• International conference on construction engineering and project management
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• 2015.10a
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• pp.39-40
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• 2015

As international construction market increases, the importance of risk management in international construction project is emphasized. Unfortunately, current risk management practice does not sufficiently deal with project risks. Although a lot of risk analysis techniques have been introduced, most of them focus on project's external unexpected risks such as country conditions and owner's financial standing. However, because those external risks are difficult to manage and take preemptive action, we need to concentrate on project inherent risks. Based on this premise, this paper proposes a project-oriented risk mining approach which could detect and extract project risk factors automatically before they are materialized. This study presents a methodology regarding how to extract potential risks which exist in owner's project requirements and project tender documents using state of the art data analysis method such as text mining. The project-oriented risk mining approach is expected to effectively reflect project characteristics to the project risk management and could provide construction firms with valuable business intelligence.

• Journal of the Korea Institute of Building Construction
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• v.24 no.3
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• pp.371-380
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• 2024

This study investigated and analyzed overseas construction supervision systems to propose improvements for domestic supervision practices. The findings indicate a need for strengthening the role and responsibility of the ordering organization, sharing the workload and reducing the burden on supervisors, establishing a supervision work evaluation system. By implementing these recommendations, it is anticipated that the quality and effectiveness of construction supervision can be significantly enhanced.

• Korean Journal of Construction Engineering and Management
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• v.13 no.3
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• pp.109-121
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• 2012

Overseas construction project orders have shown steady increase since 2001, and it took 44.5% of the total construction project orders in 2010. Overseas construction project needs more complex risk management because it is affected by more various circumstance factors than the domestic construction is. Previous studies have centered on the internal risk factors to assist the decision-making, but there are few researches on the importance and techniques of foreign exchange risk management. Inadequate management of foreign exchange risk has been found to cause huge damages due to the lacking recognition on the importance of foreign exchange risk management. Therefore, current study designed a foreign exchange risk manage model to help efficient management and decision-making. This model was developed as a technique to meet the demand of the increasing overseas construction projects for the efficient management of foreign exchange risk, and the technique will lower the risk with more and more accurate outcome by accumulating the data of profit-and-loss.

• Korean Journal of Construction Engineering and Management
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• v.20 no.3
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• pp.122-133
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• 2019

In the construction industry, bidding competitiveness is the most basic and important competence of the company. Bidding competitiveness comes from competitive advantage, but the strategy of the company to capture bidding competitiveness varies with the characteristics of the project. In particular, overseas construction is where uniqueness of the construction industry and the specificity of international business coexist. This study analyzes the bidding success ratio and the level of bidding difficulty by project characteristics with 12,952 overseas construction bidding cases. Consequently, it was found that the bidding success ratio of Middle East and North Africa (MENA) and civil engineering was the lowest in each group of project characteristics, and therefore the level of bidding difficulty is high, respectively. In addition, it was confirmed that the bidding success ratio of small size or short duration project was relatively high, and the bidding success ratio of both the negotiated bidding in the bidding method group and the private sector in the client type group was respectively high. However, Kruskal-Wallis test in contract type and period shows that there is no statistically significant difference in the bidding success ratio by group.

• Plant Journal
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• v.7 no.4
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• pp.58-66
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• 2011

The power plant companies reached the culmination for growth in the domestic market. Besides, we have faced many challenges such as an electricity opening market trend for overseas, banning the use of coal due to the United nations framework convention on climate change, and the meticulous attention regarding the government's electricity charge plan. On the other hand, the overseas business has been a critical issue since China and many other developing countries expanded their projects abroad. Another factor is that power plant industry is being privatized, and it made the market regulation a bit loose. Thus, the market environment became favorable toward those companies which planned many overseas businesses. In this research, the power plant company's current condition for construction and operation as well as its technical competitiveness were analyzed, and an alternative plan using SWOT analysis for entering an oversea market was made. It dealt with both internal and external factors. Also, examined was the current situation under the power plant industry dealing with restructure for electric industry, lack of fossil fuel, and the United nations framework convention on climate change. From the research, it was suggested that many successful strategies to enter the overseas business by using the market trend I researched.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.129-134
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• 2008

Global construction market has grown rapidly since 2000. Even though developing countries grew into an economic, the most of oil-producing countries of continuous high oil prices due to an increase in plant construction orders is to present a lot of influence. According to the growth of global construction market, the domestic construction companies in the overseas market share have recorded 3% of the performance of the top 10 world records. However, current performance has analyzed the expansion of the market rather than competitiveness development of domestic construction companies. Therefore, to improve competitiveness in the global construction orders for the domestic construction companies in terms of long term, the government in Korea has ordered various research projects related to the plant since 2005. This paper presents not only global plant market trends and plant project in domestic but also introduction of completed research standardization recently.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.408-413
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• 2006

Recently, the economic trend of internal enterprises toward the world market appears to exceedingly associate with industrial plants. Such circumstance would limit the diversity of project items and cause various issues of extreme disproportion of overseas construction market at the same time. Consequently, it seems essential to inspect the present state of bookings in the civil engineering and construction fields including the service corps, regarding the former period (from the year 1990 to 1996), the depressed period (from 1997 to 2000), and the latter period of monetary crisis (from 2001 to July 2006), based on the critical situation in foreign exchange occurred in the late 1990's; also important to look into the shifts of the representative items in such fields by regional groups of principal nations throughout the world. Therefore, the current situation of bookings in overseas construction companies should be clarified, and ultimately, appropriate measures should be established.

• Korean Journal of Construction Engineering and Management
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• v.14 no.5
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• pp.113-121
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• 2013

An expansion into the global market increasingly becomes a buzz world among Construction Management(CM) firms in Korea. The objective of this study is to identify potential obstacles and investigate their nature and implications to CM firms in Korea. The study identified 25 obstacles under 5 categories. Base on a questionnaire survey and interviews with CM experts who have global CM projects experience, the study discusses that while there exist various types of obstacles, a more attention needs to be paid for a small number of major obstacles to minimine risks in overseas CM projects. It also suggests that improving pre-construction management competency through securing CM experts should be listed as a top agenda for Korean CM firms.

• Proceedings of the KIEE Conference
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• 2003.11a
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• pp.14-16
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• 2003

For four decades now KEPCO has experienced an incredible growth rate of over 10% per year in each year. This growth led to the fast development of new facilities, especially in the transmission systems field, and we also managed to gain an enormous amount of experience and technology in the construction and design. With this experience and technology we curbed the electricity demand. Experts now predict that we will enter a new phase in which our growth rate will stagnate and eventually level off. This isn't what KEPCO or any company wants. We are looking for continued growth. In the last decade KEPCO began selling its technology in the generation sector of the electricity business to overseas markets. Sales in the generation sector have been a great success. This decade marks another milestone for KEPCO as overseas sales in the transmission sector began. Our first project, "Myanmar Power System Development Study" and its subsequent successful completion gave us the ammunition necessary to expand in this line of business. This success has also given birth to this paper. KEPCO is still the People's company, but with a new vision. It now hopes to not only sustain a high growth level but to also increase the growth of domestic companies by sharing with them a piece of the proverbial pie, as it ventures forth to be a Global player on the international stage.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.373-378
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• 2003

Korea's overseas construction industry has been rather depressed by the weakened profitability as well as the sharp decrease of the market shares due to the lack of international competitiveness and the declined international market following the outbreak of Iraq war. There exist a lot of various risks in performing the overseas construction, and especially EPC projects, which entail complicated process from different parts, also require a sophisticated procurement and management skill. Subsequently, to survive in the competitive international market, we need to establish strategies to select potentially profitable projects at the initial stage of bidding process and to mitigate the high degree of risk exposures through contract negotiation and its adjustment. This research provides the profitability evaluation bases, with which overseas construction participants can forecast and analyze the risk more systematically, by eliciting profit-influencing factors from real overseas construction projects and structuring their cause-and-effect relationships. The profitability causal hierarchy structure describes the profitability factors' hierarchy in details and their interrelationships. It also enables us to find out critical factors directly related to profitability aggravation through a qualitative analysis. Ultimately, with this hierarchy structure as the base, the research will suggest how to develop the quantitative profitability forecasting model.