• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.26-30
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• 2004

중국심천 삼성코닝 프로젝트 (SSG Expansion Project)는 전문적인 건설인력이 없는 발주처를 대신하여 설계단계에서 최종 턴 오버(turn over)까지 건설 전 과정에 대하여 CM을 수행한 사례로서 한국기업이 중국에서의 CM 업무를 성공적으로 수행한 대표적인 사례이며, 대규모 공장건설에 있어 건설과 생산설비의 설치에 대한 종합적인 공정관리와 설계, 시공을 동시에 수행하는 Fast Track 방식에서 범할 수 있는 설계오류 및 풀질저하에 대한 사전 예측관리, 현지의 건설특성에 적합한 각종 공법 및 요소기술의 제시를 통한 시공성 향상, 원가절감, 공기단축에 기여로 유사 프로젝트 대비 4개월 이상 단축하여 성공적으로 제품을 생산하는 성과를 달성한 사례이다. 이에 본 연구에서는 프로젝트의 각 단계별 주요 CM업무 수행현황 및 중국건설의 특징을 고찰하고, 한국기업의 중국 CM시장 진출 가능성과 진출을 위한 사전준비에 필요한 사업 단계별 유의사항에 대한 검토를 목적으로 한다. 국내 건설경기가 침체되어 있는 현재 본 연구를 통하여 중국 건설현황에 대한 올바른 이해와 중국 CM시장의 진출 및 성공에 밑거름이 될 수 있기를 기대한다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.539-544
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• 2007

Owing to diversification of social desire and increase of demand as economic growth, construction industry recently is trending toward diversification, complication, gigantism. It means that is changing to difficult environment as existing construction company operation. Specially, some big construction companies are promoting get down to construction business risk management skill & development. Enterprise risk management system, recognized to risk portfolio, is suggested. instead of individually risk management. This study indicates ERM basic model, considering construction risk character, for apply to ERM to field of construction . And it is including analysis of recognition level and reality about ERM in construction company.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.8
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• pp.4863-4873
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• 2014

The Korean construction industry has played a major role among all industries despite its relative small ratio of all. The global economic crisis, however, has adversely affected the construction industry. Therefore, the Korean government implemented a corporate restructuring process to ensure the stability of the financial market. The selection standard on workout enterprises by the government is based on two perspectives: (1) external factors, including macroeconomic indices and (2) internal factors, including financial statements of private enterprises. On the other hand, if considering the characteristics of the construction industry, a certain construction company may not be evaluated only by its financial statements. In other words, a valuation process that utilizes the financial statements only can be concluded to be irrational. Accordingly, this study aims to provide the valuation model, which embraces the characteristics of workout firms, and determines their implications. To accomplish this, each enterprise valuation was measured using DCF and Black Scholes models, and by comparing such results with their market value, each enterprise was determined to be either under or over-valued. The results of this study verified that the valuations of 2 workout companies (out of 4) showed a higher value than the market value.

• Journal of the Korea Institute of Building Construction
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• v.18 no.6
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• pp.585-594
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• 2018

Chinese construction corporations take more market shares in the global construction market. The performance of Chinese construction corporations need to be reviewed from the capability and qualification system of the engineers including supervision engineer. The purpose of this study is to analyze the characteristics of professional qualifications for supervision engineer in China. The research methodology is to investigate the qualification exam system, process and examination subjects for searching the fundamental body of knowledge about supervision engineer qualification. The results shows that the qualification system in supervision engineer are classified in detail for the body of knowledge and operated by the government. The qualification examination requires broad and defied knowledge structure together with practical experiences. The research results may lead further research subjects of Chinese construction related qualifications and education system in the ways of more specificity, expertise, and practicality. The mutual understanding of qualification system becomes major issue to build better collaboration in global market.

• Korean Journal of Construction Engineering and Management
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• v.6 no.2 s.24
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• pp.102-110
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• 2005

After the IMF bailout, the Environment of Domestic Construction Industry had changed dramatically. Before the IMF, Domestic Construction Firms are secured by the government regulations and some traditional practices. However, due to the following reasons: a decrease in public works, an increase in uncertainty of market prediction, the change of bid system, and increase in construction firms, recently the competition among construction firms has became keen. Under the serious competition, in order that medium-size construction firms survive in the construction market, it is need to establish the strategy that could increase productivity. In order to establish the strategy, firstly, construction firms should set up an appraisal standard of construction firms. Consequently, This study will introduce companies' objective appraisal in domestic construction market as well as basal data for setting-up strategy through adaptation industry structure analysis of business administration for strategic group analysis and a company which has lagged behind competitive power among the competitive companies can choose a target strategic group which should be pursued it in the future through being classified according to a group taken analogical strategy.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.124-132
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• 2019

Notwithstanding the crucial contribution of international construction industry in the national economy, previous studies on international construction contracts had mainly focused either on trend investigation or market share analysis at a point of time. Fundamentally, the international construction industry is fragmented due to its project-based nature, is heterogeneous that has to involve different firms from diverse fields, and tends to be dynamic according to macroeconomic conditions. Therefore, the combination of static and dynamic analyses is necessary to understand its underlying structure. This study analyzes the market structure of international construction contracts using the data of 9,173 projects awarded by Korean construction firms from 2000 to 2017. Industry-level performance data is analyzed both in static (market concentration) and dynamic (market mobility and instability) methods, and detailed methodology is also provided. Consequently, the static analysis result shows that the competition among Korean construction firms has been more intensified, and the dynamic analysis result indicates that market positions of Korean construction firms are unstable and vulnerable in most of the regions and the sectors. The combination of static and dynamic indices is found to be helpful to understand the underlying aspects of market structure and can be utilized as an effective strategic reference in the highly competitive market.

• Proceedings of the Korea Society of Design Studies Conference
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• 2000.11a
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• pp.76-77
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• 2000

모델하우스는 수요자와 기업이 교감할 수 있는 만남의 장소임과 동시에 아파트라는 상품의 정보를 수요자에게 제공하는 공간이며, 아파트에 대한 이미지를 직접적으로 전달할 수 있는 공간으로 건설산업에서 모델하우스를 짓는 것은 필수적이었다. (중략)

• The Korean Journal of Financial Studies
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• v.3 no.2
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• pp.203-233
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• 1996

본고(本稿)는 우리나라, 미국 그리고 일본의 장외시장에 등록된 기업의 특성을 업종별, 규모별, 소유자별, 주가 수준 및 상승률 등의 측면에서 살펴보았다. 우리나라의 주식장외시장 등록기업의 자본금 규모는 매우 적어 거래소 시장에 상장된 기업의 평균 자본금 규모의 1/8수준에 머물고 있으며 주가 수준도 매우 낮은 것으로 조사되었다. 첨단기술집약형 벤처기업이 많이 상장되어 있는 미국과는 대조적으로 우리나라 장외시장에는 건설업 및 금융업 관련 기업이 많이 등록되어 있다. 그리고 장외시장 등록기업의 평균주가는 거래소 상장기업의 절반 수준에 머물고 있는 것으로 조사되었다. 미국의 장외시장에 등록된 기업은 주로 정보기술 (소프트웨어 및 하드웨어), 통신, 의약품, 생명공학 등의 업종과 관련한 기업이 많으며 또한 금융업(은행 및 보험 포함)과 관련된 기업도 많은 것으로 조사되고 있다. 그리고 NASDAQ시장에서 주가 상승률 등의 기준에서 좋은 성과를 나타내고 있는 기업도 대부분 컴퓨터 및 생명공학 관련 기업인 것으로 밝혀졌다. 특히 지난 5년 동안 높은 주가 상승률을 기록한 기업의 조사에서 상위 10개 기업에 NASDAQ시장 기업이 5개나 포함되어 있기도 하여 미국의 장외시장은 투자자들에게 고수익을 제공하는 시장으로서도 충분히 인식되고 있다. 그런데 미국에 비해 장외시장이 기업의 자금조달 창구로서 그 역할이나 기능이 미흡한 일본의 장외시장은 도소매업 및 서비스의 기업이 많이 등록되어 있어 미국의 현황과는 대비를 이루고 있다. 자본금 규모면에서 보면 10억엔에서 20억엔에 해당되는 기업이 가장 많으며 장외시장 등록기업의 소유자별 분포를 주식수 기준으로 보면 사업법인과 금융기관이 소유하고 있는 비율이 49.5%를 시현하고 있다. 그리고 주가 수준은 1,000엔과 3,000엔 사이에서 주로 형성되고 있는 것으로 나타났다.

• Korean Journal of Construction Engineering and Management
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• v.12 no.5
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• pp.146-154
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• 2011

Korean contractors have been maintained sustainable growth since entering into overseas construction market for the first time in 1960' s. In 2010, Korean contractors ordered 761 billion (USD) from overseas markets. Especially, billion (USD) were earned by Korean contractors in overseas plant construction market which account for more than 80% of the total amount by Korean contractors. Nevertheless, many Korean contractors are suffering from lack of technological competitiveness and construction management skills in the design phase compared with global leading contractors. These conditions have directly effect on the success of projects in terms of cost, duration, and quality. So, this study focused on identifying the risk factors and developing risk priority method for the design phase of LNG plant projects whose market is expanding. Research procedures were conducted by the following three steps. First, total 57 risk factors were identified in design phase through extensive literature reviews and experts survey. Second, the authors developed risk priority method which are more suitable for design phase of LNG plant projects by using three criteria, Probability(P), Impact(I), and Coordination Index(CI). Finally, the suitability of risk priority method and practical applicability were verified through expert survey and interview. Consequently, if korean contractors use the suggested risk factors and priority method based on their own know-how and experiences, then more reasonable and rational risk management will be conducted in the design phase of LNG plant projects.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3062-3071
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• 2011

This study proposed to compare the performance differences between a manufacturing company and a construction company in accordance with the mutual relations and ownership structures with the management performance based on the increase or decrease of the large shareholders' share-holding ratio (insider ownership, foreign share-holding, institutional investors' share-holding) of a KOSPI listed company in Korea during 10 years(1998-2007). To sum up the research work, first, the increase of foreign share-holding supported the results of previous studies which foreign share-holding has a positive effect on the long term performance by having a positive(+) effect on MTB, and the increase of an insider ownership supported the management entrenchment hypothesis of previous studies by having a negative(-) effect on MTB. However, relations between institutional investors's share-holding and MTB could not find out linkages in spite of the results of previous studies where dealt with the active monitoring hypothesis. Also, to examine the linkages of ROA and the ownership structure, though the increases of foreign share-holding and insider ownership had a positive(+) effect on ROA, the increases of institutional investors' share-holding had a negative(-) effect on it. It showed different analysis results from the active monitoring hypothesis of institutional investors. As a result of verifying whether there is "any difference in the management performances between the construction industry and the manufacturing industry according to the equity structure" which is the second hypothesis, nothing of the insider ownership and whether or not there is the construction industry, foreign share-holding and whether or not there is the construction, and the institutional ownership and whether or not there is the construction industry gave a statistical difference to MTB and ROA. Accordingly, it was possible to find out there is no difference in the management performance between the construction industry and the manufacturing industry based on the ownership structure in spite of different characteristics from the manufacturing industry such as the revenue recognition in ordering, production and accounting.