• Journal of the Korea Institute of Building Construction
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• v.18 no.4
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• pp.375-384
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• 2018

Due to the downturn in the local construction business, entry into the overseas markets has been regarded as one of the core tasks of the building sector and the government. Thus, entry into overseas markets, not only by large and middle-standing enterprises, but also by small and medium sized enterprises, has recently become a major construction policy. Therefore, this study identified and evaluated overseas construction support policies in the field of construction engineering, ranked them as the policies for developing market development funds, fostering and educating expert workers, and supporting the provision of information on winning orders. Through these policy assessment results, the study proposed improvement measures from the government and from the business side. As for the government viewpoint, a measure of providing information suited to engineers in design companies, project manager (PM), construction manager (CM), a measure of producing skillful workers through the expansion of education support policies, and the promotion of specialized overseas workforce in the construction engineering sector were proposed. In the construction engineering industry, this study suggested measures for securing global expert manpower, sharing performance of overseas construction market development project, strengthening construction project management capacity, and strengthening risk management.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.5D
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• pp.473-481
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• 2012

Demand of Natural Gas (NG) consumption is continuously increasing by long service life and low environmental impact than other fossil fuels. Because of this reasons, Gas wells exploration and huge LNG plant construction project are being boosted world-widely. Especially, overseas NG pipe-line projects are emerging by considering safe and efficiency at the inter-country sections. At the same time, Korean contractors are being achieved to record-breaking performance at 2011's overseas construction market and 80% of new-record was attained from overseas plant construction projects. Nevertheless, Korean contractors are behind than overseas leading contractors by geographical distance from gas wells and concentrated demand for storage plant. In these reasons, this paper aims to develop the standardized business process model(BPM) for overseas NG pipe-line project at project planning phase to support the project entry. To this aim, first of all, extract the BPM through the broad literature and overseas construction market review and domestic/overseas pipe-line project analysis. Second, Test-bed was performed to confirm of practical applicability by 4 experts. And then 15 experts survey were performed to validate the usability and effectiveness of BPM for overseas NG pipe-line project. Consequently, if Korean contractors are using this BPM with their own know-how and experiences, it will be returned to more reasonable and rational references for decision making in overseas NG pipe-line project.

• KEPCO Journal on Electric Power and Energy
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• v.2 no.1
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• pp.133-141
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• 2016

Although construction of any new nuclear power projects had not been launched since mid-1970s until recently in the USA, many new nuclear power plants have been constructed in many countries with the support of their governments mainly as part of their national energy security and electric source diversification policies. For many reasons, the nuclear power industry seemed to reclaim their renaissance from the beginning of this century and the investment in the nuclear power projects draw positive concern from the private financial sector. But the global financial crisis in 2008 and subsequent economic slow-down together with tighter bank credit regulations caused commercial banks, the main source of financing, to lose appetite for investing in new nuclear power projects. But the nuclear power economics shows that the nuclear power is viable in terms of the environmental benefit and long-term average cost compared to other power generation sources. Also doubt about nuclear power safety was much mitigated due to technology development and reinforced safety-related tests and monitoring. Therefore, the prospect for nuclear power market expansion remains positive although there are comparatively big differences among different scenarios. After Korea Electric Power Corp. won the UAE nuclear power project in December of 2009, the competition in nuclear power markets is undergoing huge changes. Competitors backed by the support of their own governments are now entering the market with many aggressive and innovative financing packages to win bids of new nuclear power projects. This report analyzed the nuclear power market prospects, competitive edges of nuclear power, risk management measures, and financing challenges and recommends alternative solutions to promote competitive edges in winning bids of new nuclear power projects.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.8
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• pp.5707-5715
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• 2015

Recently, construction industry has won an increasing number of orders for overseas construction projects, thereby achieving an external growth, but its competiveness is concentrated on the construction execution field. In particular, the plant field occupies most of the entire orders, which are concentrated regionally in the Middle East and Asia. In addition, low-cost orders are frequently caused by excessive competition. But its high value-added construction engineering(Below, CE) field's overseas market share and technological capacity are very low. Also, technological competiveness, in terms of order amount and other factors, is deepening in polarization between large CE companies and small and medium-sized CE firms. It is noted that the existing CE information systems mostly simply accumulate data such as design and specification standards and provide the information thereon to users, and thus have yet to provide the information essential for the CE and support such efforts. This study sought to prepare a system designed for sharing outstanding design documents information necessary for the CE industry, by category of construction so as to support the technological enhancement of the CE field. Toward that end, this study presented measures for constructing the system and services designed to exchange and share the outstanding design documents information and know-how by construction category necessary between ordering agencies and CE companies.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.2
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• pp.427-435
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• 2017

Korea's overseas construction awards reached US $750 bn for more than 50 years since it first entered the market in 1966. In particular, the company won US $540 bn over 10 years from 2007, achieving 72% of the total contracts. However, in recent two years, awarded amounts have decreased by 40% each year. The most significant decline is due to the impact of international oil prices, which have plummeted since end of 2014, as oil-producing nations, which are Korea's major target countries, are struggling to cancel or postpone infrastructure orders. In order to lessen the impact of raw material price fluctuations, the recent trend is that even countries with relatively loose government financing conditions are rapidly changing their ordering methods to investment development forms such as PPP. The Korean government and companies have been already preparing for this for several years, but they are still not doing so well. The main reason is the lack of understanding about the investment development type project, especially financing methods and the aggravated fear of exposing it to various risks due to the characteristics of the development project, which takes a long time to collect the investment. In this paper, I propose a more systematic solution to financial process and risk management, which is recognized as a obstructive factor for Korean companies, in line with the recent government-led establishment of overseas infrastructure development support organizations. I would like to serve as a investment guide.