The Renewal of Seoul City - A New Paradigm for Sustainable Development <br />
Channel News Asia broadcasted Seoul’s story of its renewal as a sustainable city in its “Korea Sparkling” documentary seri...
CGC Before And After<br />
The renewal of Seoul as a sustainable city presents an interesting case study on how economic concepts can be applied to t...
The “Curse” Of the Public Good<br />
Before and After<br />
Eliminating Congestion in Seoul<br /> Demand Reduction <br />Deconstructing the CGC Highway<br />Increase Price of Vehicle...
Externalities<br />
Deconstruction of the Highway<br />
Increasing the Price of Vehicle Use<br />
Policy Implications<br />Pricing mechanisms, while effective in reducing vehicle use, may not be optimal for significantly...
Eliminating Congestion in Seoul<br />Supply Reduction<br />Reducing the Supply of Complements – Reducing Parking Supply<br...
No Driving Day Programme <br />
Economics of No Driving Day<br />
Reforming Public Transport- Substitute for Vehicles<br />
Increasing the Marginal Utility of Public Transport<br />
Increase Interconnectivity<br />
Increasing the Marginal Utility of Public Transport<br />
Positive Externalities<br />
....Externalities<br />Real estate values in the CGC district increased by an average of 30%.<br />Temperatures in the CGC...
Conundrum....<br />What if Seoul City Government retained Highway but reformed the public transport system?<br />
THANK YOU!<br />
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The Renewal Of Seoul City

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Transcript of "The Renewal Of Seoul City"

  1. 1. The Renewal of Seoul City - A New Paradigm for Sustainable Development <br />
  2. 2. Channel News Asia broadcasted Seoul’s story of its renewal as a sustainable city in its “Korea Sparkling” documentary series in August 2009.Also reported in New York Times in 16 July 2009 <br />
  3. 3. CGC Before And After<br />
  4. 4. The renewal of Seoul as a sustainable city presents an interesting case study on how economic concepts can be applied to the analyses of public policy. <br />This presentation attempts to assess Seoul’s urban renewal policies using economic concepts of demand and supply, substitution, externalities, and marginal utility. economic concepts are rarely disparate.<br />
  5. 5. The “Curse” Of the Public Good<br />
  6. 6. Before and After<br />
  7. 7. Eliminating Congestion in Seoul<br /> Demand Reduction <br />Deconstructing the CGC Highway<br />Increase Price of Vehicle Use<br />
  8. 8. Externalities<br />
  9. 9. Deconstruction of the Highway<br />
  10. 10. Increasing the Price of Vehicle Use<br />
  11. 11. Policy Implications<br />Pricing mechanisms, while effective in reducing vehicle use, may not be optimal for significantly reducing vehicle use. <br />Assuming that the SCG did not regulate the supply of vehicles, pricing mechanisms will only “price” out consumers who are unable to pay the increased price for using their vehicles<br />
  12. 12. Eliminating Congestion in Seoul<br />Supply Reduction<br />Reducing the Supply of Complements – Reducing Parking Supply<br />Subsidising Reduction of Vehicle Use- “No Driving Day” Campaign<br />
  13. 13. No Driving Day Programme <br />
  14. 14. Economics of No Driving Day<br />
  15. 15. Reforming Public Transport- Substitute for Vehicles<br />
  16. 16. Increasing the Marginal Utility of Public Transport<br />
  17. 17. Increase Interconnectivity<br />
  18. 18. Increasing the Marginal Utility of Public Transport<br />
  19. 19. Positive Externalities<br />
  20. 20. ....Externalities<br />Real estate values in the CGC district increased by an average of 30%.<br />Temperatures in the CGC area about 3oC to 6oC lower than surrounding areas.<br />
  21. 21. Conundrum....<br />What if Seoul City Government retained Highway but reformed the public transport system?<br />
  22. 22. THANK YOU!<br />

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