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No Home for the Household: The Implications of Household Debt and Demographic Changes on the Real Estate Market in South Korea

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Kyu Seok Shim examines the implications of South Korea’s demographic transition on its real estate market and the risks posed by a rapidly escalating household debt. He also analyzes the ROK government’s response to the faltering demand in the housing sector and argues that it may only serve to further leverage homebuyers, presenting the possibility of a long term economic crisis in the aging country.

Kyu Seok Shim is a second-year M.A. student at SAIS, concentrating in Korea Studies and Global Theory and History. Prior to SAIS, he has lived in Brazil and obtained his B.A. in Political Science and History from Columbia University. He has interned at a trade research organization, and has also taught at a private academy in Seoul. His primary academic interests include democratic development in South Korea and patronage networks from a comparative perspective. He aims to continue his studies by pursuing a PhD in these subjects.