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- W4319263459 abstract "There has been a thin literature concerning NHUF (National Housing and Urban Fund), specifically how to extend its cash-inflow sources circulatable on a long-term basis. Two main funding sources of NHUF, Korea Treasury Bond and Housing Subscriptive Savings Account, are so vulnerable to the changes of economic cycles and have a fine limit to upgrade the amount. The purpose of this study is to review the French case of ALS (Action Logement Services) using the employers’ compulsory donation, named as PEEC (Participation des employeurs a l'effort de construction: Participation of Employers in the Construction Effort), and then examine its applicability to NHUF in Korea. In the PEEC, all the business entities which hire more than 50 employees must donate 0.45% of payrolls in the previous year to ALC. Applying the system only to 500 big firms in Korea can increase around 450 billion KRW each year thereby being very beneficial to securing a long-run funding source. Firms may raise complaints against the introduction of a new quasi-tax, thus the government must consider mitigation measures to blunt the firms’ burden, e.g. firms’ lending to NHUF and the immediate securitization of those loan assets in the capital market. An alternative collection idea is to add some more percentage to the registration fees for new buildings, e.g. 0.5% of building value. It is expected to generate more than half a trillion KRW each year." @default.
- W4319263459 created "2023-02-06" @default.
- W4319263459 creator A5038890216 @default.
- W4319263459 date "2022-12-31" @default.
- W4319263459 modified "2023-10-01" @default.
- W4319263459 title "A Review about the Applicability of French Action Logement Services to a New Funding Source for National Housing and Urban Fund" @default.
- W4319263459 doi "https://doi.org/10.22313/reik.2022.20.4.165" @default.
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