• Journal of the Korea Institute of Building Construction
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• v.8 no.6
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• pp.155-160
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• 2008

The BTL project, 4 years since its operation. has benchmarked the PFI Project in Japan and has been introduced. Given the evaluation step to select a preferred bidder, in a technological factor, the basic plans are corrected and complemented, whereas in a price factor, the low price bidding system is being enforced. There is concern that how to select preferred bidders and how to operate project costs during operation and management period may be problematic. Thus, in this study, using the Analytic Hierarchy Process, the method of deciding the priority to select preferred bidders in an early stage of the project and the evaluation model to evaluate the validity of BTL project expenses in process of project enforcement are established. Targeting the group composed of experts who have experiences in the BTL project. Then, the levelling of evaluation factors and grouping have been carried out as following : LCC analysis and disbursement for government including two more detailed factors.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.2
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• pp.233-250
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• 2008

This paper aims to analyze the characteristics of BTL, and to propose the effective models connecting BTL and project finance, through the analysis of current state and case study of BTL. The main results of this study are as follows. Firstly, BTL business have been increasing fast, and most of projects are middle size projects below 100 billion Won. Nextly, key suggestions for improving BTL business model are analyzed, which are, first, risk allocation between public and private interests, second, improvement of method for selecting private investment consortium, and third, alleviation of long-term burden of local finance. Finally, effective models for connecting BTL and project finance, which are, first, model for using asset backed securities, second, model for dividing project corporations into construction corporation and operation corporation, and third, model for risk allocation between public and private interests.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.686-691
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• 2006

Beginning January 2005, the BTL (Build-Transfer-Lease) project was initiated by government to provide high level of public services for the upgraded quality of life. The most important process of the BTL project is operation, because the company have to operate the building about $20{\sim}30$ years after completion. But a lot of problems have been founded so far. For example, no counterplan for the risk in operation, no total control system and the vagueness in project guideline and so on. These problems will cause serious demage to the BTL project. Hence, this paper analyzes the above issues and conducts the interviews with the professionals from the diverse sectors in order to propose the improvement and deliver the successful operation in BTL project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.905-908
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• 2008

The BTL project, 4 years since its operation, has benchmarked the PFI Project in Japan and has been introduced. Given the evaluation step to select a preferred bidder, in a technological factor, the basic plans are corrected and complemented, whereas in a price factor, the low price bidding system is being enforced. There is concern that how to select preferred bidders and how to operate project costs during operation and management period may be problematic. Thus, in this study, using the Analytic Hierarchy Process, the method of deciding the pribrity to select preferred bidders in an early stage of the project and the evaluation model to evaluate the validity of BTL project expenses in process of project enforcement are established. Targeting the group. composed of experts who have experiences in the BTL project. Then, the levelling of evaluation factors and grouping have been carried out as following: LCC analysis and disbursement for government including two more detailed factors.

• Proceedings of the KAIS Fall Conference
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• 2009.12a
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• pp.398-401
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• 2009

민간 주도형 사회간접자본 (social overhead capital :SOC) 사업은 BOT(build-operate-transfer)를 비롯하여 대상 프로젝트의 정부 정책 등의 여러 환경의 변경에 따라 다양하게 변형되어 적용되어 BTL(build-lease-transfer), BOO (build-own-operate)등의 여러 기법들을 사용된다. 민간 SOC 사업은 프로 젝트의 규모와 장기에 걸친 공사의 불확실성 때문에 프로젝트의 경제성 분석을 하는 것은 복잡하다. 일반적으로 사용하고 있는 현금흐름 할인모형(discount cash flow model; DCF)은 미래의 불확실성 변수들을 적절히 반영하지 못한다는 한계점을 가지고 있지만 현실적으로 많이 쓰이고 있는 방식이다. 본 논문은 옵션기반모형에 근거한, BOT-옵션가치평가(BOT-OV)모형을 국내 민간 SOC 사업의 경제성 분석을 위해 적용한다. BOT-OV모형을 적용하는 것이 기존 순현재가치(net present value; NPV)방식을 통하여 프로젝트 가치 평가 할 때보다 더 정밀한 경제적 타당성 평가를 할 수 있다는 것을 확인하여 기존의 NPV 평가방식의 방법을 대체할 수 있는 가능성을 확인하는데 의의가 있다고 할 수 있다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.471-474
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• 2008

The range of PFI project has been expanded from Road facilities, Hobor facilities to Education facilities, Military residence facilities since 2005. Especially, The dormitory project that one of the most lucrative facilities among education facilities was progressing but it has many problems with introducing PFI project. This object of research is deriving problems by introducing PFI project and solving problems by consulting with experts. The results of research have had problems that increasing rental fee, difficulty of retrieving the investment and shortage of government supports. The solutions concerning the problems are using organization, introducing various programs and relieving regulation of government. This paper was made by consulting with experts and is expecting to use the basic data when comparing and analyzing the cases used PFI.

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