretically examined the mechanism since the seminal paper by Abdulkadiroğulu and Sönmez (2003). 4 Our empirical strategy is similar to the standard approach in lottery-based studies of school choice in the literature. To name only a few, Rouse (1998), Hoxby and Rockoff (2005), Cullen, Jacob, and Levitt (2006), Hastings, Kane, and Staiger (2008), Hoxby and Murarka (2009), Abdulkadiroŭlu et al. (2011), Deming (2011), Hastings, Neilson, and Zimmerman (2012), and Deming, Hastings, Kane, and Staiger (2014). 2 We apply this empirical strategy to longitudinal data that track students over six years from their 7th grade (first year in middle school) to 12th grade (third year in high school). The longitudinal feature of the data allows us to test our identification assumption by measuring correlations between single-sex school assignment and a variety of predetermined characteristics including middle-school test scores, which could not be attempted in the previous studies where the information on predetermined academic outcomes were unavailable in cross-sectional data. To summarize our results, we find that the simple OLS estimates without controlling for the gender types of applied schools yield substantial single-sex schooling advantages, even if we control for a rich set of student characteristics as well as school-district fixed effects, the latter being the key control in the previous studies. However, when we control for unobserved heterogeneity across students by controlling for the gender types of their applied schools, the estimated impact of single- sex school attendance become negligible. These results suggest that the substantial single-sex school premiums reported in the previous studies
Recommended publications
  • Rubber Flooring Sales Record [Korea] 2013-2009
    1/16 Rubber Flooring Sales Record [Korea] 2013-2009 ◐ Part of Public Facilities (more than 180 in total) 2013.12. updated No. Application Year/ Month Location Project No. Application Year/ Month Location Project 1 Public 2013.08 Incheon Haksan Culture Foundation 32 Airport 2011.06 Gyeonggi Gimpo Airport International line 2 facilities 2012.02 Seosan Sweage Treatment Plant 33 facilities 2009.11 Seoul Gimpo Airport 3 2011.12 Seoul Lifelong Learning Center 34 2008.10 Incheon Incheon International Airport 4 2011.12 Chungnam Chungnam Sweage Treatment Plant 35 Government 2013.10 Seoul Yeongdeungpo Post Office 5 2011.08 Gyeonggi Gyeonggi Workforce Development Center 36 office 2013.07 Ansan Ansan Credit Guarantee Funds 6 2010.12 Seoul Eunpyeong Child Development Center 37 2013.07 Daejeon National Fusion Research Institute 7 2010.12 Chonnam Naro Space Center 38 2013.07 Cheongju Cheongju Cultural Center 8 2009.12 Gyeongbuk Uljin Sweage Treatment Plant 39 2013.06 Daejeon Credit Guarantee Funds 9 2009.11 Chungbuk Yeongdong Waste Disposal 40 2013.06 Bucheon Bucheon City Hall 10 2009.11 kangwon Chuncheon Women's Center 41 2013.06 Busan National Oceanographic Research Institute 11 2009.08 Gyeonggi Munsan Filtration Plant 42 2013.05 Chilgok Chilgok Counties Center 12 Cultural 2013.08 Ulsan Hyundai Motor Co., Cultural Center 43 2013.01 Seoul Gangseo Office of Education 13 facilities 2013.07 Gwacheon Gwacheon National Science Museum 44 2013.01 Daegu Daegu Suseong-gu(ward) Office 14 2012.11 Daegu Student Cultural Center 45 2012.12 Jeungpyeong Jeungpyeong
    [Show full text]
  • USAG-Yongsan
    WELCOME TO KOREA: Special Edition to the Morning Calm Navigation Tips for Newcomers Korea-wide Road Map P20 Korean Traffi c Signs P29 Incheon Airport Guide P36 August 14, 2009 • Volume 7, Issue 43 Published for those serving in the Republic of Korea http://imcom.korea.army.mil The New KOREA — Welcome to Korea Photo by Ed Johnson The land of the Morning Calm awaits you GARRISONS OVERVIEW MAPS & GUIDES USAG-Red Cloud P08 IMCOM Overview P02 Learn Korean P35 Radio and TV P12 USAG-Casey P10 Education P04 P35 Map of Korea P20 USAG-Yongsan P14 Housing P06 Korean War History P24 USAG-Humphreys P16 In-processing P31 Medical Demilitarized Zone P27 USAG-Daegu P22 FMWR P33 Traffi c Signs P29 Religious Support P39 Care Facilities Airport Guide P36 PAGE 2 • WELCOME EDITION http://imcom.korea.army.mil WELCOME TO KOREA The Morning Calm Published by Installation Management Welcome to Korea: Command - Korea Commander/Publisher: Brig. Gen. John Uberti Public Affairs Offi cer/Editor: Slade Walters Senior Editor: Dave Palmer Th e Army’s ‘Assignment of Choice’ I take great pleasure in welcoming you to assure you that the best is yet to come. USAG-RED CLOUD Commander: Col. Larry A. Jackson the Republic of Korea. Whether this is your fi rst Recently, we gathered community members Public Affairs Offi cer: Margaret Banish-Donaldson time on the peninsula or a return assignment, and senior leaders together to sign the Army CI Offi cer: James F. Cunningham you can look forward to a rewarding tour of duty Family Covenant. That promise is our guarantee USAG-YONGSAN in the “Land of the Morning Calm.” to provide a quality of life commensurate with Commander: Col.
    [Show full text]
  • Informational Materials
    Received by NSD/FARA Registration Unit 02/11/2019 11:47:32 AM Nadine Slocum From: Nadine Slocum Sent: Thursday, February 7, 2019 9:51 AM To: Lou, Theresa Cc: Hendrixson-White, Jennifer; Vinoda Basnayake Subject: RE: Following up re: Korean delegation Attactiments: 7. CV_Kim Kwan Young.pd/; 15.CV"Kim Jong Dae.pdf; 14. CV_Park Joo Hyun.pdf; 13. CV_Baek Seung Joo.pdf; 12. CV_Chin Young.pdf; 11. CV_Choung Byoung Gug.pdf; 10. CV _Kim Jae Kyung.pdf; 9. CV _Lee Soo Hyuck.pdf, 8. CV _Kang Seok-ho.pdf; 6. CV _Na Kyung Won.pdf; 5. CV_Hong Young Pyo.pdf; 4. CV_Lee Jeong Mi.pdf; 3. CV_Chung Dong Young.pd/; 2. CV_Lee Hae-Chan.pd/; 1. CV_Korean National Assembly Delegation Feb.pd/; Bio - Moon Hee-Sang.pd/ Hi Theresa, Attached are the requested bias. Best, Nadine Slocum 202.689.2875 -----Original Message----­ From: Vinoda Basnayake · Sent: Wednesday, February 6, 2019 6:15 PM To: Lou, Theresa <[email protected]> Cc: Hendrixson-White, Jennifer <Jennifer.hendrixson°[email protected]>; Nadine Slocum <[email protected]> Subject: Re: Following up re: Korean delegation I Copied Nadine from our office who can help with this. Thanks so much for your patience. Sent from my iPhone > On Feb 6, 2019, at 6:02 PM, Lou, Theresa <[email protected]> wrote: > > Hello Vinoda, > > Thank you for this. Are there short bias for the members of the delegation, particularly the speaker? Those would be much easier for us to incorporate. Please let me know if there are questions. > > Best, > Theresa > > Sent from my iPhone > » On Feb 6, 2019, at 4:09 PM, Vinoda Basnayake <[email protected]> wrote: » »Theresa/Jennifer, Received by NSD/FARA Registration Unit 02/11/2019 l l:47:32 AM Received by NSD/FARA Registration Unit 02/11/2019 11 :47:32 AM » The bios are attached, so sorry for the delay, there was a time difference issue.
    [Show full text]
  • Winners Essay
    www.SejongSociety.org 2006 & 2007 Sejong Writing Competition WWiinnnneerrss EEssssaayy Publisher: Sejong Cultural Society Chicago, Illinois, USA June, 2007 - 2 - Table of Contents About the Sejong Writing Competition ……………..………………………………… 5 Winners List ……………………………………………………………………………………… 6 2006 Winners Clara Yoon …………………..………………. (2006 Senior, 1st)………...……........... 8 Jennifer Kim …………………...…………… (2006 Senior, 2nd) ........................... 10 Jessica Lim.......…………………….……...... (2006 Senior, 3rd) ............................ 12 Jiyoung Kim ……………….………….…… (2006 Junior, 1st) ………...…………….. 14 Sarah Honchul ……………………….……. (2006 Junior, 2nd) ……………………… 16 James Paik …………………..………....…… (2006 Junior, 3rd) ………………………. 18 2007 Winners Jay Lee ……………………………….………… (2007 Senior, 1st) ……………...………. 20 Christine Sun-Ah Kwon ……….…..…… (2007 Senior, 2nd) ……………………… 22 Cecilia Ahn ……………………...…..……… (2007 Senior, 3rd) ………………………. 24 Eunice Lee …………………………...……… (2007 Junior, 1st) ………….……………. 26 Michael Chung ….……………..…………… (2007 Junior, 2nd) ………….…………... 28 Andrew Song …….………………....……… (2007 Junior, 3rd) ………….…………… 30 About the Judges …………………………………………………………………….………….. 32 About the King Sejong The Great .…………………………………………………...…. 36 About the Sejong Cultural Society ……………………………………………….…..…. 37 - 3 - Sejong Cultural Society Programs Upcoming Programs The Fourth Annual Sejong Music Competition (November 2007), Winners Concert (January, 2008) The Third Annual Sejong Writing Competition (TBA in the beginning of 2008) The Second Sejong Korean-American Music Composition
    [Show full text]
  • Informational Materials
    Received by NSD/F ARA Registration Unit 02/08/2019 3:26:53 PM Nadine SIQCl!l'.l'.I From: Nadine Slocum Sent: Thursday, February 7, 2019 9:51 AM To: Lou, Theresa Cc: Hendrixson-White, Jennifer, Vinoda Basnayake Subject RE: Following up re: Korean delegation Attachments: 7. CV _Kim Kwari Young.pd!; 1S.CV "Kim Jong Dae.pdf, 14. CV "Park Joo Hyun.pdf, 13. CV_Baek Seung Joo.pd!; 12. CV_Chin Young.pdf; 11. CV_Choung Byoung Gug.pdf; 10. CV_Kim Jae Kyung.pd!; 9. CV_Lee Soo Hyuck.pdf, 8. CV_Kang Seok-ho.pdf; 6. CV_Na Kyung Won.pd!; 5. CV_Hong Young Pyo.pdf; 4. CV_Lee Jeong Mi.pd!; 3. CV_Chung Dong Young.pdf; 2. CV_Lee Hae-Chan.pdf, 1. CV_Korean National Assembly Delegation Feb.pdf, Bio - Moon Hee-Sang.pd! ' Hi Theresa, . Attached are the requested bias. Best, Nadine Slocum 202.689.2875 -----Original Message----­ From: Vinoda Basnayake Sent: Wednesday, February 6, 2019 6:15 PM To: Lou, Theresa <[email protected]> Cc:· Hendrixson-White, Jennifer <[email protected]>; Nadine Slocum <[email protected]> Subject: Re: Following up re: Korean delegation Copied Nadine from our offioe who can help with this. Than.ks so much for your patience. Sent from my iPhone ! > On Feb 6, 2019, at 6:02 PM, Lou, Theresa·<[email protected]> wrote: > > Hello Vinoda, > > Thank you for this. Are there short bios for the members of the delegation, particularly the speaker? Those wciuld be much easil;!r for u_s to incorporate. Please let me know if there are questions.
    [Show full text]
  • Korea-University-Bios.Pdf
    [Congratulatory Remark as University President] Jaeho Yeom Education 1989 Stanford University, Ph.D. in Political Science 1980 Korea University, MA in Public Administration 1978 Korea University, BA in Public Administration Career 이 테이블은 총장 주요 경력 게시판 리스트로 활동범위, 기간, 경력 정보를 제공합니다. 2015.03.~present The 19th President of Korea University 2012 ~ 2014 Executive Vice President for Administration & External Affairs 2004 ~ 2005 Chairman, Preparatory Committee for University Evaluation Positions at 2003 ~ 2006 Director, Institute of International Studies Korea 2003 ~ 2005 Vice-President for Planning and Budget University 2002 ~ 2004 Director, Institute of Governmental Studies Professor, Department of Public Administration, College of Political 1990 ~ present Science and Economics 2011 ~ 2012 Foreign Visiting Professor, Peking University, China 2008 President, Korean Association for Japanese Studies 2007 President, Korean Association for Policy Studies 2005 Visiting Researcher, CENTRIM, University of Brighton, UK 2003 ~ 2005 Vice President, Korean Association for Japanese Studies Academic 2002 Board Member, Korean Association for Policy Studies Appointments 2001 ~ present Adjunct Professor, Renmin University, China 1997 ~ 1998 Visiting Professor, Griffith University, Australia 1995 ~ 1997 Board Member, Korean Association for Japanese Studies 1995 ~ 1996 Visiting Researcher, TARA Center, Tsukuba University, Japan Visiting Researcher, Institute of Business Research, Hitotsubashi 1985 ~ 1986 University, Japan Chairman, Evaluation Committee for Public
    [Show full text]
  • Information to Users
    INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly firom the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. Oversize materials (e.g., maps, drawings, charts) are reproduced by sectioning the original, beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps. Each original is also photographed in one exposure and is included in reduced form at the back of the book. Photographs included in the original manuscript have been reproduced xerographically in this copy. Higher quality 6” x 9” black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. UMI A Bell & Howell Information Company 300 North Zeeb Road, Ann Arbor MI 48I06-I346 USA 313/761-4700 800/521-0600 NOTE TO USERS This reproduction is the best copy available UMI THE UNIVERSITY OF OKLAHOMA GRADUATE COLLEGE UNDERGRADUATE PIANO PEDAGOGY COURSE OFFERINGS IN SELECTED COLLEGES AND UNIVERSITIES IN THE REPUBLIC OF KOREA A DOCUMENT SUBMITTED TO THE GRADUATE FACULTY in partial fulfillment of the requirements for the degree of DOCTOR OF MUSICAL ARTS by KANGHEE KIM WON Norman, Oklahoma 1999 UMI Number; 9930845 UMI Microform 9930845 Copyright 1999, by UMI Company.
    [Show full text]
  • Economic and Social Networks
    ECONOMIC AND SOCIAL NETWORKS: IMPACTS ON REGIONAL ECONOMIC OUTCOMES AND CONCENTRATIONS GIL-HWAN PARK Bachelor of Arts in English Language and Literature Bachelor of Arts in Applied English Linguistics Kyung Hee University February, 2003 Master of Science in Urban Studies Maxine Goodman Levin College of Urban Affairs, Cleveland State University May, 2006 Master of Urban and Regional Planning Graduate School, Chung-Ang University August, 2006 submitted in partial fulfillment of requirements for the degree DOCTOR OF PHILOSOPHY IN URBAN STUDIES AND PUBLIC AFFAIRS at the CLEVELAND STATE UNIVERSITY December, 2009 © Copyright by Gil-Hwan Park 2009 All Rights Reserved ACKNOWLEDGEMENTS This dissertation would have not been possible without the help of a number of people. My deepest gratitude goes to my advisor, Dr. Mark S. Rosentraub. His scholarly support and advice made me accomplish this hard work. His constant encouragement made the poetic-minded student social scientific. I would also like to offer my deep appreciation to my committee members, Dr. William M. Bowen, Dr. Karen Harlow-Rosentraub, and Dr. Sugie Lee. They encouraged me by their challenging questions, insightful advices, and cordial support for the successful completion of my doctoral study. I would like to express sincere gratitude to Korean professors. My advisor at Chung-Ang University, Dr. Jaewan Hur helped me begin and complete doctoral work in the United States. My study abroad also benefited from the continued support from Chung-Ang faculty members and alumni, Dr. Seong- Kyu Ha, Dr. Myung-Jin Jun, Dr. Tae Hoon Moon, Dr. Heonsoo Park, and Dr. Daekee Yun. I deeply appreciate their academic help and cordial encouragement.
    [Show full text]
  • Teaching About Korea: Elementary and Secondary Activities
    DOCUMENT RESUME ED 292 718 SO 018 763 AUTHOR Lee, Yong-sook, Ed.; And Others TITLE Teaching about Korea: Elementary and Secondary Activities. INSTITUTION Korean Educational Development Inst., Seoul.; Social Science Education Consortium, Inc., Boulder, Colo. REPORT NO ISBN-0-89994-309-8 PUB DATE 86 NOTE 196p.; Photographs may not reproduce clearly. AVAILABLE FROM Social Science Education Consortium, Inc., 855 Broadway, Boulder, CO 80302. PUB TYPE Guides - Classroom Use Guides (For Teachers) (052) EDRS PRICE MF01/PC08 Plus Postage. DESCRIPTORS *Cultural Awareness; Educational Resources; Elementary Secondary Education; Foreign Countries; Instructional Materials; International Education; '*Korean Culture; Learning Activities; Social Studies; Teaching Methods IDENTIFIERS *Korea ABSTRACT The classroom activities in this book focus on teaching about Korean culture and society within the context of larger social science units. Also, some of the lessons may be taught within the context of the humanities and fine arts. An historical overview and a list of suggestions for working with small groups introduces the 18 lessons. The format for the lessons includes: (1) the introduction of the activity; (2) objectives; (3) the grade level; (4) teaching time; (5) materials; (6) teaching procedures; (7) teacher background notes; (8) student handouts; and (9) follow-up activities. The focus of the study of Korea is set by activity 1 which is a discussion of the 1988 Summer Olympic Games in Seoul. Nations throughout the world that will be participating in the Olympics are identified. Activities 2 and 3 illustrate Korea's status in the world and discuss important historical figures. Activities 4 through 15 provide an overview of Korean culture and life thorugh discussions of: (1) the Confucian ethic; (2) Korean homes; (3) Korean foods; (4) Korean family celebrations and holidays; (5) Buddhism; (6) the Korean alphabet; (7) Korean proverbs; (8) Korean folklore and poetry; and (9) Korean games and kites.
    [Show full text]
  • The Deterioration of the South Korean Real Estate Market and The
    The Deterioration of the South Korean Real Estate Market and the Response of the Government By Hidehiko Mukoyama Senior Economist Center for Pacific Business Studies Economics Department Japan Research Institute Summary 1. South Korea was the first major nation to recover from the recessionary slump triggered by the Lehman shock, and in 2010 it achieved 6.2% growth. One factor that could affect future economic performance as the underlying recovery trend continues is the expanding impact of a deteriorating real estate market. 2. Reasons for the worsening state of the real estate market include (1) government moves to strengthen measures designed to curb housing prices, which began to surge in 2005, (2) increased construction activity by real estate development companies in anticipation of bullish demand, and (3) the sudden deceleration of the economy after in the wake of the Lehman shock. 3. Also significant are structural factors, including the dramatic deceleration of new town development and population growth. The first phase of new town development was largely completed by the mid-1990s, but while a second phase was launched in the early 2000s, a fall in the population growth rate resulting from an accelerating decline in the birth rate has prompted a review of housing supplies. 4. In addition to its negative impact on the earnings of construction companies, this deterioration in the real estate market is also having a widening impact in other areas, including an increase in the amount of non-performing loans held by financial institutions. Particularly significant is the rapidly deteriorating financial positions of savings banks, which expanded their lending for real estate projects during the real estate development boom.
    [Show full text]
  • KSEA Letters 재미과기협 Vol
    KSEA LETTERS 재미과기협 Vol. 37, No.2 (Serial No.207) February 2009 회보 재미한인과학기술자협회 Korean-American Scientists and Engineers Association www.ksea.org February 2009 Note to Our Readers Editorial Page Calling all members! Getting Involved Enhances KSEA Membership and Our Careers… Volunteers are the heart and soul of KSEA. As a member-driven, non-profit, ethnic professional organization, the success of KSEA is a result of the time and commitment of active members. Many opportunities exist for getting involved in the organization at both the local, regional, national and international levels. Feel connected to KSEA… Volunteering is one of the best ways to feel connected to KSEA. By the simple gesture of offering our skills and enthusiasm, we will positively impact other lives, as well as our own. Volunteers connect people and offer a new chance to build a stronger community. We will meet new people, make new friends, help someone, improve our community, and make a difference throughout volunteering in the KSEA activities. Of course, volunteering is fun! KSEA Letters,Vol. 37, No. 2 Publisher | Kang-Wook Lee Publication Directors | Jane Oh Jeong Seop Shim Yongtaek Choi Publication Coordinator | Mison Jeon Graphic Design | Miyoung Yoon Publication Date | February 20, 2009 Published by the Korean-American Scientist and Engineers Association. All rights reserved. No part of this publication maybe reproduced, in any form or any means, without the prior written permission of KSEA. KSEA assumes no responsibility for statements and opinions advanced by
    [Show full text]
  • KOREA: Special Edition to the Morning Calm Navigation Tips for Newcomers Korea-Wide Road Map P20 Korean Traffic Signs P29 Incheon Airport Guide P36
    WELCOME TO KOREA: Special Edition to the Morning Calm Navigation Tips for Newcomers Korea-wide Road Map P20 Korean Traffic Signs P29 Incheon Airport Guide P36 AUGUST 5, 2011 • Volume 9, Issue 41 Published for those serving in the Republic of Korea http://imcom.korea.army.mil — Photo illustration by Russell Wicke and Kevin Jackson Photo illustration by Russell Wicke and Kevin Jackson GARRISONS OVERVIEW MAPS & GUIDES IMCOM Overview P02 Learn Korean P35 Radio and TV P12 USAG Red Cloud P08 Education P04 P37 Map of Korea P20 USAG Yongsan P14 Housing P06 Korean War History P24 USAG Humphreys P16 In-processing P19 Medical Demilitarized Zone P27 USAG Daegu P22 FMWR P33 Traffic Signs P29 Religious Support P39 Care Facilities Airport Guide P36 PAGE 2 • WELCOME EDITION http://imcom.korea.army.mil WELCOME TO KOREA The Morning Calm Published by Installation Management Welcome to Korea: Command - Korea Commander/Publisher: Brig. Gen. John Uberti Public Affairs Officer/Editor: Dan Thompson Editor: Russell Wicke The Army’s ‘Assignment of Choice’ USAG-RED CLOUD I take great pleasure in welcoming you to together to sign the Army Family Covenant. Commander: Col. Hank Dodge the Republic of Korea. Whether this is your first That promise is our guarantee to provide a Public Affairs Officer: Kevin Jackson time on the peninsula or a return assignment, quality of life commensurate with the service Staff Writers: Pfc. Mardicio Barrot, Pfc. Jin Choe you can look forward to a rewarding tour of duty of our great Soldiers and Family Members. USAG Yongsan in the “Land of the Morning Calm.” I remain fully committed to this covenant Commander: Col.
    [Show full text]