• Magazine of RCR
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• v.16 no.4
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• pp.70-73
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• 2021

• Korean Journal of Construction Engineering and Management
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• v.2 no.2 s.6
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• pp.68-80
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• 2001

While opportunities for international construction firms have been growing with globalization, the risk of international construction projects is significantly increasing in severity and complexity. However, the traditional risk management approach in the construction industry has maintained a profit focus. In addition, this approach has not considered the overall risk at the corporate level, but rather has focused only on the risk of individuals at the project level. Corporate risk management should be implemented from the initial stages of new project selection. This paper suggests the Multi-criteria Integrated Systematic Analysis as a strategic decision-making tool for international construction contractors. The model integrates the multi-criteria of risk, return, and efficiency to choose the optimal set of new portfolios at the corporate level. This model also introduces the Value at Risk (VaR) concept to the international construction industry to present the total risk at the corporate level. To validate this model, this paper tested an experimental case study using the historical data of a global general contractor.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.125-162
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• 2003

This paper investigates the short- and long- run relationship among Korean, U.S. and Japanese construction indices. We conducted the Johansen's cointegration tests on the hypotheses that the construction indices of three countries we related in the long-run as well as in the short-run. The test results show that there exists no long-run relationship among three countrie's construction indices. In addition, the cointegrating relation did not exist for three countrie's stock market indices and five major Korean construction firms. It fumed out that the U.S. indices Granger-causes Japanese and Korean indices. This finding implies that there may exist international diversification benefit through forming a portfolio from these indices.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.811-819
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• 2023

Understanding the local conditions is a crucial factor in enhancing the success potential of overseas construction projects. This can be achieved through the analysis of news articles of the target market using topic modeling techniques. In this study, the authors aimed to analyze news articles using two topic modeling methods, namely Latent Dirichlet Allocation (LDA) and BERTopic, in order to determine the optimal approach for market condition analysis. To evaluate the alignment between the generated topics and the actual themes of the news documents, the research collected 6,273 BBC news articles, created ground truth data for individual news article topics, and finally compared this ground truth with the results of the topic modeling. The F1 score for LDA was 0.011, while BERTopic achieved a score of 0.244. These results indicate that BERTopic more accurately reflected the actual topics of news articles, making it more effective for understanding the overseas construction market.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.34 no.3
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• pp.977-987
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• 2014

Since 1960's, international construction market have explosively increase and have reached up to 600 Bil. US$ through active participation of construction firms and steady support of government. Nevertheless, owners, clients and financial institutions required reasonable criteria to effectively assess the overseas business capabilities of construction firms. However, the existing methods for construction firms rarely considers the perspective of overseas business capabilities. To overcome these problems, this study proposes an evaluation system for overseas business capabilities of construction firms. First, the needs for new evaluation system is derived through FGI, and the direction of new evaluation system is presented by reviewing the limitations of existing methods. Also, the capabilities that are required for the performances for overseas businesses were analyzed through expert interviews. Finally, 31 primary evaluation indices consisting of 3 criteria - appropriateness of index, possibility of quantification, possibility of data gathering - are derived under 9 categories and 3 perspectives through surveys and consultation meeting. The preliminary investigation of 24 Korean construction firms are conducted for comparing the existing evaluation systems and to verify its applicability. The proposed method could provide a rational criterion to evaluate the construction firms, improve internal capacity of firms, and ultimately supports the success of the construction industry.

• 월간 기계설비
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• no.2 s.211
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• pp.65-70
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• 2008

두산건설(주)은 1960년 동산토건으로 시작, 해외공사 및 국내 유수의 시공실적과 함께 지난 반세기에 걸쳐 앞선 기술과 품질로 건설산업을 이끌어 왔다. IMF당시 과감한 구조조정을 단행 하였고, 두산개발, 고려산업개발을 인수합병한 후 외형적인 성장 뿐 아니라 내실경영에 만전을 기하고 있다. 또한 시장환경변화에 대한 중장기 성장동력으로 복합개발사업, SOC민자사업, 도시개발사업 등 디벨로퍼(Developer)형 사업확대를 중점적으로 추진할 계획이며 이 중 복합개발사업은 후발주자로 시장에 진입했지만 지난해 1조3,000억원의 물량을 확보하는 등의 성과를 거둬 앞으로의 사업전망이 밝을 것으로 예상하고 있다. 두산건설(주)은 최근 부산 해운대에 아시아 최고 높이인 80층 주상복합아파트를 분양함으로써 초고층건물 시장에서의 입지를 다지고 있다.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.137-148
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• 2019

Many construction developers have tried to develop the international PPP (Public-Private Partnership) projects but frequently failed to gain loan investor approval from loan investor. Many of these failures were caused by the risk attitude gaps among project stakeholder. This study aims to compare the risk attitude between the construction investor and loan investor. This study investigated how much differently 21 construction investors and 21 loan investor recognize the risk magnitude corresponding to the same three risk status of 27 risk factors. Construction investors show a more risk-seeking attitude than loan investor in 58 of 81 risk status. Loan investors show a more risk-averse attitude than construction investors in 9 risk factors. These results will contribute to developing the successful PPP project by reducing the risk perception gap between construction investors and loan investors.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.71-81
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• 2014

As domestic construction investment has been gradually reduced, the issue of expanding overseas CM market has increased. Strengthening CM capability from the view point of project life-cycle is required in overseas CM market. However, current regulations institutionally force public CM services to focus on the construction phase. Therefore, Korean CM firms can hardly have the opportunities for accumulating technical competitiveness especially for pre-construction phase. Result of this study shows that the total efforts in terms of man-hours for the construction phase is found to be more than 78 percent in domestic public CM projects. In this context, this study proposes the policies and tasks for improving 'rigid man-hour placement', 'unreasonable CM fee standards', 'CM firm selection method', 'unreasonable business scope decision', and 'evaluation of owner's project management capability' in order to improve domestic CM Industry as well as to expand overseas CM market successfully.

• The Journal of the Korea Contents Association
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• v.18 no.6
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• pp.144-154
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• 2018

While the local construction market has lost its steam in recent years, it is discussed that the overseas construction projects should be activated by using the Official Development Assistance (ODA) in terms of finding a new way. This study empirically identifies the relationship between ODA and the foreign construction orders, and discovers the effectiveness of orders for overseas construction projects using the ODA. Therefore, based on the past 25 years of time-series data on Asia, the VECM model was used to identify the relationship between the Asia country's ODA and construction orders. As a result, it has shown a lower-than-expected correlation between the value of ODA and the construction orders. There are several reasons for this; This is because profit-purpose construction projects and ODA for public welfare are fundamentally different, and the timing of ODA applications and overseas construction orders are different. Also, compared to other developed countries, Korea has far less experience and scale of ODA. At last, there are huge differences in the size of ODA and construction orders. In conclusion, although the effectiveness of overseas construction orders based on ODA was not clearly disclosed, the significance of this study is that it attempted to conduct a empirical study on the relationship between ODA and overseas construction orders. Further relationships are expected to be drawn through the accumulation of future ODA experience and the supplementation of time series data, which can provide on a theoretical and practical basis.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.519-522
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• 2007

China infrastructure construction market has huge potential for increased use of PPP/BOT mode and one of the most attractive markets of doing business. However, there are still a multitude of challenges for overseas EPC contractor to enter into the China PPP/BOT market both internally and externally. Especially, the construction legal system and relevant policies are considered at present the biggest barriers in accessing China construction market. Therefore, the main purpose of the paper is to identify the impact of the construction laws, regulations and BOT-related policies on the viability of foreign contractor-led BOT project in China. To the satisfaction of the purpose, this paper will first analyze China construction laws based on the key issues that must be tackled by foreign EPC contractor before they enter into China. This summary gives the possible contract scheme for a BOT project of interest in which foreign contractors could define the scope of works and measure the viability of the project. Finally, a case study of wastewater treatment plant BOT project in China subsequently illustrates some of the lessons learned from the foreign contractor's perspectives for successfully participating in future environmental market in China.