공공 택지개발사업지구의 재무적 사업타당성 분석

Too Financial Feasibility Analysis of Public Housing Sits Development - Focusing on the Public Housing Sits Developed by the Korea Land Corporation -

1. CONTENTS (1) RESEARCH OBJECTIVES There are many studies on the financial feasibility analysis by using the methodologies such as net present value, internal rate of return and profit index in Korea. But it is not easy to find the study on the housing site developed by public sector. The purpose of this study is to study the financial feasibilities of housing site development in Korea, which was developed by the Korea Land Corporation, and will confirm whether the results of financial feasibilities effect on the Korea Land Corporation's financial structure or not. (2) RESEARCH METHOD The data for this analysis were collected from the Comprehensive development history of housing site published by the Korea Land Corporation from 2004 to 2008. In order to analyze feasibilities of housing site development, net present value, internal rate of return and profit index methodologies were used. (3) RESEARCH FINDINGS The results of this research are as follows, the most important finding is that the Korea Land Corporation does rot lose money because of housing site development. There are another causes that the financial structure of the Korea Land Corporation become worse. On the contrary, there are more possibilities of increasing the debts for the expansion of new projects, new town and New Capital than the loss of housing development. 2. RESULTS This study focused on the financial feasibility studies of public housing site developed by public sector, especially the Korea Land Corporation. Based on the NPV, IRR and PI methodologies, this study shows that there are moch possibilities that causes of financial structure of the Korea Land Corporation become worse are the increased debts for the expansion of new projects, new town and New Capital