• Korean Journal of Construction Engineering and Management
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• v.16 no.1
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• pp.3-14
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• 2015

Since the global financial crisis, the Korean domestic construction market has continuously experienced downturns, and the Korean domain construction firms'profitability has been persistently deteriorated. Domestic construction firms have rapidly advanced to overseas markets exclusively for the construction contract packages. However, the profitability for the construction contracts has been lower compared to engineering or project management contracts. One of the critical issues the Korean firms have faced was project management capability across all phases in project execution. Even though several project management capability assessment tools were introduced, most tools were applicable to a wide variety of industry sectors rather than construction industry. Project management capability assessment tool specifically applicable to domestic CM firms was developed through this research, in order to assess project and program management capabilities and improve the competitiveness in overseas market Also, the correlation between project, programs, and the CM infrastructure were identified. The CM firms were divided into two groups according to the size of the business, and both were evaluated at the project and the program level based for the 9 different criteria. The project management capability assessment tool developed for the CM firms can be used for self-assessment to distinguish the strengths and weaknesses of each company at the project and program level. In addition, the current status of each group can be identified by spotting improvement areas for the management capabilities.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.699-711
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• 2011

This study is to perform several major analyses to find any differences in the leverage between the pre- and post-period of the currency crisis. Moreover, another aspect is to investigate a financial aspect which has received relatively little attention to the firms and/or industries in the emerging capital markets in comparison to those in the advanced markets. The purpose of this empirical study is to confirm whether or not, it is myth or reality that Korean business conglomerate, chaebol, firms with subsidized financing from government-owned domestic financial institutions in the pre-financial turmoil, may still maintain their higher leverage, even after the crisis. It was found that firms belonging to the chaebol in Korea maintained higher average book-value and market-value based debt ratios, relative to their counterparts not belonging to the chaebol across all of the tested models. There were positive relationships of IND3(=the chemical industry) and Ind5(=the construction industry) to the book-value leverage. This study identified that there were no differences in the explanatory variables included, between the tested models (that is, without and with including the present value of an operating lease) related to each debt ratio. Since the Korean government continue to improve the corporate governance of the domestic firms in terms of accounting transparency and corporate ownership, it would be more efficient, if utilizing this "new" ratio considering an operating lease as an effective measurement of the level of leverage. In terms of the capital structure, it may also be possible for foreign firms to utilize and benefit from the results obtained in this study when operating their new businesses in Korea, given the economic circumstances such as the ongoing progress of the Korea-America FTA or the Korea-China FTA.

• Korean Journal of Construction Engineering and Management
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• v.13 no.1
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• pp.140-147
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• 2012

Climate changes caused by fossil fuel energy usages have led to serious environmental damages and resource scarcity. Ever-increasing demand for energy causes harsh competition in international energy markets. Nuclear power, which once was regarded as a desirable clean energy, began to face public oppositions after the Japanese nuclear disaster in 2011. In this context, wind power is now considered to be an ever-more important recyclable energy source. Thus, this study intended to identify critical success factors for wind power construction projects. After a thorough literature review, two focus group interview sessions were conducted. A questionnaire-based survey, coupled with the two previous methods, resulted in the extraction of important factors for the success of wind power projects. Experts, including those working as constructors, designers, and owners, were paid a direct visit for the interview and survey. The critical success factors were categorized into feasibility study, right policies, equipment selection, and project financing issues. The proposed critical success factors are expected to be an effective guideline for future investors in wind powers.

• The International Journal of Costume Culture
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• v.2 no.2
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• pp.97-118
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• 1999

Ever since China adopted a free market economy, it has been basking in unprecedented economic growth. It has now emerged as one of the most promising markets in the world for the near future. The purpose of this study was to investigate of Chinese and Korea college female students's cognitive body type and to suggest basic informations for high quality clothing merchandising for china export. The subjects in this study were 430 college female students, aged from 18 to 24 living in Beijing(215) and Seoul(215). The survey were taken from June to July, 1999. SAS(Statistical Analysis System) is used for frequency, percentage, average, standard deviation, χ²-test. The results of this study are as follows. The 90% of Chinese collge female students has under 4000 yuan for monthly income, and they consume less than 1000 yuan for clothing purchasing for one year. About 42% chinese students are interested in controlling of physical body shape. The Korean college female students has from 1,000,000 won to 10,000,000 won for monthly income, and the 84% of them consume less than 1,000,000 for clothing purchasing for one year. It represents of economical difference between China and Korea. Examination on the Korean and Chinese self-perception on obesity of the body as a whole showed that both groups perceived themselves as normal or slightly overweight. More Korean respondents regarded their weight as normal than the Chinese did. The Chinese female college students perceived themselves rather overweight, and held a lower satisfaction level about their physical construction. While the Korean female college students showed low satisfaction level about specific bodily parts, they held a normal level of satisfaction about their physical construction as a whole. It is noteworthy that more Chinese respondents generally held lower satisfaction impressions about their physical construction than their Korean counterparts. It is needed to different merchandising project for export clothing in China.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.5
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• pp.741-749
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• 2018

The purpose of this study is to propose a rational and scientific damage calculation model in relation to damages caused by bid rigging in construction projects. Previous studies and precedents in relation to calculating damages from bid rigging suggest that the main issue was the lack of consideration in standards for deciding successful bids, selection of inadequate standard comparative markets, insufficiency in analyzing the appropriateness of competitive bid price influence factors, and absence of calculation model verification. In order to improve on these issues, a damage calculation method on alternative tenders for construction projects was proposed. For this calculation model, first, a standard market adequate to the successful bid selection standards was determined, second, an appropriate factor was selected by analyzing the correlation between competitive bid price influence factors, and third, a regression analysis was conducted on the selected factor. Lastly, this was demonstrated through verification of appropriateness, significance & normality of the proposed model and application of actual bid rigging cases. Through the proposed calculation model, this study seeks to serve as a base to prevent opportunity damages for parties involved in related court cases by early resolution of disputes and relief from issues of unfair damage burdens on a particular party.

• Korean Journal of Construction Engineering and Management
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• v.17 no.4
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• pp.3-11
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• 2016

Recently, overseas plant orders of domestic enterprises are steadily increased, and the amount of orders in the first half of 2014 were 93% increased compared to the previous year. In addition, now which is the third quarter of 2015, overseas plant orders are already over 249.8 billion dollars so the interests of plant industry research has been increased. In the life cycle of the plant project, CM before the construction stage is to complement the uncertainties that are inherent in the early stages of the project, and from the viewpoint of supporting the rational decision-making, the importance of its role is on the rise. Among them, excavating and investing participation plan in the planning stage is an important work that has a large impact force to influence the success and failure of future project. However, the work has become a problem with frequent consultations due to decision-making, continuous modification, and inefficient repetitive tasks. Therefore, it is needed that work process should be changed to effectively accommodate. The purpose of this paper is to derive the major work items for excavating and investing participation plan in the planning stage of the plant project, and establish a standardized work process through the Delphi analysis. The result of this study is expected to be utilized for EPC companies in ensuring the technical competitiveness in planning on overseas markets, and improve the efficiency of work.

• Korean Journal of Construction Engineering and Management
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• v.20 no.6
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• pp.107-116
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• 2019

Korean construction engineering firms want to pave the way for expansion of overseas markets through the World Bank's Official Development Assistance (ODA) projects as a way to improve their overseas project performance. However, since the World Bank project competes with global companies for limited projects, building partnerships with suitable business partners is essential to gain an upper hand in bidding competition and meet the institutional conditions of the recipient country. In this regard, many network studies have been conducted in the past through Social Network Analysis (SNA), but few have been analyzed based on the process of changes in the network. So, This study collected winning data from the three Southeast Asian countries that ended after the World Bank's ODA project performed smoothly, and established a learning-based link prediction model that reflected the dynamic nature of the network. As a result, the 11 main variables acting on building a cooperative relationship between winning companies were derived and the effect of each variables on the probability value of cooperation between individual links was identified.

• Journal of Korean Ophthalmic Optics Society
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• v.11 no.3
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• pp.249-258
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• 2006

There are many functions of glasses. Not only as a medical instrument but also for decorative purpose and individuality as a mean of expression. The concept of glasses applied according to various purposes and use. Following the designers' point of view, the most important research task is to make products substantial and convenient rather than external beauty after analysis problems and the needs of customers. Because customers ask for the best quality of design all the time. The best design of glass includes essential conditions like; creativity, satisfaction, convenience of use, identity. These conditions are common elements of glasses in both domestic and foreign markets. Also they can be a catalyst to stimulate glasses industry in Korea. First of all to study tho parts of glasses "End Piece", it is essential to consider for a better design. Because it adjusts the center of glasses weight balance for user's comfort. Since many brands are imitated, the significance of "End piece" is of a great importance resulting in a more successful competitiveness.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.72-80
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• 2016

The market size of plant projects in overseas is so large that domestic EPC project contractors are actively seeking the overseas projects and then trying to meet completion plans since successful fulfillment of these projects can provide great opportunities for them to expand into new foreign markets. International EPC projects involve all of the uncertainties common to domestic projects as well as uncertainties specific to foreign projects including marine transportation, customs, regulations, nationality, culture and so on. When overseas project gets off-schedule, the resulting uncertainty may trigger unexpected exceptions and then critical effects to the project performance. It usually require much more time and costs to encounter these exceptions in foreign sites compared to domestic project sites. Therefore, an exception handling approach is required to manage exceptions effectively for successful project progress in foreign project sites. In this research, we proposed a methodology for prediction and evaluation of exceptions caused by risks in international EPC projects based on sensitivity analysis and Bayesian Networks. First, we identified project schedule risks and related exceptions, which may meet during the fulfillment of foreign EPC projects that is performed in a sequence of engineering, procurement, preparatory manufacture, foreign shipping, construction, inspection and modification activities, and affect project performance, using literature review and expert interviews. The impact of exceptions to the schedule delay were also identified. Second, we proposed a methodology to predict the occurrence of exceptions caused by project risks and evaluate them. Using sensitivity analysis, we can identify activities that critically affect schedule delay and need to focus by priority. Then, we use Bayesian Networks to predict and evaluate exceptions. Third, we applied the proposed methodology to an international EPC project example to validate the proposed approach. Finally, we concluded the research with the further research topics. We expect that the proposed approach can be extended to apply in exception management in project management.

• Journal of Labour Economics
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• v.41 no.1
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• pp.83-124
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• 2018

In this study, with the data of Human Capital Corporate Panel(HCCP) we find that the explaining power of the new hiring rate of experienced regular workers is very strong and statistically significant as a main causal factor to the decreasing trend of investment on education and training for workers in corporates, which means a sign of weakening of the internal labor market. Possibility of wage penalty from switching jobs has been weakened considerably too. The effective alternative policy measures to the weakening or laxity of the internal labor markets and whereby followed reduction in investment on education and training for workers in corporates are construction of social system outside of individual corporates to upbring field-tailored manpower of high quality for young generations and small and medium sized enterprises.