• Korean Journal of Construction Engineering and Management
• /
• v.13 no.2
• /
• pp.70-79
• /
• 2012

The Korean Government recently has been focused on strengthening competitiveness of order and stimulating construction market in the international construction industry. It has planned to extend the ODPs (overseas development projects) in order to diversifying the international construction market of which is domestic construction companies, placing too much emphasis on plant projects of the Middle East. However, literature review of risk analysis in the ODPs shows that the number of case study is several. Therefore, Authors asserted the necessity of risk analysis in the ODPs. The purpose of this study is to suggest a methodology that find KRFs (key risk factors) in the ODPs and analyze them, using AHP and Fuzzy theory. As a result, the 37 KRFs are selected and explained characteristics of them. A future direction of this study is to suggest a risk management model in the ODPs and prove feasibility of it.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2007.11a
• /
• pp.513-518
• /
• 2007

Domestic construction companies are interested in finding a larger market abroad because of declining the amount of orders placed and competing the amount of orders received. Recently, the Development project including the finance offer by builder is becoming more common and broad in the flow of the world market in construction from underdeveloped countries to the advanced countries. If the construction companies revitalized because of being active in the Middle East market don't appropriately cope with the situation, they will be probably depressed. The support policies helped revitalization of the development project are examined in this study. The purpose of this study is basic data how to be influenced by the situation of market abroad, policies revitalized development project and extending market. The policies revitalized development project and the relationship of many variables near the market abroad are analyzed applying the System Dynamics as hopeful market abroad which have a circumstance finding a larger market.

• Proceedings of the Korean Society for Technology of Plasticity Conference
• /
• 2003.10a
• /
• pp.17-17
• /
• 2003

1960년대 경제개발 5개년 계획의 시작과 함께 우리나라 과학기술의 발전을 위한 투자가 본격화되었고, 과학기술 혁신이 정부정책의 가장 중요한 시책으로 부각되었다. 지난 40 여 년간 우리나라 과학기술은 선진기술의 모방에서 출발하여 효율적으로 단계별 성장을 거치면서 2000 년대에는 세계수준의 지식 및 기술을 창출할 수 있는 토대가 마련되었다. 본 발표에서는 한국과학기술의 현주소와 향후 전망을 분석하여 국내 연구개발의 방향을 조명해 보고자 한다. 1982년 특정연구개발사업을 시작으로 국가적 차원에서 목표설정 및 연구개발 자원을 전략적으로 집결하여 다양한 국가 연구개발 사업들이 수행되어 왔다. 그 후 20여년이 지난 현재 20개 부처에서 200 여개의 국가 연구개발사업이 추진되고 있으며, 이러한 연구개발사업의 성과로서 DRAM, TFT-LCD, CDMA 등 첨단 분야에서 세계 최고 수준의 국제경쟁력을 갖춘 기술들이 다수 확보되었다. 주력 산업인 IT산업, 자동차, 철강, 조선, 섬유 등도 기술혁신에 의한 국제 경쟁력 강화로 수출이 확대되면서 우리 경제의 견인차 역할을 하고 있다 최근 10년간 연구개발 투자규모는 3배 이상 증가하여 2000년 기준으로 세계 8위의 투자규모를 달성하였으며, 민간의 연구개발 투자 비중도 크게 늘어나 민간주도형 연구개발체제로 전환되게 되었다. 2001년에 이르러서는 총연구비 투자규모가 15조 이상으로서 이는 전체 GDP의 ∼3% 에 해당되는 수치이며 선진국 수준에 육박하고 있음을 짐작 할 수 있다. 지식기반사회를 선도하여 국가 경쟁력을 높이기 위해 정부는 연구개발 투자를 계속 확대할 정책을 시도하고 있으며 창의적 과학기술인력의 양성 체제 구축 및 효율적인 활용에도 적극 투자하고 있다. 과학기술부는 과학기술혁신의 중추적 역할을 담당하고 있으며 현재까지 20,000여개이상의 과제를 수행하여 국가경쟁력 강화에 크게 기여하여왔다. 정부는 국내외 과학기술 환경변화가 심한 21세기를 맞이하여 새로운 기회와 도약을 위하여 과학기술 중심국가 건설이라는 새로운 비전을 제시하게 되었다. vision 2025를 통해 2025년까지 21세기 첫 4반세기 동안 과학기술 경쟁력을 세계적인 수준으로 끌어올려 과학기술에 기반을 둔 선진국 진입을 실현하고자 다양한 정책적 대응을 물색하고 있다. 세계 시장규모, 전략적 중요성 등을 토대로 한 10대 산업을 육성하기 위하여 과학기술부는 기술수요조사를 바탕으로 49개 주요기술을 도출하여, 과학기술 일류 국가 실현, 국민소득 2만불 달성이라는 국가적 슬로건을 내걸고 “차세대 성장동력” 창출을 위한 범정부차원의 기획과 연구비의 집중투자를 추진하고 있다.

• KDI Journal of Economic Policy
• /
• v.33 no.4
• /
• pp.143-177
• /
• 2011

Upon selecting preferred bidder in Public-Private Partnership projects, multi-dimensional procurement auction, where price factor and non-price factor are evaluated, is used. This paper tries to analyze bidding data in BTO road projects. It is shown that a winner tends to get higher score in bidding evaluation, which is partly due to increase in base score as well as fiercer competition among bidders. It turns out that score margin in non-price factor was determinant in selecting winner. Also, there was no competition when the level of bonus point was set too high. For price factor, it costs 730 million KRW per score in construction subsidy by government, while it costs 2.43 billion KRW per score in toll revenue. For non-price factor, it was estimated to cost 2.30 billion KRW. Based on the results, it was suggested that we should have appropriate level of bonus point for first initiator, change in scoring rule in construction subsidy part, adjustment of base score in evaluation.

• KDI Journal of Economic Policy
• /
• v.35 no.3
• /
• pp.1-38
• /
• 2013

This study investigates the welfare implications of BTL projects using a general equilibrium model with the public sector and public-private partnerships. We show that when the government is not allowed to run budget deficits but private firms is able to overcome the financial constraint, BTL projects performed by public-private partnerships (PPPs) could be a good alternative and improve the welfare of the model economy. This paper quantitatively investigates excessive expansion of PPP projects and several alternatives to retrieve welfare losses caused by such an expansion. Assuming that future rents of BTL projects are not taken into account, we find the welfare losses up to 20 percent relative to conventional government projects. Finally, we show that it would be possible to reduce the losses by transforming the fully depreciated capital stock of the government projects into much smaller new PPP projects.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.13 no.12
• /
• pp.6128-6134
• /
• 2012

In so many real estate development projects, there were strong needs to have a powerful tool to check feasibility of those projects. But there were not enough tool and measure to cover risk of real estate development and construction. Therefore I tried to find a real tool to measure investment value of development properly and efficiently, by means of case studies of many real estate development projects. Finally I found a fact that no tools of investment value analysis are perfect and efficient to hedge all kinds of risks in projects. Especially NPV(Net Present Value) and IRR(Internal Rate of Return) were not sufficient by themselves to measure investment value. So I found out that MIRR(Modified IRR), XIRR(X-IRR), ARR(Average Rate of Return), PP(Payback Period) and so on, would be supplementaries of proper and efficient investment value analysis.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.32 no.5D
• /
• pp.493-498
• /
• 2012

Korean construction companies have maintained stable market share based on high technology and cost competitiveness although international construction market has been stalled due to increasing global economy uncertainties. However, Korean construction companies have relied heavily on the general types of projects in Middle East and Asia although the portion of different types of projects such as Build-Transfer-Operate (BTO), Build-Transfer-Lease (BTL), and Public-Private-Partnership (PPP) has been increasing in the market. When delivering huge projects requiring contractors deal with activities from project planning to operation, securing finance sources and profitability is deemed critical. Therefore, Korean construction companies need more attentions on the construction market supported by Multilateral Development Banks. However, Korean construction companies have not utilized effective strategies for the market entry and also government supportive policies are not useful enough to help construction companies. This study aims both to analyze the contract structure of Korean construction companies for presenting critical factors that need to be prepared and to suggest various methods that can be applied to support construction companies that have much interest in the Multilateral Development Banks. According to the results of study, it is important that Korean government provide structural information system, make a specialized organization, prevent over-heating among Korean construction companies, and collaborate with Official Development Agency. In addition, it appeared that the fairness and financial stability of project have recognized main advantages of the Multilateral Development Banks.

• Journal of the Korean Geographical Society
• /
• v.49 no.3
• /
• pp.357-370
• /
• 2014

This paper aims at analyzing the use of REITs for developing student housing. To do this, firstly, the case studies of student housing REITs in U.S. are analyzed, and secondly, possibility and schemes of using REITs in Korea for the expansion of student housing. REITs are actively participated in the investment and management of student housing in U.S. and they are vertically integrated real estate investment operating companies which play a role of design-development-investment-managementconsulting. Student housing REITs can be fully used in Korea. To do this, special strategy integrating investment and management strategy should be examined. In these context, joint-venture model and PPP-conbined model are suggested to use REITs effectively.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.37 no.2
• /
• pp.427-435
• /
• 2017

Korea's overseas construction awards reached US $750 bn for more than 50 years since it first entered the market in 1966. In particular, the company won US $540 bn over 10 years from 2007, achieving 72% of the total contracts. However, in recent two years, awarded amounts have decreased by 40% each year. The most significant decline is due to the impact of international oil prices, which have plummeted since end of 2014, as oil-producing nations, which are Korea's major target countries, are struggling to cancel or postpone infrastructure orders. In order to lessen the impact of raw material price fluctuations, the recent trend is that even countries with relatively loose government financing conditions are rapidly changing their ordering methods to investment development forms such as PPP. The Korean government and companies have been already preparing for this for several years, but they are still not doing so well. The main reason is the lack of understanding about the investment development type project, especially financing methods and the aggravated fear of exposing it to various risks due to the characteristics of the development project, which takes a long time to collect the investment. In this paper, I propose a more systematic solution to financial process and risk management, which is recognized as a obstructive factor for Korean companies, in line with the recent government-led establishment of overseas infrastructure development support organizations. I would like to serve as a investment guide.

• Plant Journal
• /
• v.11 no.1
• /
• pp.30-38
• /
• 2015

This study is about whether the new Project Finance scheme called "Asset Backed Short Term Bond(ABSTB)" with Project Finance Guarantee Cover provided by Korean Exim Bank(KEXIM) is an appropriate and valid financing structure, through close examinations on domestic and overseas IPP case studies. This study clearly indicates that (i) the interest rate of ABSTB with KEXIM's Project Finance Guarantee is relatively more competitive than the interest rate of other ABSTB guaranteed by EPC Companies (ii) the lower credit rated EPC companies make higher ROE(Return on Equity) through this financing structure. Lastly, Korean EPC Companies can secure profitability through this innovative financing scheme which will also lead to winning more power plant Contracts and become globally competitive.