This paper presents that some of the railway business districts has been lagging behind and stagnate despite the benefits of public transportation - railway. Especially, some private finances station buildings operated by Korail are shut down and run ...
This paper presents that some of the railway business districts has been lagging behind and stagnate despite the benefits of public transportation - railway. Especially, some private finances station buildings operated by Korail are shut down and run at a deficit, due to the failure of analyzing the appropriate location factors. This leads to regression and collapse of the business areas surrounding the railway stations. So, this paper starts from the aim to reduce the risks and acquire the policy implication in the development projects of compound business buildings and large-scale railway business districts. First of all, this paper analyzes how the location factor influences the rent and the sales of railway business districts in the 30 target subway business areas located in the metropolitan area through a regression analysis. Second, this paper sets the rent which has not been considered in the previous studies as a parameter. And, through the structural equation, the paper analyzes the intermediate role of the rent between the location factor and the sales of the railway business areas. Third, the study introduces brand index of business districts as a new factor. Finally, business districts of the railway are classified into privately financed station buildings and business areas surrounding stations, which helps to recognize the disparity of analysis according to the characteristics of each business districts. To sum up, the number of people using railway is the main determinator to the sales of railway business districts rather than other factors. Particularly, this main factor affects the privately financed station buildings far more enormously than business areas surrounding stations. And the brand index of business districts affects the sales of railway business areas positively.