• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.50
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• pp.215-250
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• 2011

Korean won overseas construction projects worth 71.6 billion US Dollars in 2010, which exceeded that of 2009 by 45.6%. An overseas construction project is a transaction of large scale, long term project, many parties participating, deferred payment, and of high-technology. It contributes to foreign currency earning, and also leads the nation's export restructuring work towards high value-added one. There are various kinds of risks towards the relevant parties respectively, which are key elements in successfully performing the overseas construction project. There are completion risk, financing risk, operating risk, revenue risk etc, in an employer's place. A contractor may be confronted with payment risk, issuance risk of performance bond, financing risk, performance risk of sub-contractors, and exchange rate risk. In lenders place there are repayment risk, completion risk, and political risk in the host country. In order to mitigate risks, the parties shall take relevant measures or require relevant securities. A contractor needs to evaluate the credibility of an employer in respect of payment risk, and can also request export insurance cover by the Korea Trade Insurance Corporation(the former 'Korea Export Insurance Corporation"). An employer can require a contractor to provide performance bond in respect of completion risk, and employ a well-known first class bank as a mandated arranger to arrange financing with regard to completion risk. Lenders needs to evaluate the credibility of an employer and accomplish feasibility study of the project. Lenders can request insurance cover from export credit agency. Once the parties assess the respective risks and obtain relevant securities, the project will be successfully completed. The success of the project will be sure to bring the parties involved enormous profits and another opportunity to participate in overseas construction project afterwards.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.5D
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• pp.695-703
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• 2008

China water market has huge potential for increased use of BOT mode and one of the most attractive markets of doing business. However, the current China water BOT market shows that many foreign companies are retreating from the market while Chinese water companies fast growing. From the view no domestic companies have track records in China BOT water market, the research identified twenty market access barriers in terms of construction laws, regulations, BOT-related policy and the recent market situation. These are evaluated based on interview results with 10 professionals direct or indirect having a China water BOT experience. All the factors are found to be highly influential to foreign company's decision on the market participation. Among those, no fixed return policy and low water price, difficulty in water price adjustment and approval, and no government guarantees, all directly related to the project viability and under the control of government, were the most critical factors, implying government's role is the key in increasing the market competition by attracting more foreign participation on the market. In addition, new construction law regulating foreign EPC contractor's construction work, namely Decree 113, and requirement of applying competitive bidding in selecting EPC contractor in a BOT project are also considered signigicant barriers on foreign participation, which contradicts international norm and therefore necessitates an adjustment on current decision process in domestic companies.

• Korean Journal of Construction Engineering and Management
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• v.8 no.4
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• pp.90-98
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• 2007

Although the construction industry has been rapidly increased at its size and technologies as a locomotive of the economy development in Korea, most construction companies have not paid their attention on the construction risks seriously. However, they have been experienced a lot of business deterioration and project instability during the IMF crisis and WTO entry, and trying to figure out a way to manage the construction intrinsic risks systematically. Some top ranked construction companies have already developed and been implementing a risk management system for the oversea construction projects applying for the marketing and bidding stage, but not for the domestic construction projects during construction phase yet. This paper proposes a construction risk management system model for the site personnel to understand and manipulate very easily in the construction project.

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

• 대한공업교육학회지
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• v.36 no.2
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• pp.257-272
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• 2011

The field of Construction Engineering leads 1970's industry of the Korea. As a result of development of construction technology, It secure national competitiveness winning overseas contracts many kinds of plant, building and so on. In this situation, it is the most important task to cultivate and select construction teacher to train construction education and to foster construction skilled workers be going into the field of construction. This Study attempts to offer useful implications about the improvement of the Teacher Certification Examination through analyzing that will have a strong influence and be a standard in educational direction to cultivate construction teacher.

• Korean Journal of Construction Engineering and Management
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• v.8 no.4
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• pp.81-89
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• 2007

Plant industry is one of important industry that possesses 70% of fund in construction contracts for oversea customers at 2004. It is called E(Engineering), P(Procurement), C(Construction) industry. Plant industry of Korea has a competitive power of the detail design and operation for the establishment construction. But among E, P, C at plant industry, technic of E part which is able to make higher profits; Planning and basic designing; are poor. They should have much more improvements. Thus to enhance a competitive power of planning and basic designing, we are going to analyze problems of utilizing a standard code for plant design and present plans for their improvements.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.6
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• pp.1021-1028
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• 2018

As entering the international construction market became more difficult than the past, ODA projects can be a breakthrough for domestic engineering companies to enter the international market. However, since many companies compete for limited projects, it is necessary to reinforce the competitiveness of bidding success. The competitiveness is the result of accumulating experience, reputation, and networking through partnering. Therefore, depending on which partnering strategy has been taken over a long period, the bidding success is decided. The objective of this study is to identify the effective partnering strategy for bidding success. For this, the World Bank bid results, focusing on consulting projects in Vietnam, are collected. Using the bid results, inter-firm network representing the partnering relationship is constructed and the Social Network Analysis is conducted. After then, by conducting the Logistic Regression Analysis, effective partnering strategies are suggested. The result shows that the diversification strategy is advantageous for transportation and city development projects and the concentration strategy is advantageous for water projects. The partnering strategy for the consulting project proposed in this study will be used as a reference for the domestic engineering companies to enter the Vietnam construction market in the future.

• Korean Journal of Construction Engineering and Management
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• v.6 no.1 s.23
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• pp.89-98
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• 2005

Recently the construction industry in Korea is facing problems such as low productivity, contraction of the domestic construction market, growing competition, and so on. To enhance the competitiveness continuously through efficiency in this business environments, construction companies need to make efforts to measure and accumulate performance data based on the strategic factors. When analysing performance of construction projects, the unique characteristics of each project should be considered properly, by which the managers can identify current status of project in various perspectives. This study proposes the performance analysis system using the concepts of balanced scorecard and data warehouse technology. The suggested system provides the management with the flexibility in analyzing performance data by applying the pre-defined key performance indicators and the function of multi-dimensional analysis.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.167-172
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• 2006

It follows recently in an order augmentation of overseas construction market plant field and the project of oil gas field is increasing. Consequently, the hazard which secures the competitive power of the overseas plant enterprise of the domestic building industry enterprises the technical competitiveness security which stands, productivity improvement and strategy management propulsion back positive disposal plan establishment are demanded. Even from in that oil gas field of overseas plant enterprise for an industrial competitive power improvement the application of EPC circulation information which relates with a project accomplishment is more demanded, the EPC phased star efficiently it manages the circulation information contents which occurs from the business which is various it is not presented it cannot there is a contents classification system for. If with him about lower the draft the problem point of information omission back of occurrence and business subject for of the fringe land and duplication business occurs, about lower the productivity decrease actual condition is appearing with such problem point. The research which it sees consequently in order to improve the use characteristic of the augmentation of practical application of the contents management system of oil gas field and building industry information civil official establishhes the contents management system the BPM for (Business Process Management) to present the contents classification system of base, it does to sleep. The part of Business Process materiality the knowledge which is demanded, contents information and system anger it analyzes system anger of industrial equipment circulation information it takes a triangular position and to sleep it does.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.273-276
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• 2007

Construction work has character which claim or dispute is frequently raised. This means that each construction project has it's own contract documents due to the difference of environment and time. Therefore to overcome the associated risks, domestic contract rules and acts should be reformed. Several well-recognized contract documents developed by FIDIC, AlA, CMAA and general conditions of the contract is investigated and analyzed. Based on the research outcomes the direction of reformation is suggested.