• Korean Journal of Construction Engineering and Management
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• v.17 no.4
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• pp.3-11
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• 2016

Recently, overseas plant orders of domestic enterprises are steadily increased, and the amount of orders in the first half of 2014 were 93% increased compared to the previous year. In addition, now which is the third quarter of 2015, overseas plant orders are already over 249.8 billion dollars so the interests of plant industry research has been increased. In the life cycle of the plant project, CM before the construction stage is to complement the uncertainties that are inherent in the early stages of the project, and from the viewpoint of supporting the rational decision-making, the importance of its role is on the rise. Among them, excavating and investing participation plan in the planning stage is an important work that has a large impact force to influence the success and failure of future project. However, the work has become a problem with frequent consultations due to decision-making, continuous modification, and inefficient repetitive tasks. Therefore, it is needed that work process should be changed to effectively accommodate. The purpose of this paper is to derive the major work items for excavating and investing participation plan in the planning stage of the plant project, and establish a standardized work process through the Delphi analysis. The result of this study is expected to be utilized for EPC companies in ensuring the technical competitiveness in planning on overseas markets, and improve the efficiency of work.

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

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.213-220
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• 2006

Plant construction industry is a high value-adding industry because it is complex industry comprising engineering, procurements of equipments and construction. So, Revenue increase in overseas plant projects would boost up not only domestic construction industry but also growth of national economy. Recently, overseas plant-construction market is expanding dramatically. For instant, Middle-east countries are constantly increasing their orders for the construction of petro-chemical plants stimulated by sky-rocketing oil prices. The purpose of this research is to develop management techniques for plant projects such as work break-down structure, knowledge management system, logistics & procurement system, and risk assessment tools. We believe our research would contribute to the competion of Korean engineeing companies and contractors in overseas plant-construction market.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.204-209
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• 2006

Despite the recent depression of the construction industry, overseas plant market especially Middle East plant market is booming owing to the high oil price. Since many Middle Eastern countries are placing orders of big scale projects based on the high oil price, Korean EPC contractor are trying to get over the depression through theses plants. Presently, since the plant market is in prosperous condition in general, it is not hard to get overseas orders; however the original licenses that requirehigher technology and high added values are exclusive for advanced engineering companies which great difficulty is predicted for developing countries like us to join the crowd. Therefore, the objective of this study is to propose establishment of material management system on the filed to gain optimized effect of material management in connection with procurement system that all the procurement related personals execute tasks in advanced level by systemizing the task operation within the knowledge and task ability in time for plant construction procurement as a method to strengthening the competitiveness of Korean companies.

• Plant Journal
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• v.11 no.1
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• pp.39-49
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• 2015

The objective of this study is to improve the classification structure of commodity code for piping material management which is considered as the fundamental of commodity code and piping material management system. It enhances the efficiency of piping material management directly or indirectly affecting the engineering, procurement and construction in a petrochemical plant projects. To establish an improved code classification structure, this study identifies the problems of former code classification structure in details, as well as the characteristics of other domestic and global EPC company's code classification structures and presents the improved direction considering the recently mega-sized and specialized projects. Accordingly, to efficiently enhance piping material management, the improved code classification structures have been derived from defining suitable code classification structure for specific piping component, adding more standard attribute, expanding the number of code digits and classifying code hierarchy. The results of applying the improved classification structure of commodity code to on-going project have led to reduce the rate of rework from 4.98% to 2.48% for developing purchase description and also have saved working time for executing piping design by 3D modeling from 6 months by two persons to 4 months by a person which is decreased 67% consequently. In addition, the structures of pyramid code management have resulted to accumulation and analysis of the various piping data for other disciplines such as procurement and estimation team which require commodity code information through the company's material control system.

• Korean Journal of Construction Engineering and Management
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• v.14 no.5
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• pp.84-91
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• 2013

In 2012, Korean overseas construction market has achieved 64.9 billion dollars of contract order and its amount has increased since the mid 2000's. However, importance of qualitative growth based on profitability as well as quantitative growth is also emphasized. This study analyzed overseas plant project's subcontract process management which is closely related to cost management as one of the qualitative growth methods. In order to select major subcontract processes, extensive literature review and focus group interview(FGI) were implemented and then professionals with years of experience in the overseas plant projects were participated in the questionnaire survey. The collected data were analyzed by Benefit-Structure Analysis(BSA) model. The findings of this study include: (1) the seven and six subcontract processes are positioned in the area of importance control factor and in the area of maintenance/control factor, respectively; (2) administration capability attainment is needed for the six subcontract processes in the area of importance control factor and sustainable management system is required for the processes in the maintenance/control factor area. The further research will identify key subcontract processes to be managed for overseas plant projects by Korean EPC contractors based on the findings of this research.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.20 no.1
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• pp.1-9
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• 2020

In highly complex EPC(engineering, procurement, construction)-based manufacturing processes such as shipbuilding and marine plants, it is essential to prepare a way to enable organic working at the site referring to each other's detailed working data for collaboration between partner companies. However, companies cannot share the progress of the sites including working information in real-time due to the use of SW unique to each company and the complex site management system. As a result, the construction process is delayed, and resources are used inefficiently. This study developed a neutral data generation algorithm that can apply the working information in various file formats to a collaborative manufacturing process. In addition, this study verified the accuracy of the algorithm by applying the developed algorithm to the manufacturing process of piping in shipbuilding and marine plants, developing the SW for visualization of working information using the generated neutral data, and comparing the coordinate, shape & dimension and the kind, number, and spec. of BOM. The result confirmed that the accuracy of the coordinate of the neutral data was 99%, and that of the shape & dimension of the neutral data and BOM Spec. was both 100%. It is thought that this study can be used for overcoming the restrictions in information sharing due to the development of informatization at companies and maximizing the share of working file information in a complex manufacturing process.

• Journal of Digital Convergence
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• v.16 no.6
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• pp.75-84
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• 2018

Although many logistics companies are interested in project logistics, the existing research has been limited to the growth potential of project logistics market and the high barrier and importance of project logistics. This study analyzes using DEA the operational efficiency of forwarding companies registered in major overseas construction EPC companies and performing logistics services for overseas plant construction projects. For efficiency analysis, Super-SBM analysis and Malmquist analysis are used among DEA analysis techniques. As a result of the Super-SBM analysis, DMU 5 ranked first at 1.807. DMU 5 is more efficient than the other large corporations because it has the stable supply of its parent company H and the smallest input and output variables among the large corporations. As a result of Malmquist analysis, TCI, which is a technological development, showed a fluctuation while TECI showed a relatively stable variation. In addition, there is a difference in scale between major companies and small and medium sized companies. So, it is necessary to identify the efficiency improvement strategy for each group and apply it to the practical work.