• Title/Summary/Keyword: Overseas construction

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A Comparative Study on the Nominated Subcontractor (NSC) System of Building Construction Project in Asian Commonwealth of Nations - Focused on the NSC Clause Analysis of Standard Contract Forms - (아시아 지역 영연방국가의 지정하도급(NSC)제도에 관한 비교 연구 - 표준계약약관의 지정하도급자 항목분석을 중심으로 -)

  • Cho, Jaeyong;Kim, Junggon;Park, Hyeonggeun
    • Korean Journal of Construction Engineering and Management
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    • v.15 no.3
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    • pp.12-22
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    • 2014
  • In recent, many Korean contractors have tried to extend their business area into the overseas construction market, mainly as a result of a reduction in their domestic construction market. However in terms of risk, overseas construction projects are likely to face a number of unpredictable problems, many of which occur as a result of differences in contract cultures and construction environments between Korea and other countries. One key issue facing overseas construction projects in particular, is that of sub-contracting and control, and the way in which many countries of Commonwealth of Nations operate a unique subcontracting method well known as a nominated sub-contractor(NSC). This paper introduces the NSC system and differences as comparing among standard construction contract forms, such as JCT, SIA, HKIA and PAM. in UK and Asian Commonwealth of Nations. Also, we attempt to classify the type of the NSC system through the consideration of NSC clauses in accordance with the objection and termination of NSC contracting respectively.

A Case Study on Value Improvement through applying VE Method in Stage of Railway Construction (시공 VE기법을 적용한 철도구조물의 가치향상 사례 연구)

  • Cho, Ki-Yon;Park, Mi-Yun;Kim, Sung-Hun;Seo, Jong-Won
    • Proceedings of the KSR Conference
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    • 2008.11b
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    • pp.23-29
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    • 2008
  • Most VE operation related to construction project is progressed in stage of planing or design phase, especially in case of domestic. It is encouraging fact and if you have VE process in stage of planning and design, you'll have experience a reduction of about 70% of total saving cost in which total construction process may occurred. However, recently the work of construction in overseas increase and almost is only construction-work, except planning and design process. As this reason, VE process for construction-work phase only is demanded in high necessity. VE in construction phase comes to accomplish intensively in the part which the design change does not follow, through know-how, equipment operating method and method of temporary-structure erection at the established construction-site learned, builders will be the possibility of reduction from 3% to 10% in constructive expense. This paper describes VE performing example in OO company's construction-work phase, and propose the methodology of VE performance in the phase of construction. And also it is aimed to extending VE applications into the overseas construction enterprise.

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Evaluation of Topic Modeling Performance for Overseas Construction Market Analysis Using LDA and BERTopic on News Articles (LDA 및 BERTopic 기반 해외건설시장 뉴스 기사 토픽모델링 성능평가)

  • Baik, Joonwoo;Chung, Sehwan;Chi, Seokho
    • 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.

Construction Bid Data Analysis for Overseas Projects Based on Text Mining - Focusing on Overseas Construction Project's Bidder Inquiry (텍스트 마이닝을 통한 해외건설공사 입찰정보 분석 - 해외건설공사의 입찰자 질의(Bidder Inquiry) 정보를 대상으로 -)

  • Lee, JeeHee;Yi, June-Seong;Son, JeongWook
    • Korean Journal of Construction Engineering and Management
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    • v.17 no.5
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    • pp.89-96
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    • 2016
  • Most data generated in construction projects is unstructured text data. Unstructured data analysis is very needed in order for effective analysis on large amounts of text-based documents, such as contracts, specifications, and RFI. This study analysed previously performed project's bid related documents (bidder inquiry) in overseas construction projects; as a results of the analysis frequent words in documents, association rules among the words, and various document topics were derived. This study suggests effective text analysis approach for massive documents with short time using text mining technique, and this approach is expected to extend the unstructured text data analysis in construction industry.

A Study on the Effect and Improvement Direction of the Credit Rating of Large Construction Firms by the Reinforced Real Estate Regulations and the Raising of the Base Rate (정부 부동산규제 강화와 기준금리 인상이 대형건설사 신용등급에 미치는 영향과 개선방향에 관한 연구)

  • Lee, YunHong
    • Korean Journal of Construction Engineering and Management
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    • v.19 no.1
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    • pp.90-102
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    • 2018
  • In preparation of the increase in the domestic debts and the rise in the US interest rate, the Korean government has started to strengthen the regulation on the property market since 2017. So, it is likely that the sales in the domestic construction market would be decreased. Even in the overseas plant projects market, as there has been the continuous increase in the cost and the resulting increase in the losses, it looks hard for the large construction companies to keep their credit ratings as they are now. This study is designed to check Korean government's property policy and any possible problems caused by the overseas and domestic economic environment, which include the property market policy, interest rate, rise in the property price and lackluster sales in housing market. It showed the change in the credit ratings by finding out the sales, work capability, sales in non-governmental projects, operating profits and PF contingency liabilities. For this study, the questionnaires were sent to 30 practical experts to analyze the effect of the risk factor on the outside credit rating of large construction companies.

A Study on Analysis of Risks Related to Overseas Railroad Private-Public Partnership Projects (해외철도사업의 민간투자 위험 요인 분석에 관한 연구)

  • Cho, Hyunmi;Kim, Sigon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.42 no.6
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    • pp.887-892
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    • 2022
  • Due to various reasons (normally financial constraints in developing countries), it becomes common to change of the business model from state-run projects to Private Investment Projects (Public Private Partnership) in the global railway businesses. However, due to the nature of railroads compared with other types of infrastructure such as roads and others, railway business require considerable construction cost and O&M cost through the business development, construction, and operation and management stages. Therefore, private investment railway projects, especially in developing countries, can be problematic in terms of the potential for uncertainty when return on investment cannot be guaranteed. In order to strengthen the competitiveness of domestic companies when entering overseas railroad PPP projects, this study proposes PPP-related risks and their countermeasures by reviewing global railroad trends and identifying Korea's weakness in managing international railroad projects.

Research on eco-friendly construction management plan for construction site through waste fiber resource recycling technology (폐섬유 자원재활용 기술을 통한 건설현장 친환경 시공관리 방안에 관한 연구)

  • Kim, Dae-Geon
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2022.11a
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    • pp.45-46
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    • 2022
  • Recently, it is necessary to establish an eco-friendly construction system through recycling of waste material management at construction sites. This is required to reflect the times that require a carbon reduction system in construction as part of domestic and overseas carbon dioxide reduction. Therefore, we intend to establish eco-friendly construction management as part of resource recycling and carbon reduction through recycling technology for waste fibers generated at construction sites.

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Policies and Tasks for Improving Korean CM Industry (CM 산업 발전을 위한 정책 및 과제 추진 방안)

  • Kang, Seunghee;Jung, Youngsoo;Kim, Namjoon;Shin, Dongwoo
    • 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.

Evaluating and Suggesting Key Risk Factors according to Risk Hierarchy of Occurrence Field in the Overseas Development Projects (발생영역별 리스크 위계에 따른 투자개발형 해외건설사업의 핵심 리스크 인자 도출 및 평가)

  • Lee, Jeong-Seok;Ahn, Byung-Ju;Kim, Jae-Jun
    • Korean Journal of Construction Engineering and Management
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    • v.13 no.2
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    • pp.70-79
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    • 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.