• Korean Journal of Construction Engineering and Management
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• v.16 no.3
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• pp.152-164
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• 2015

Enhancing clarity and transparency of the pricing guide for technical services for public construction works enables the prediction and reimbursement of the service cost for project owners and bidders, while it would also yield benefits for engineers who carry out the construction tasks. In order to improve the global competitiveness of construction service industry, the government revised its pricing guide for techical services for construction works recently, moving away from its previous percentage-of-construction-cost method towards the Cost Plus a Fee Method. However, since the Cost Plus a Fee Method results in the rise of the service price by 153%~197%, there is the need for a review on the method and basis of the adjustment in order to avoid controversies regarding the application of the revised method. In this context, this paper analysed the 2014 revision of the pricing guide for technical services for public construction works through comparison with foreign cases including those of the US and the UK. The analysis yielded the conclusion that, while the shift towards Cost Plus a Fee Method which is widely used in advanced economies is a very meaningful change in large measure, certain aspects still remain problematic. Unlike in advanced economies, the detailed break-down shows the direct labor cost includes certain indirect expenses. Also, indirec expenses are admitted so comprehensively as to include overhead costs and technology royalties. These problems results in redundant estimation of certain expenses, and obstructs transparency in spending details. This paper proposes various improvement measures to address these issues.

• 한국신재생에너지학회:학술대회논문집
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• 2008.05a
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• pp.87-90
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• 2008

Levelized generation cost(LGC) has been widely used in assessing feed-in tariffs(FiT) for electricity generating from new and renewable energies. Current FiTs for renewable electricity in Korea have been fixed and applied with realistic economic data by the efforts of KERI(Korea Electrotechnology Research Institute) since October 2006. Some critical issues on the estimation of LGC are, however, found in KERI's report. Major issues are the estimation of capital cost, the consideration of corporate tax, and the application of economic life cycle in the formulae for LGC. These critical issues are examined and interpreted in a correct way in this paper.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 2011.04a
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• pp.615-618
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• 2011

최근 건설공사에서 많은 물량이 투입되는 기초구조의 자재비 및 원가절감을 위해 여러 가지 기초구조시스템이 개발되고 있으나, 보편적으로 현장에 적용하기에는 다소 무리가 있는 것으로 지적받고 있다. 본 연구는 강판을 ㄷ자형으로 절곡한 기초전단보강시스템을 개발하기 위한 해석적 연구의 일환으로 진행되었다. 현행 전단머리 보강식에서는 기초판에 대한 전단내력 산정을 위한 기준식이 마련되어 있지 않으며 플랫플레이트 슬래브의 기준식에 따르도록 되어져있다. 그러나 기초판은 지반에 지지되는 구조물로 플랫플레이트 슬래브와는 경계조건이 다르다. 따라서 본 연구에서는 지반에 지지된 경우와 플랫플레이트 슬래브와 같이 모멘트 제로지점을 단순지지한 형태로 기초구조물을 모델링하여 해석을 실시하였다. 해석프로그램은 유한 요소기법이 적용된 ABAQUS를 사용하여 두 지지조건의 차이가 구조물에 미치는 영향을 비교분석하였다.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2022.04a
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• pp.210-211
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• 2022

Pruning is the most important work for the growth and aesthetics of street trees. It is also the most actively conducted maintenance work. However, the specifications, application methods, and cost criteria for pruning have not been systematically established. This has recently caused a lot of confusion in the practice of street tree pruning, such as indiscriminate pruning and lack of construction costs. Therefore, this study clarified the contents of work according to the form of pruning. It added 'aesthetic pruning,' which takes into account design. In addition, It revised equipment not in conformity with the law and excluded personnel necessary for on-site traffic control so that they could be reflected separately. As a result, this study is expected to contribute a lot to securing appropriate construction costs for maintaining street trees.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.347-348
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• 2023

In construction sites, small-scale construction quantities or limited work hours below the daily work volume may occur due to on-site conditions. For small-scale quantities, the input of equipment and labor is designed based on an hourly basis in the invoice, resulting in a difference from the actual cost. In this study, we aim to explore solutions from the perspective of construction cost standards to secure appropriate construction costs for small-scale and time-limited construction sites. Firstly, to preserve the basic construction costs on-site, we established standards where half the cost would be charged for construction quantities below four hours and a full day's cost would be designed for construction quantities between four to eight hours. Additionally, realistic construction cost calculation standards are expected to be provided by realizing a surcharge rate for work hour limitations to secure appropriate construction costs.

• Management & Information Systems Review
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• v.35 no.1
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• pp.189-206
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• 2016

It was required to attach the documents on the details of external audit including the number of the participants in external audit, audited parts and audit times under the Article 7-2 on the audit report to the accounting audit report from 2014 in accordance with the amendment to the Act on External Audit of Stock Companies. This study aim to calculate the audit fee based on the estimated cost of service calculation of the government contribution agencies by reflecting the implementation of the revised external audit. This study calculated the audit fee for the target company (a listed company assumed to have no internal control risks and relevant audit risks for unqualified opinion in the previous year, 100 billion won of total amount of asset, manufacturing company in the previous year and preliminary client request) by putting together four items of expenditure including employment costs, expenditure, general management expenses and profit in accordance with the calculation system of cost of service under the State Contract Act. Then, it used the data collected from the documents on the details of the revised external audit after requesting estimation on the target company with the estimated cost to Big-4 accounting firms to identify the participants and times of the accounting audit. The employment costs applied 150% of participation rate of the base price of employment costs for the academic research service cost in 2014, the expenditure used the average value of accounting firms of corporate business management analysis of the Bank of Korea (2013), the general management expenses applied 5% of the general management rate of service business under Article 7-1 of the Enforcement Rule of the Act on Contracts to which the State is a Party and the profit applied 10% of profit rate of service business under Article 7-2 of the Enforcement Rule of the Act on Contracts to which the State is a Party. Based on the calculation of the estimated costs by applying the above, the audit fee was estimated at 50,617,769won. Although the result is not the optimal audit fee, it may be used as a basic scale to compare the audit fees of companies without criteria. Also, such amendment to the Act on External Audit of Stock Companies may improve independence of auditors and transparency of the accounting system rather than previous announcing only the total audit times.

• Journal of Digital Convergence
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• v.10 no.4
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• pp.181-190
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• 2012

Cost of capital is one of the key factors of accounting regulation policy for telecommunication market. This paper aims at investigating efficient policy improvements concerning accounting regulation for telecommunication market focused on cost of capital calculation methods and its application. At First, cost of capital estimating method should be improved. In estimating the cost of equity capital, it is necessary to use benchmark method for Equity risk premium. It will reduce analytical errors caused by a rapid economic change and inflation. It is also more desirable to use debt premium adding method for the cost of debt capital. Optimal capital structure method may be considered a better way to estimates capital structure. Secondly, cost of capital estimating process also has to be reformed. Telecommunication industry changes rapidly so it does not reflect fast environmental changes. Therefore, cost of capital should be calculated every year. Cost of capital should be calculated by individual companies. There is information asymmetry between regulators and regulatees. Because of that cost of capital calculating process takes long time and cost a lot. To solve this problem, regulator should legislate on cost of capital calculation and then regulating companies report the calculating result. Lastly, major telecommunication companies are all listed now and it is possible to calculating it separately. We must continuously improve the estimating method and application of cost of capital and due to the fast growing of telecommunication industry. The process of determining the calculating method must be discussed and best method chosen.

• Korean Journal of Construction Engineering and Management
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• v.22 no.6
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• pp.96-106
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• 2021

The PC structure based on the OSC (Off-Site Construction) is mentioned as a representative method of innovation in the construction industry that converts the existing construction environment from site-centered to factory production-transportation-site assembly. However, recent research on PC method has focused on improving the functions of subsidiary materials and improving the production system to increase productivity and institutional / policy R&D that can be universally applied to the life-cycle stage of ordering / design /construction is insufficient. In particular, the absence of standardized cost calculation standards makes it difficult to calculate and verify of objectified appropriate construction cost. So which is an obstacle to the activation of the PC method. In this study, the standards for construction costs of domestic and foreign PC method were surveyed and similar Construction Standard Production Rates were analyzed to confirm the product structure suitable for PC method. Subsequently, the construction procedures and input resources for each PC subsidiary materials were identified through on-site surveys to derive component for subsidiary materials, and the factors of change in the product according to the construction characteristics(height, weight of subsidiary material) were verified. As a result the standard product calculation system suitable for the site installation of the PC method for apartment was presented.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.8 no.8
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• pp.1802-1809
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• 2004

This paper discusses cost allocation model of common facilities in voice and data traffic of mobile telephone network. There are several methods to be considered including traffic, facility, revenue, Ramsey, and benchmarking in local loop unbundling for High Speed Internet. It is important to investigate the strength and weakness of each method. This paper reviews the theoretical literatures and compares the characteristics of each methodology. Also, case studies are employed to get the implications concerned. As a result, in the beginning, it is desirable to introduce 50:50 allocation method used in local loop unbundling in UK. Then, it is recommendable to apply the ratio allocation method as the quantities of voice and data traffic become equal.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.05a
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• pp.271-272
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• 2021

The maintenance and repair work of sidewalk block pavement is a construction that requires a large amount of budget to be invested every year. It is important to establish an appropriate standards for estimating construction cost to ensure proper budgeting and quality. In this study, the standards for estimating the cost of maintenance and construction work for sidewalk blocks that can be applied to the construction volume classified according to the site conditions, construction type, and equipment use differentiated from new construction was established. As a result, the daily construction volume was presented by reflecting excavator and truck as equipment in the combination of paver and common worker. The re-installation was applied by separating the construction volume of sections with general blocks and induction/raised blocks based on the installation of sidewalk blocks after demolition. Generally if block cutting is necessary, the precision construction conditions using a cutting machine were taken into consideration to secure the construction quality. In addition, it has been revised to apply classified construction volume into A and B-Type depending on the park and site conditions.