1. CONTENTS
(1) RESEARCH OBJECTIVES
The purpose of this study is to draw implications by critically defining if the goals of real estate policy is based on rational decisions and includes valuations. The value of this study can not only contribute to the constancy and durability of real estate policy but also enhance the reliability and mutual understanding by setting appropriate agenda.
(2) RESEARCH METHOD
Policy includes the stages of setting agenda, examining alternatives and selecting one alternative, carring- out, evaluation and feed-back. This study sets limits only to the stages of policy agenda setting and evaluation of the goal.
The study was based on documentary research and content analysis. The reasonableness of the formation and the goal of real estate policy was critically considered. Through this, we defined the factors which has restricted the reasonableness of the real estate policy and confirmed the value neutrality of the goal.
(3) RESEARCH FINDINGS
Every government's real estate policy don't have differentiations. All the decisions are based on the limitive administrational reasons and for passive goals. The administrations of Roh and Lee have different view points on the policy but the actual differences are not found except enhancing or weakening of the pre-existing policy.
2. RESULTS
The real estate policies of both the Roh and Lee administrations didn't have clear directions which the policies should have shown in practical means. They also reacted to the market change and were influenced by the interest groups, which led them to uncertain decisions such as strengthening and weakening of the policies. The process of the policy decision failed to predict future, took passive goal only to react to the market change and the goal of policy had very restricted rationality. As a result, the market participants confronted confusions and the policy's credibility was lost.