Pukyong National University

Finding solutions to real estate problems through business economic theory & AI fusion research

- Prof. Ahn Se-Ryoong at PKNU, selected for a large-scale national project in the humanities and society … Approx. 400 million won Research funds

To find the cause and solution of the imbalance in real estate prices, fusion research using artificial intelligence techniques such as machine learning data analysis as well as business economic theory is being promoted nationally, attracting public attention.

A research team led by Professor Ahn Se-Ryoong of Pukyong National University (Business Administration) announced on September 15th that the research team would be selected as a joint research project for the Humanities and Social Sciences of the National Research Foundation of Korea (NRF) to conduct research titled 'Analysis of the real estate market and household wealth imbalance: Focusing on the convergence approach'

The joint research team, including Professor Ahn, who is in charge of this study, Kim Hyeong-Jun (Dept. of Business Administration) from Yeungnam University, Ryu Du-Jin (Dept. of Economics) from Sungkyunkwan University, Seok Sang-Ik (Dept. of Business Administration) from the University of Ulsan, and Hong Jeong-Eui (School of Management and Economics) of Handong Global University, will carry out the research with a research grant of 400 million won approximately for three years by June 2024. This grant is a rare and large amount for a research project in the humanities and social sciences.

The goal of this joint research project is to derive the causes and solutions of problems related to △access to housing finance, disparities in wealth, △deepening disparities between generations, and △disparities between regions through the real estate market.

In particular, the team plans to conduct research in a way that has never been attempted before, systematic, and empirical models using machine learning data analysis techniques such as data crawling and agent-based simulation, as well as theories in management and economics.

For this, young professors in their 30~40s who majored in applied economics, mathematics, computers, and electronic engineering, as well as majors in business and economics, are the key members to conduct fusion research in the financial and banking field based on artificial intelligence. will perform

Through this research, the research team is looking forward to finding ways to consider the underprivileged by diagnosing the effects of housing and financial policies, including suggesting the causes of the housing and asset gap in the process of economic development and countermeasures by comparing national policies. In addition, they expect that this will provide comparative analysis data of overseas policy cases that can be used for real estate policy and investment decision-making.

Professor Ahn, who oversees the research, said, "Through simulation of domestic housing policy, I am expecting that this research will present meaningful results on the real estate market and household asset market, which are continuously being talked about as a result of quantitatively estimating the effects of various housing policies and deriving policy recommendations." <Pukyong Today>