• Korean Journal of Construction Engineering and Management
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• v.10 no.4
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• pp.3-13
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• 2009

When promoting BTL(Build Transfer Lease; below BTL) project, negotiation is a stage of examining observation and reflection of RFP(Request for Proposal below RFP) in terms with facilities, operating and financing. It keeps an important position in whole process. However, there is no consistent guideline or model which helps evaluating the result of negotiation. It is difficult to apprise the quantitative outcome after executing negotiation. Thus, this study presented the Value Engineering -based process and model of estimating the outcome of negotiation for the purpose of estimating and verifying the result of negotiation objectively, Evaluating factors of negotiation were classified into 6 fields, 38 divisions and 135 items, focused on cultural facilities on BTL project. Weight of every factor was estimated, and quantitative checklist was established. This study presented the model which could measure the outcome of negotiation. This result would be a critical checklist before negotiation on BTL project, an index of feedback during negotiation, and also a standard of estimating the outcome after negotiation.

• Land and Housing Review
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• v.8 no.2
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• pp.59-71
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• 2017

With the passing of Special Act on Promotion and Support for Urban Regeneration (will be hereafter referred to as the Urban Regeneration Special Act) in December 2013, urban regeneration projects have begun in full scale. 13 regions including Jongno District, Seoul were selected as the urban regeneration leading area in 2014 and 33 regions as urban regeneration general regions in 2015 to push ahead a nationwide urban regeneration front supported by government funds. However, it is not clear if these urban regeneration projects will be revitalized by the sole means of government's financial support. Above all, cooperation among all interested parties including the central government that is propelling urban regeneration, local governments, state corporations, private entities, and citizens is urgent. In an urban regeneration project, delegation between state and private entities is absolutely crucial. The central government and the pertinent local government must provide their support by forming new policies and repairing old institutions that are right for urban regeneration, securing the necessary subsidy, and outsourcing government-owned land development. A state corporation must play its part in every aspect that requires public character such as an overall project management of an urban regeneration project, cooperation with the local government, and infrastructure installation. The private stakeholder must share his private capital and know-hows as a construction investor and a development businessman to make possible a successful urban regeneration project. In order for these public and private entities to cooperate with one another, it is necessary to reestablish the role of a public developer and contemplate running an urban regeneration project that permeates public character through a public developer.

• The Journal of the Korea Contents Association
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• v.17 no.5
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• pp.574-590
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• 2017

The purpose of this paper is the provision of a decision-making tool for developers to identify the project risks for under-consideration overseas independent power projects (IPPs), and to analyze the priority and importance weights of the risks through the employment of a fuzzy multi-criteria decision-making (MCDM) approach. A fuzzy MCDM is the calculation method for which the imprecision of each respondent's unique opinion is considered. Through the extensive literature surveys that were conducted for this paper, eight major project finance (PF) risks have been derived credit risk, completion risk, market risk, fuel risk, operating risk, financial risk, environmental risk, and force majeure. The empirical results show that the market risk is the most important risk factor in terms of overseas IPPs, thereby confirming that the long-term power purchase agreement (PPA) guarantee of the host country is one of the most important corresponding factors for the PF.

• Korean Journal of Construction Engineering and Management
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• v.12 no.2
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• pp.133-142
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• 2011

The purpose of this study is to analyze the problems of the parties involved in the issuance of apartment housing development projects. The adapted research method selected four apartment housing development as PF ABCP projects. This study carried out the case about participant institution of PF ABCP funding project including developer, constructor, financial institution so as to draw problems by participant institution. On the basis of the selected case, this thesis proposes methods for involved parties to negotiate and work out problems of the PF ABCP. The results of this study are as follows 1) Launching long-term project financing should be developed, including operating funds and strengthen the ABS and ABCP issuance of credit assessment procedures, combined with the simplicity of the instruments. 2) The Low-risk contract for the construction of simple managerial focus should be the construction, financial institutions essentially dependent on project financing feasibility verification purpose loans to prevent the division a true story, the development should be of interest to be preserved. The proposed included, among other, partial guarantee based on the construction plan financial institutions' share-based investment, and the supplement of legal issues.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.4
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• pp.580-599
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• 2008

This paper aims at examining the existence and characteristics of regional difference in project finance in Korea. Main results of this paper are as follow. Firstly, regional difference in project finance between capital region and local can be seen partially. However, their characteristics are different from corporate finance. ANOVA tests show significant differences of excess interest rate occur in case of commercial real estate projects and significant differences of contracted terms occur in case of residential real estate projects carried out by local banks. Secondly, key factors causing the regional differences in project finance are asymmetric information for cash flow generated by the project between the capital region and local. Especially, regional differences in project finance are different from those in corporate financing because of local banks$^{\circ}{\phi}$ behaviors. They follow and act as the passive members of nationwide banks in case of the capital region projects. Thirdly, prepaid sale system and the guarantee system depending on construction companies dilute the regional differences in project finance in case of residential real estate projects. Although these systems contributed rapid growth of project finance, they may be the main factors distorting project finance market which lead to financial crisis. In these context, policy implications may be derived in order to solve the confronted problems of project finance market.

• Journal of the Korea Convergence Society
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• v.8 no.1
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• pp.213-220
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• 2017

This Study conducts a survey of ICT SMEs participating in 'ICT Government Sponsored Loan Project' for researching general demands on Government sponsored loans and studies successful company case by inspecting background of R&D, performances, impacts, prospects, episodes, etc. Actually, survey results show that ICT SMEs demand more of Government sponsored loans and that stable financing is a core factor and the most difficult task for successful R&D. In conclusion, these results implicate that Government has to create new policies for competitive ICT SMEs to recover financial stability through developing and commercializing technologies.

• Journal of Korea Society of Digital Industry and Information Management
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• v.5 no.3
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• pp.185-199
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• 2009

This paper analyzed articles of u-City Construction Law, which has been enacted on 29th of September last year, and evaluated their appropriateness and other laws associated with u-city services for better provision of u-cities and u-city services. The enacted law established the concept of u-city in Korea and provided relating industries with construction procedures, technology developments, and standards. These efforts have substantial implications as the first stepping stone, but also raised several problems. Hence, this paper suggested that the u-City Construction Law should be amended as follows. First, The minimum size of u-cities, that is required by the law, should be decreased. Second, various kinds of incentives should be provided to the u-city project companies. Third, new organizations such as u-City commission and National or Regional Control and Management Center will be necessary. Fourth, technology standards and inter-operability among cities should be provided in the areas of the control and management centers. And Finally, more measures of and focuses on project financing issues should be made.

• Journal of Korean Society of Rural Planning
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• v.25 no.4
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• pp.35-45
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• 2019

Korean agriculture experienced rapid changes in its production structure to respond fluctuations on external conditions, and these changes have increased the dependence between agricultural resources and negative environmental externalities from agricultural production. As a tool for managing agricultural resources and reducing negative environmental effects from agricultural production, this study employs water-energy-food nexus for integrated resource management. To show the necessity of an integrated approach, this study evaluated three policy scenarios including changes in capital interest, water capacity, and energy cost. The results show that three scenarios have unintended consequences for farmers' incomes and their use of resources. Also the unintended consequences of government policies also affected farms' vulnerability to environmental changes. In particular, the expansion of financing for the establishment of non-circulating water curtain facilities did not have a significant effect on the crop switching of farms. In addition, increasing the amount of available water through the aquifer recharge project leads to the installation of non-circulating water curtain facilities in zucchini farm. It raises dependence on groundwater in agricultural production, thereby increasing farmers' vulnerability to groundwater shortages. These results imply that the agricultural sector needs to consider the interrelationship between agricultural resources when designing or evaluating policies.

• The Journal of Information Systems
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• v.30 no.2
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• pp.1-27
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• 2021

Purpose Even if many startups firms have developed innovative items and a potential for success, they often have a limited financial resources, which makes them difficult to do business. To overcome this financial difficulty, startups have used one of fintech services, called crowdfunding that can be a good alternative to solving the difficulty of financing. The purpose of this study is to empirically validate the proposed research model that investigates the reasons of trusting crowdfunding platform, which positively leads to two outcomes - intention to participate and word-of-mouth for reward-based crowdfunding project. Design/methodology/approach We proposed several factors categorized as trust, information quality, and platform traits that have a positive impact on trust of crowdfunding platform, which positively leads to intention to participate and word-of-mouth of crowdfunding. The collected(n=285) from individuals who have participated in crowdfunding project was analyzed with SmartPLS 3.0 to test proposed hypotheses. Findings The results showed that all proposed variables (website reputation, crowdfunding familiarity, digital storytelling, information quality, and interaction) had a significant impact on crowfunding platform trust with exception of product differentiation. In addition, crowfunding platform trust was positively associated with participating intention and word-of-mouth. Based on findings, we discussed the research results and implication alone with a direction for future studies.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.83-90
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• 2022

Public-private partnerships (PPP) projects are becoming popular in both developed and developing countries due to their ability to access new financing sources and transfer certain project risks to the private sector. PPP has been an active research area where the concept of Critical Success Factors (CSF) is often discussed by researchers. This study aims to identify the CSFs for various PPP infrastructure projects that have been explored in previous CSF studies. This article reviewed the literature about CSF in PPP projects from the years 2002 to 2021, compared the findings of studies regarding the identified CSFs, and consolidated the CSFs that can be applied to various PPP infrastructure projects. The results showed that dominant research focused on general infrastructure, where CSFs can be applied to all infrastructure sectors rather than any specific sector. The most identified CSFs from the study are favorable and efficient legal frameworks, appropriate risk allocation and sharing, a robust and reliable private consortium, a competitive and transparent procurement process, and political support and stability. The findings from the study can provide an overview of CSFs that are relevant to specific PPP infrastructure sectors like building infrastructure, transportation, water, etc. as well as for general infrastructure. In addition, the results can also be used for further empirical analysis.