Original Article International Journal of Fuzzy Logic and Intelligent Systems Vol. 18, No. 2, June 2018, pp. 135-145 http://doi.org/10.5391/IJFIS.2018.18.2.135 ISSN(Print) 1598-2645 ISSN(Online) 2093-744X Genetic Algorithm-based Optimal Investment Scheduling for Public Rental Housing Projects in South Korea Jae Ho Park 1 , Jung Suk Yu 2 , and Zong Woo Geem 3 1 Graduate School of Urban Planning & Real Estate Studies, Dankook University, Yongin, Korea 2 School of Urban Planning & Real Estate Studies, Dankook University, Yongin, Korea 3 College of Information Technology, Gachon University, Seongnam, Korea Abstract Declining birthrate is a serious problem that threatens the sustainability of Korean society. The main cause of this phenomenon is high living cost where housing cost accounts for the majority in household expenditure. South Korea has a very low supply rate in public rental housing when compared to other OECD countries. Because young people cannot afford to buy or lease a house for their new houses, some of them postpone or even give up marriage. As a countermeasure, Gyeonggi Province (surrounding area of Seoul) recently announced the supplying plan of 10,000 public rental houses by 2020. We expect this measure to alleviate the low birthrate problem and increase the demographic sustainability of the province. This study optimizes multi-annual investment scheduling for rental housing projects using genetic algorithm while satisfying the constraints such as budget, human resources, regional balance, etc. Through the optimal investment scheduling, we hope that public corporation will supply public rental houses more efficiently and more sustainably for the community. Keywords: Public rental house, Optimal investment scheduling, Sustainable housing, Genetic algorithm Received: Apr. 7, 2018 Revised : Jun. 9, 2018 Accepted: Jun. 18, 2018 Correspondence to: Zong Woo Geem (zwgeem@gmail.com) ©The Korean Institute of Intelligent Systems cc This is an Open Access article dis- tributed under the terms of the Creative Commons Attribution Non-Commercial Li- cense (http://creativecommons.org/licenses/ by-nc/3.0/) which permits unrestricted non- commercial use, distribution, and reproduc- tion in any medium, provided the original work is properly cited. 1. Introduction Low birthrate is a serious problem that threatens the sustainability of Korean society. The OECD data shows the total fertility rate of Korea is 1.21 (children per woman) and it is the lowest among developed countries (United States 1.86, United Kingdom 1.81, France 1.98, Japan 1.42, Germany 1.47) in 2014 as shown in Figure 1. Assuming no migration and unchanged mortality, a total fertility rate of 2.1 ensures a stable population. Figure 1. Fertility rates in 2014. From OECD data [1]. 135 |