• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.103-114
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• 2015

The exchange rate volatility during the global financial crisis in 2007-2009 led Korean shipbuilding companies to face currency risk. The use of foreign currency derivatives to take a risk in financial exposure affects them significantly. This research analyzes how the use of foreign currency derivatives affects the Korean shipbuilding industry in relation to its foreign sales by company type and over time, especially before and after the crisis period. It is based on statistical data presented by KOSHIPA and KOSIC in 2001-2014. The results of the analysis show that there is a significant relationship between foreign currency derivatives and foreign currency exposure for all firm sizes and years, but no relationship between them overtime.

• Journal of the Korea Safety Management & Science
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• v.23 no.4
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• pp.73-81
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• 2021

Today's manufacturers must respond quickly to customer needs. In particular, make-to-order companies are constantly striving to satisfy customer demand for products in order to secure more favorable conditions in the future through bidding. In this bidding process, quotations play a very important role in providing favorable conditions. And the most important content that companies strive to satisfy their customers is the product's performance. Therefore, a company can attract customers and secure economic profits through good quotations, but it can be said that the first priority is to match the performance of the products requested by the customers. That is, when a company creates a quotation, it is important to structure the quotation according to the performance of the product. Thus, this paper intends to present a quotation management framework and a quotation BOM information model for constructing quotations efficiently in make-to-order manufacturing. And, in order to prove the usefulness of the proposed quotation management framework, we presents an case of the construction of an quotation management system based on the JAVA platform. As a result, the integrated quotation management system based on the proposed quotation management framework and quotation BOM has been successfully operated in a make-to-order company that manufactures marine engines.

• Korean Business Review
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• v.19 no.1
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• pp.53-80
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• 2006

This research has been accomplished to build up the growth strategies of Kangwon district's small & medium-sized construction firms. For this purpose, we made an investigation of the present situation and status for existing regional small & medium construction firms by analyzing data. Based on the results from this study, the following growth strategies are suggested to gain their competitive advantages. Firstly, most of all, the role of the top manager is the most important factor since most of the top manager for the small & medium-sized construction firms coincide with the owner the firms. Secondly, the specialization strategy is to establish. Above all they concentrate their business capacities on core business. Then, this growth strategy should be based on the selective escalation of functions in order to maintain an appropriate level of construction works. Thirdly, the specialized skills and skilled workers are ensured for competitive advantages. For human resource development, they should train workers to be multi-functioned on the assumption the they could stay at firm until they wish to retire. Finally, the government must also spare no effort to encourage the small & medium-sized construction firms to build up it's competitive power and cultivate it's spontaneous generation power though the reformation of system related whit the small and medium construction industry.

• Korean Journal of Construction Engineering and Management
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• v.15 no.6
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• pp.92-104
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• 2014

CM services have been increasingly practiced over the two decades in the Korean construction industry, and recent efforts focus on further development in advanced CM capabilities and expansion to overseas market. However, there has been lack of holistic research to investigate current status and future direction of CM industry in Korea. In this context, the purposes of this study are 1) to analyze current status of Korean CM industry in terms of owners, market, CM firms, contracts, and work scopes, 2) to define different types of CM practices, and 3) to propose growth models for Korean CM firms based on the defined CM project types. An extensive literature review and statistical analysis of 2012 CM contracts were performed in order to analyze the CM status. Based on the analyses, ten different CM types are defined, and growth paths of CM firms are illustrated. Implications and lessons learned during the statistical analysis and workshops are briefly introduced as well.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.64-76
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• 2006

Korea's overseas construction industry has been rather depressed by the weakened profitability as well as the sharp decrease of the market shares due to the lack of international competitiveness and the declined international market. There exist a lot of various risks in performing the overseas construction, and especially EPC projects, which entail complicated process from different parts, also require a sophisticated procurement and management skill. Subsequently, to survive in the competitive international market, we need to establish strategies to select potentially profitable projects at the initial stage of bidding process and to mitigate the high degree of risk exposure through contract negotiation and its adjustment. This research discusses the trend of environment in international construction markets. Then, it identifies the key factors that affect the profitability significantly through the structured surveys from 59 actual overseas projects, and it analyzes the key factors by using statistical methods. This research provides the profitability evaluation bases, with which overseas construction participants can forecast and analyze the risk more systematically, by eliciting profit-influencing factors using the result of statistical analysis, literature review and structuring their cause-and-effect relationships. The profitability casual hierarchy structure describes the profitability factors' hierarchy in details and their interrelationships. It also enables us to find out critical factors directly related to profitability aggravation through a qualitative and quantitative analysis. Ultimately, with this hierarchy structure as the base, the research will suggest how to develop the quantitative profitability forecasting model.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.7
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• pp.1267-1273
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• 2022

Although the Korea shipbuilding industry has recently been receiving most of the orders for ships in the world, production processes are being disrupted due to a shortage of manpower at the production site. This is because the workers quit the shipyard as both work and wages were reduced due to the long slump in the shipbuilding industry. The main reason for the increase in orders was the large-scale orders for Qatar LNG carriers, and the situation in which the technical specifications required for ships are becoming more complex is also working to an advantage. Because the contract delivery time is of utmost importance for ships, the dock launch plan is the most important management item among the shipyard's major processes. The structure to be built in the dock may be a hull that has left the design work or a finished vessel, and in some cases, it is often at the level of some blocks of the hull. When launching, the hull is affected by the hogging or sagging moment due to the fluid force, and securing the safety of the structural strength of the block connection is of utmost importance. In a normal process, the connecting member launches after welding has been completed, but in actual shipbuilders, quick decision-making is needed on the conditions for securing structural safety to comply with the docking schedule. In this study, a detailed analysis method and applicability using a bending stress evaluation method and finite element analysis modelling were analyzed to rationally judge the above-mentioned problems from an engineering point of view. The main contents mentioned in the thesis can be used as good examples when conducting similar structural strength evaluations in the future.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.54-62
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• 2012

Currently, construction engineering industry of high value and rapid growing has been viewed as a future oriented industry. Thus, compared to other industries, its analysis system for business trend seems insufficient. This research has developed a business survey index model targeted for construction engineering industries, and business trends for 4/4 quarter of 2011 as well as 1/4 quarter of 2012 were surveyed as important traits were analyzed. Business Survey Index of Construction Engineering has been constructed in form of an index in order to accurately judge different economic states of the industry such as funding areas, human resources, payability, ordering scale, status of domestic and foreign markets, Difficulties in Management, and improvements in policies. In the future, CEBSI will not only be applied on the construction engineering industry, but it will also be used as the economic state of all construction industries as well as the prospect data. Thus, it will be utilized as basic resources that can establish systematic and accurate policies.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.118-126
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• 2016

International construction market have quantitatively increased and have reached up to 700 Bil. US$ through active effort of construction firms and government. In spite of this increase, substantiality issue has been constantly disputed due to qualitative problems such as lack of capability and technical shortage. To overcome these problems, many methods in performing quantitative growth and qualitative substantiality of overseas construction are being researched which showed that selection of subcontractors in general contractor is regarded as a very important success factor. However, it is difficult to make a reasonable decision for selecting the subcontractors due to the lack of evaluation standards and reliability. This study proposes an improved evaluation system through adjustment of the evaluation indicators using correlations analysis and multiple regression analysis with pre-qualification and performance evaluation of 121 firms in 6 countries.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.505-508
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• 2008

It's hard to express a lot of information within the drawings and the specifications as construction projects have gradually become large-size and complex. So, disputes are caused by that and reason that the usual practice(culture) of contract of the constructions in Korea is based on unfair rather than the fair principle between clients and contractors. However, the contractors don't try to solve this kind of things because they are worried about at their disadvantage situation. Therefore, this paper deduced the factors in the pre-dispute phase by analysing the cases of the civic counseling in the office of supply and the pre-dispute factors, and conduct analysis on the factors' importance by using AHP. The results will be used for a check-list to prevent the disputes.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.629-633
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• 2004

The number of claims and disputes among project participants has been steadily increasing last a few years and it creates numerous conflicts and problems in the domestic construction industry. One of the root causes of claims and disputes can be explained by the fact that project objectives of participants are offer different and not aligned. This research is considered as a pre-study of developing a strategy to mitigate conflicts such as claims and disputes in the domestic construction industry by utilizing Alternative Dispute Resolution (ADR) techniques. This research focused on improving standard contrast documents to establish a systematic dispute resolution process which emphasize the ADR method. To do so, several well-recognized contract documents developed by FIDIC, AIA, ECC were throughly investigated and analyzed using a benchmarking process. Result of the research propose needs of improving the domestic construction document's some clauses and the details will be further Investigated through surveys and expert's opinions.