• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.391-402
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• 2022

With the number of social overhead capital(SOC) projects that introduce private capital on the rise, overseas construction global companies today need to establish and advance their overseas order strategies. In this context, the purpose of this study is to develop the public private partnership(PPP) capacity evaluation model for developing countries and use it for domestic overseas construction companies to establish strategies for overseas expansion. The PPP competency evaluation model analyzes the importance of PPP competency evaluation items and infrastructure environment competency evaluation items through a review of previous studies and an interview survey with overseas construction experts. Through the above analysis results and expert surveys, problems that may occur when overseas construction companies enter the PPP market were derived, and improvement measures were proposed. Countries with a high probability of overseas construction companies entering the PPP market were determined to be those that have a mature PPP system, low risk in construction, and a good entry environment with a high infrastructure market size and growth rate. In addition, a lack of PPP investment experience, the absence of information on the infrastructure environment, and a shortage of PPP experts were identified as problems when entering the overseas construction PPP market. As an improvement measure, it was suggested to enter in cooperation with domestic and foreign companies. In addition, a plan was proposed to develop a curriculum to secure experts in areas such as PPP finance and contracts and to provide PPP information for each country. These findings are expected to contribute to overseas construction companies proposing strategies for entering the overseas construction market and using them for overseas expansion strategies and policy establishment.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.83-95
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• 2018

The aim of this paper is to develop a performance evaluation model for PPP (Public-Private Partnership) projects that appropriately reflects the important traits that are unique to PPP projects. To this end, 1) it defines a set of distinct perspectives involved in the PPP projects and their associated success factors that might differ amongst the perspectives; 2) it identifies the key performance indicators and suggests the performance evaluation criteria for each indicator; and 3) it builds a performance evaluation model by matching the success factors from each perspective with performance measure criteria as well as applies the model to the two selected BTO road projects in Korea. The process of model construction and its application confirms significant differences between the main stakeholder perspectives typically involved in PPP projects, which highlights the need for an evaluation model tailored for PPP projects by taking into account the distinct perspectives. The results from the PPP evaluation model developed in the study is compared against the results from the existing ex-post evaluation model for construction projects in general. The former shows a closer match with the results from the user satisfaction survey conducted. This new evaluation framework and the performance indicators entailed in it permits a balanced evaluation of PPP projects as it takes into account different perspectives involved in PPP projects as well as an understanding of the factors affecting the success of PPP projects. While the construction of the model is based on transport projects, it is applicable to different types of PPP projects through variation with the weight allocation amongst different success factors and/or additions or other adjustments to the performance evaluation criteria as required.

• Korean Journal of Construction Engineering and Management
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• v.18 no.3
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• pp.84-94
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• 2017

Recently, domestic construction companies have increasingly engaged in international PPP projects a result of both uncertainties in the domestic construction market and low competitiveness in international EPC project business. These international PPP projects usually require long-term preparations and substantial sales costs, which make it important for decision-makers to select winning-award potential project in early stage of the projects. However, most previous research has analyzed success factors in terms of project development across all stages. Thus, this study investigated 28 success factors of 4 categories in the early stage of 31 international PPP projects. First, results indicate that unsolicited PPP projects require better implementation capabilities and financial conditions compared to solicited PPP projects. Second, implementation capability is important because it is not easy to improve as the project proceeds. Third, commercial conditions are identified as important even if conditions are not fixed in the early stage of PPP projects. Fourth, non-commercial conditions, strategy, and public interest are not found to be meaningful in the early stage of PPP projects because they can vary as the project proceeds. This study helps to improve selection criteria aimed towards more winning-award potential project in the early stage of international PPP projects.

• Korea Trade Review
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• v.47 no.5
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• pp.75-93
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• 2022

Purchasing Power Parity (hereafter, PPP) means the purchasing power of two currencies is the same when one is converted into the other one. According to previous studies on PPP, as the volatility of the real exchange rate is smaller, PPP may be more likely to hold. Since New Zealand adopted the inflation targeting policy in December 1989, many countries started to adopt it as their monetary policy frame. Previous studies on inflation targeting found that inflation targeting policy has positive effects on not only achieving price stability but also reducing the volatility of nominal/ real exchange rates. Therefore, in this study, I explored whether inflation targeting policy has positive effects on purchasing power parity subject to 19 OECD countries, applying an Exponential Smooth Transition Autoregressive (ESTAR) model during the sample periods, from 1974:Q1 to 2019:Q4. Based on the ESTAR estimate results, I found limited favorable evidence of PPP for only two countries- England and Switzerland- among 9 inflation targeters, compared to non-inflation targeters, and also I found that favorable evidence of PPP only for these two countries among 9 inflation targeters during post-inflation targeting, but not during pre-inflation targeting. These findings imply that the positive effects of inflation targeting on PPP may be questionable unlike Ding and Kim (2012) and Kim (2014)'s study.

• Journal of Korean Society for Geospatial Information Science
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• v.22 no.1
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• pp.47-54
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• 2014

Precise Point Positioning (PPP) algorithms using GPS code pseudo-range measurements were developed and their accuracy was validated for the purpose of implementing them on a portable device. The group delay, relativistic effect, and satellite-antenna phase center offset models were applied as fundamental corrections for PPP. GPS satellite orbit and clock offsets were taken from the International GNSS Service official products which were interpolated using the best available algorithms. Tropospheric and ionospheric delays were obtained by applying mapping functions to the outputs from scientific GPS data processing software and Global Ionosphere Maps, respectively. When the developed algorithms were tested for four days of data, the horizontal and vertical positioning accuracies were 0.8-1.6 and 1.6-2.2 meters, respectively. This level of performance is comparable to that of Differential GPS, and further improvements and fine-tuning of this suite of PPP algorithms and its implementation at a portable device should be utilized in a variety of surveying and Location-Based Service applications.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.25-37
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• 2018

In recent times, private sector allocates the risk between private sector investors in terms of equity transaction and agreement transaction. The additional risk-allocation have made the cash flows of private sector investors fluctuated and some of the PPP projects delayed. Therefore, analyzing the impact of the risk reallocation between private sector investors on their cash flows is critical for encouraging the private sector participants. In this study, a model to evaluate the financial viability of PPP project is developed based on the discounted cash flow analysis. The model can analyze the variability by equity and agreement transaction by identifying key variables of equity transaction, influence factors of agreement transaction, and relationship between the transactions and investor's profitability. It is expected that the private sector can determine the investment decision for PPP projects when the risk reallocation is occurred.

• 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.

• Journal of Environmental Impact Assessment
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• v.24 no.4
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• pp.375-385
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• 2015

This study analyzed international case studies on Strategic Environmental Assessment (SEA) follow-up and suggested implications based on the study's findings to aid implementation of SEA follow-up in Korea. SEA requires follow-up in order to identify unforseen adverse effects and enable appropriate remedial action to be taken. Tool kits and methodological framework for effective SEA follow-up are only being researched recently. Based on the study's findings, following implications for implementing SEA follow-up in Korea were drawn. First, the system of carrying out SEA follow-up would be different depending on the PPP topic. During the scoping stage, significant impacts should be identified according to the PPP topic, and thus help determine the indicators to be developed in the later stage. Secondly, responsibility, method, time, intervals and actions from SEA follow-up may vary depending on the target SEA consultation. Thirdly, the indicators of SEA follow-up may be considered together with various environmental standards and current political, social and economic indicators which are a big issue in society. Fourthly, SEA follow-up can be used as an integration system of its target planning and environmental planning. Finally, SEA feedback system should be needed. The result of SEA follow-up should be used for target PPP. These would lead to improvements to the target PPP. If SEA follow up is successfully implemented and actively carried out for domestic PPPs, Korea can be a step closer to realization of sustainable development.

• Science of Emotion and Sensibility
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• v.14 no.1
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• pp.17-26
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• 2011

Health care service's added value and sustainability has been formed, through the product developing about sports equipment and special equipment for disabled in order to improve the life quality, with the increasing population of elderly and the attention about health care. This research's design and 3 testing sections has been done according to design process for design development of functional bike. 1st test is done through researching from 4 aspects: structure, aesthetic, function and using. In the 2nd testing, 10 universal design items were used to evaluate 10 modeling samples, and sample F which has high evaluation overall was chosen. In 3rd test, evaluation was done from the user service scene about the mock-up with 1/4 scale size. PPP (product performance program) which is constructed with 60 evaluation items about functional bike's service was tested, and these items were fixed through discussing with experts. Through the result we knew the aesthetic elements had relationship with proportion, unity and typicality. In 10 items (55 survey items), the scores of items with physical exposure's minimization, simple and intuitively usage showed high, on the contrary, the other items' scores was very low, such as information delivery's consideration and thought, failure preventing. The evaluation will be done once more by health care experts, designers and elderly together if the physical model could be made for getting accurate measurement about above test result in the future.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.3D
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• pp.381-389
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• 2009

Korean government is investing 1.8 billion won on infrastructure and investment on PPP projects constitutes 16.3%. This phenomenon is to promote private investment as well as lessening government burdens of public budgeting. However, the only criterion to be considered is government financial status in selecting public or private highway investment projects. So systematic decision support model is required in choosing public or private highway investment projects. So, this paper suggests a systematic decision support model for deciding public or private highway investment at the early stage of project planning. Furthermore, this paper identifies key decision variables with respect to economic, politic, project management criterions based on the related literatures and feedbacks from experts. This paper analyzed 30 cases of government investment and PPP projects and got the survey result from highway specialists. As a result, this paper presents an interval with respect to economic criteria using mean and standard deviation and a logistic regression equation which can predict the possibility of PPP project. Through this study, decision maker of central or local government can decide public or PPP highway project more systematically and reasonably.