• Korean Journal of Construction Engineering and Management
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• v.11 no.3
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• pp.105-114
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• 2010

As the Korean economy went into a recession because of the global financial crisis in 2008, in order to vitalize the Korean economy, the government raised SOC budget and made its execution earlier. To prevent increases in budget for the government financial investment projects, the government controlled the project cost of SOC construction projects by enacting 'Guideline for total project cost management' in 1994 and complementing the relevant system. However, different from government intention, the total project cost of SOC projects were increased drastically. Hence, the government authorities and research institutions insisted the necessity of supplementation and improvement for the total project cost management system. This research is to provide the improvement for the total project cost management system of domestic SOC projects. In this research, As-Is Model was adjusted considering status of the total project cost management in the current SOC projects. Also the cost management of construction projects between domestic and other developed countries was studied, analyzed and compared. Based on the above, problems related to total project cost management of domestic SOC projects were found out and an improved total project cost management was provided to improve these problems.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.67-72
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• 2004

최근 건설산업은 공공 및 민간부문의 발주물량 감소가 가시화되고 있으며, 최저가입제에 의한 사업수익율 하락 추세는 향후 건설업 붕괴위기, 건설산업 사양산업화라는 비관적 견해가 떠돌 만큼 건설업 전반이 심각한 위기를 맞고 있다. 정부는 재정 부족으로 인하여 SOC사업의 축소조정이 불가피하지만 국가경제의 악영향 해소와 신속한 경쟁력 회복을 위해 SOC사업에 대한 투자확대와 푹소범위 최소화의 필요성을 인식하고 있으며, 이에 재정부족과 SOC 확충이라는 두가지 문제를 해격하기 위해 민간투자사업이 활성화되고 있는 실정이다. 현재, 정부에 의해 주도되고 있는 민간투자사업의 제도 및 법률의 개정방향은 피간 건설업체가 주도하던 민자사업에 대하여 연기금 및 금융권으로의 전환을 예고하고 있으나, 현실적으로 금융권이 자체적으로 SOC 사업에 대한 투자를 위한 사업 타당성 분석이 어려운 실정이므로 이에 대한 대안으로 SOC 민간투자사업에 대한 노하우를 축적한 건설업체의 SOC 민간투자사업 분야에 아웃소싱 개닐념 도입, 특화하여 효율성을 극대화 시킴으로써 사업의 안정성 확보와 동시에 투자 수익 실현을 통하여 SOC 민간투자 활성화에 견인차 역학을 할 수 있는 전문운영회사의 도입에 대하여 논하고자 한다.

• Korean Journal of Construction Engineering and Management
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• v.1 no.1 s.1
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• pp.45-52
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• 2000

In Korea, demand for the Social Overhead Capital(SOC) projects has tremendously increased since 1970's and is expected to keep growing to support national economic development as well as to enhance the quality of life. In these projects, project planning and feasibility study phase is one of the most critical phases because it determines the success of later phases. However, we have experienced trial and errors repeatedly such as cost overruns and schedule delays in many of the SOC projects. These problems can be prevented or at least expected in the earlier phase and it requires well-developed and standardized project planning process and systems before design, procurement, and construction phases begin. Therefore, the purpose of this research is to investigate current problems in this phase and provide framework for a model for the project planning management which can be used for the SOC projects to insure the whole project success.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.486-489
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• 2004

To enlarge the international competition and construction productivity, the domestic construction market attracts the private capital and expands the facility of :iocial Overhead Capital(SOC). However, the application of the business system used at the public project didn't utilize the effect of social overhead capital. It caused problems that parties' business was inefficient and their allotment of the risk was inadequate. This paper presents the course to reorganize the business system which the coincides with the origin aim of the SOC. For the reformation of the supervisor's work scope and business system and the government's overall project management, in other words, this paper proposes the professional organization to replace the superintendence and the formation of optimal business system. This paper confirms the privity of contract among parties of SOC project and parties' work scope and system between relative laws and concession agreement that government made a contract with Special purpose Company (SPC).

• Korean Journal of Construction Engineering and Management
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• v.1 no.2 s.2
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• pp.108-116
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• 2000

The absence of systematic project procedures in the domestic SOC projects has caused many problems. Therefore, it has been raised the needs for the effective project management of the projects which helps the participants to have systematic procedures at each phase of the SOC projects. The purpose of this research is to build the current model of procurement management process for the airport facilities and to derive inherent problems, and the building direction of the effective procurement management is suggested for the future research. The result of this research could be used for delivering the effective SOC projects and for establishing interrelationships between procurement and other phases of the projects for the integrated project management. The procurement process of the Inchon International Airport was investigated and the as-is model was built. Through the analysis of the as-is model, and the questionnaires and the interviews with the participants of the SOC projects, the problems of the current procurement process has been derived.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.32 no.spc4_2
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• pp.393-400
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• 2014

"Master Plan of Cadastral Resurvey Project" aims to put the governmental budget of 1.3 trillion Won into the cadastral resurvey project until 2030 that reflects the preliminary feasibility study, conducted by government at 2012. The cadastral Resurvey, which takes 78.8% of the expenses in the project, has to take an critical role for earning the most effective results from the project. The cadastral confirmation surveying take up almost 13% of the project and is controlled under the areal SOC(Social Overhead Capital) projects in current "Master Plan of Cadastral Resurvey Project". Also, the affiliations of cadastral resurvey and linear SOC projects are expected to bring advanced results, although those are excluded from cadastral confirmation surveying. For linear SOC projects, the land division survey is conducted by using boundary stakes in boundary survey, while the cadastral resurvey is conducted within the SOC project area, after the completion of the project. In this study, we could conclude that cadastral resurvey results with the world geodetic system from boundary survey at the point of land division could be produced without the duplication of land division and cadastral resurvey. As a result, the expected benefits are 73,877 parcels and 4,078 million won, annually.

• Korean Journal of Construction Engineering and Management
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• v.1 no.3 s.3
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• pp.116-123
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• 2000

SOC projects entail inherently large-scale works, and need much capital and time. Because of these features, the design activities in SOC projects are performed through a complicated process involving many organizations. A great deal of information is generated and vanished during the process, and the communication among the related organizations plays a very important role in successful fulfillment of SOC projects. But, because the method of information communication has not yet systematically established, there are many difficulties in sharing information. This study aims at establishing the design interface management model which enables the participants to effectively share the information during the design phase. The contents of the study include (1) Restructuring performance organization, (2) A decision making method in collaborative design through partnering with experts, (3) A method to develop Open Design Information Integrated model using Standardization(ODIIS).

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.404-407
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• 2004

This Research suggested direction of development and analyzed necessity and given condition of CM(Construction Management) operation system of SOC private infrastructure project which is judged to grow up continuously from now on, Direction of development which is suggested in this research is largely there, (1)development of SOC private infrastructure project CM work standard process guide, (2)development of SOC Private Investment project feasibility study Performance standard, (3)checklist of SOC by stages and functionally private investment projects risk. Through this development, later we judge effect not only supply of a model case to artivate CM system but heightening of efficiency in domestic construction industry.

• The Korean Journal of Financial Studies
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• v.12 no.1
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• pp.19-44
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• 2006

프로젝트 파이낸싱은 프로젝트 자체의 사업성과 프로젝트 현금흐름에 근거하여 발생하는 수익을 담보로 사업자금을 차입하고 운영 시 발생하는 수익으로 대출금을 상환하는 재원조달방식이다. 이 금융기법은 주로 광산 및 천연자원개발 사업에서 수 백년동안 이용되어 왔으며, 우리나라의 경우는 대규모 SOC민간투자사업에서 주로 활용하고 있다. 최근 우리나라 SOC민간투자사업에서는 기존에 정부와 민간사업자간에 체결하였던 실시협약 상의 재원조달 구조를 새롭게 변경하거나 유리한 금융기법을 이용하는 사례가 빈번히 나타나고 있다. 본 연구는 우리나라에서 프로젝트 파이낸싱 기법으로 어떻게 SOC민간투자사업에 투자하고 있는 지 분석하고 현황을 파악하였다. 또한 민간투자사업의 자본구조와 Refinancing의 발생사유를 분석하였으며, 광주제2순환도로, 신공항고속도로, 천안논산고속도로 민간투자사업에서 Refinancing 사례도 분석하였다. 그리고, Refinancing에 대한 효과가 어느 정도 인지 측정을 하였다. 결론적으로 Refinancing 효과가 사업에 대한 수익성을 높이는 효과와 부채비율이 높아져 운영위험이 증가하는 것을 실증적으로 보여주었다.

• Korean Journal of Construction Engineering and Management
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• v.5 no.6 s.22
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• pp.179-190
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• 2004

Present private infrastructure investment in SOC investment has increased up to $11\%$ compared to the year 2003 and it is expected to increase in the future. In spite of its rapid increasement we don't have definite standard or system on distinctly presented rate of return for domestic private infrastructure investment yet, and practical and scientific research is not sufficient, compared to its necessity and importance. Hence, in this study we tried to build theories systematically, which are related to rate of return of private infrastructure investment to promote SOC private infrastructure investment to last successfully and present the proper level of rate of return of private infrastructure we investment appropriate in domestic situations through diverse analysis. Therefore, to present reasonable rate of return, we used 5 methods: existing research analysis, case study, financial index analysis, analysis of investors rate of return, and analysis of rate of return in a real estate market. After comparing and analyzing these methods, Ive presented in the end the appropriate level of rate of return of private infrastructure investment, which can be applied in a domestic market.