|▲ OCU Real Estate & Financial Assets professor Lee Tae-gwang|
The Moon Administration’s economic policy lays on income-led growth: directly increasing wage and household income to promote consumption and to expand company’s investment and production.
“The problem is that it can be a big issue during the process of consumption alongside raised usability of welfare budget” Lee Tae-gwang, Open Cyber University of Korea Real Estate & Financial Assets professor, points out.
Korea’s welfare budget is 157 trillion won taking 1/3 of the national budget. Around 10% of the budget also is being spent for urban regeneration which enhances new industries such as electronic engineering, high tech and IT through remodeling of building, creating cutting edge industrial complexes and recovering of historical assets.
“Urban regeneration can help activation of economy in certain areas but its effect can hardly be felt among individuals. For example, low income households are still busy paying back the debt even after they receive welfare support.”
“The rich invests in the period of slump and harvests in booming while as the poor accumulates debts in slump and pays back in booming. For a long time, Korea’s economic structure has been in favor of big companies while around 60% of the businesses are small business owners or SMEs. It is not easy to change this already cemented economic structure so the business activity in Korea might still face difficulty for some period.”
“I predict that the current minus growth will keep its tract for a certain period and it is natural, therefore, that companies are sparing of themselves. A solution to this is to provide a good compensation and appropriate measures.”
Lee is researching on efficiency of real estate possession and trade and providing down-to-earth consulting services. He also is actively engaged in fostering future specialists in the field.
He received the Korean Consumer Preference Brand Awards, Korea Social Contribution Award, Customer Emotion Management & Top Brand Awards, and Customer Satisfaction & Best Brand Awards. He also appeared on Ahn Hae Gyeong’s Life Today, and Jo Young Gu’s Trend Hot Issue.
Lee has published two books: <Learning Real Estate Auction in 24 Hours> and <Find Profitable Real Estate>.
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