Dong-A University Professor Cho Yong-bok’s team wins 2025 Paper of the Year award... Analyzes factors determining apartment prices in Busan

[Financial News] Dong-A University said on the 11th that the research team led by Professor Cho Yong-bok of its Department of Management Information Systems had won the Korean Society of Internet and Electronic Commerce’s “2025 Paper of the Year (Paper of the Year 2025)” award.
The Korean Society of Internet and Electronic Commerce selected and awarded as its Paper of the Year the paper published in its 2025 journal, “Internet and Electronic Commerce Research,” that stood out most for its creativity and academic contribution. The award ceremony was held at the society’s 2026 Fall Academic Conference, recently held at Gyeongsang National University’s Tongyeong Campus.
The award-winning paper, “An Analysis of Factors Determining Apartment Sale Prices in Urban and Non-Urban Areas Using a Spatial Econometric Model,” analyzed the factors shaping prices in urban and non-urban areas and the interactions between them, focusing on the apartment market in Busan. It was particularly praised for offering a new perspective on understanding the multilayered structure through which housing prices are formed.
The findings are expected to be widely used in real estate market forecasting and valuation, as well as in developing housing policies tailored to local areas. They are also expected to help proptech and other real estate platforms evolve beyond simply providing information into decision-support services based on advanced data analysis.
The research team also included Professor Cho, research professor Kim Seong-jae of Dong-Eui University, doctoral student Park Jin Su, and Kang Gyeong-tae, who holds a master’s degree.
Professor Cho said in his acceptance remarks, “I’m pleased that research I spent a long time thinking deeply about and preparing has been well received by the society,” and added, “I’m grateful to the fellow researchers who worked hard with me and everyone who supported the research, and I will continue to give back through meaningful research.”
The research team plans to expand its follow-up research based on big data in the wake of the award and increase the use of its findings in industry and policy.

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