• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.11a
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• pp.225-229
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• 2009

International construction market has been open to other countries, and it derives the development of our overseas construction industry quantitatively as well as qualitatively. Until now, the major companies have an absolute majority in the overseas construction market, and the small and medium enterprises have had difficulty to get a leadership in the international construction market because of the lack of the technical expertise and the capital strength. Especially in the Middle East Asia, our construction companies has touched off a boom, so our market share also has grown, which derived from the up toward ratchet oil prices and a worldwide boom in real estate development. The small and medium enterprise minority have recognition that the overseas construction market is the major company's native territory. But Data from the existing researches and many statistics indicate the most companies tend to underestimate the capacity and international competitiveness of the small and medium enterprises. As a matter of fact, hundreds of small and medium enterprise cut a conspicuous figure in overseas market. Consequently, it is indispensable to overcome the international financial crisis by revitalizing our overseas construction industry which obtains excellent results in international market. this study suggested the ways to expand overseas bonding capacity of Korean financial institution. This study proposed the Korean government to allow Construction Guarantee (former Korea Construction Financial Cooperative) to deal with foreign exchange so that Construction Guarantee will underwrite the overseas construction bond.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.107-116
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• 2018

Since 2010, Korea's overseas construction orders have seen dramatic fluctuations. I propose causes and remedies for the industry as a whole. Orders have recorded an annual average of $63.8 billion dollars from 2011 to 2014, reaching its highest at $71.6 billion dollars(2010) which marked the peak of Korea's overseas construction. However, due to a decline in international oil prices, starting in the last half of 2014, Korea's overseas construction orders have followed suit recording $46.1 billion dollar in 2014, $28.2 billion dollars in 2016, and $29.0 billion dollars in 2017. Facing uncertainty in Korea's overseas construction market, caused by continued slow growth of the global economy, Korean EPC contractors are at a critical point in regards to their award-winning capabilities. Together with declining oil prices, the challenges have never been bigger. To mitigate the challenges, I would suggest policy direction as a way to grow and develop the overseas construction industry. Proper counterplans are needed to foster Korea's overseas construction industry. Forecasting total order amount for overseas construction projects is essencial. Analyzing contract award & tender structure and its changing trends in both overseas and world construction markets should also be included. Korea has great potential and global competitiveness. These measures will serve to enhance Korea's overall export strategy in uncertain overseas markets and global economy.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.308-314
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• 2013

Although global construction spending has experienced slow growth due to consecutive economic crises, global contractors have consistently attempted to expand their overseas market share, leading to more intense competition among contractors in the international construction market. In this market environment, owners, clients and financial institutions require reasonable and systematic criteria to effectively assess the business capabilities of international construction firms. However, the existing evaluation methods for construction firms rarely consider overseas-focused business capabilities. To address this problem, this study proposes a quantitative approach to assessing the overseas business capabilities of international construction firms. The limitations of existing approaches are reviewed, and the capabilities required to perform overseas businesses are analyzed through expert interviews. Finally, 18 evaluation indices are suggested in four categories: technology resources, project management, experience and performance, and sustainability. The relative weight of each index is determined according to the Analytical Hierarchy Process (AHP) method, and a preliminary investigation of 11 Korean construction firms is conducted. The proposed method is expected that it will provide the rational criteria for international owners, clients, and financial institutions for decision-making and for evaluating international contractors.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.746-747
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• 2015

Recently, Korea has achieved accumulated total value of orders of six hundred billion dollars in international construction market, and it is facing a new turning point by entering the overseas construction market. However, according to the statistics on the current internal construction market, the accumulated value of orders has been mainly obtained by plant projects in the Middle-East area. To improve international competitiveness of Korean construction industry, it is required to expand and diversify the target areas and construction business sectors. To expand markets, each construction firm should establish the expansion strategy and assess the capability which includes the strength and weakness of their firm. Therefore, this research aims to evaluate the capability of the Korean construction firms for overseas expansion. Through the research, Korean construction industry is expected to strengthen competitiveness toward the overseas markets. Furthermore, this research contributes to expanding and diversifying markets for domestic construction firms.

• Korean Journal of Construction Engineering and Management
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• v.14 no.1
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• pp.43-51
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• 2013

The changes in business structure of domestic construction companies suggest that there is a close relationship between the volume of overseas project and a company's financial condition. Based on this assumption, this study conducts an empirical analysis on a relationship between overseas project and financial stability of a construction company. The ratio of liquidity and liability was used as liquidity index and stability index respectively. The analysis was based on quarterly time-series data between 2000 and 2010. Two models were constructed for the analysis: Model 1 was based on the liquidity ratio and the amount of domestic and overseas construction project; Model 2 was based on the debt ratio and the amount of domestic and overseas construction project. The analysis results showed that the increasing amount of overseas project facilitated short-term financing with greater liquidity, and yet it was not very effective in lowering the debt ratio. This suggests that the dramatic increase in overseas construction project, which is observed recently, is not entirely an optimistic sign.

• Korean Journal of Construction Engineering and Management
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• v.19 no.3
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• pp.89-96
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• 2018

This study derived big issues in overseas construction through big data analysis. To derive big issues in overseas construction, candidate groups of big issues were identified through big data analysis targeting 53,759 issues including 39,436 issues from major portal sites, 10,387 issues from daily newspapers, and 336 issues in construction magazines from Oct. 1, 2016 to Sep. 30, 2017. The main results are as follows: First, the main issues of overseas construction for the past one year showed that markets were concentrated in Middle East Asia and most of them were low-price order plant projects, which revealed the limitations. Although orders of overseas construction were slightly upward in the first half of 2017 compared to previous year, overseas construction orders are still unstable due to uncertainties in the international affairs and drops in oil prices. Second, the interest topics based on the 8th core keywords of overseas construction among the overseas construction issues for the past one year showed that region (29.9%), corporation environment (22.0%), profitability (17.0%), organizations (15.1%), projects (5.2%), market environment (3.6%), policy and system (3.6%), and education (3.5%) in the order of interest. Third, 10 core issues that have expandability and persistence of discourse were extracted out of 30 issue candidates with regard to eight keywords. Based on the extracted issues, detailed analysis on each of the core issues in overseas construction and correlation analysis between 10 core issues were conducted.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.721-722
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• 2015

The aim of this research is to provide a direction to benchmark advanced construction companies from Spain and France by deriving business strategies through SWOT analysis in order to strengthen overseas expansion and competitiveness of domestic construction companies.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.11a
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• pp.14-15
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• 2020

The circumstances of overseas construction market is developing into quite complicated and diversified trends. Construction circumstance is escaping from localization to the open competitions, and from developing countries focused to the resources developing countries. Thus, new strategies for order competitiveness improvement based on our know-hows are required to secure the order volumes. This study has analyzed domestic construction companies' order trends in overseas construction market, and proposed strategic plans through analyzing of Order Causes on overseas construction projects to improve the order competitiveness.

• Korean Journal of Construction Engineering and Management
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• v.9 no.6
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• pp.225-234
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• 2008

The engineering competitiveness of domestic construction companies is 70$\sim$80% of advanced countries. And Korean' companies fall behind China and South-East Asia in a competitive price. Recently, there are increased the amount of overseas order received in Korean construction companies. But, there is not enough the supporting policy of government. Therefore, this research compared and analyzed the competitiveness of domestic construction companies throughout benchmarking support system of overseas construction in advanced companies. Such research was obtained through business trip & consultation with related specialists for the difficulties of domestic companies in advancing into overseas market. This research provided governmental plans to advance into overseas market. First, this research provided assurance system and connected plan of ODA(Official Development Assistant) in construction. Second, this research suggested the improvement of overseas marketing survey and overseas construction marketing center. Third, this research provided the support system of bidding information and the training system of professionals.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.05a
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• pp.192-193
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• 2014

Due to the decreasing domestic construction market since 2007, Korean construction companies are expanding overseas market. As a result, the international market share by Korea has been continuously increased and achieved 65.2 billion dollars in 2013. Despite of such visible results, profitability concerns are constantly arising. It is pointed out that the low-priced bid competition between Korean construction companies and various unpredictable risks are the most crucial factors which aggravate the profitability in the overseas projects. From this point of view, predicting the risks in advance and controling them could be the most important tasks to improve the profitability. This research proposed 202 risk factors with a hierarchy and relational database schema for power plant construction, which is based on the 24 risk classifications in previous research (Kim & Jung 2013). Proposed risk classification and relational database schema could be utilized as the basic data in risk management system.