• Korean Journal of Construction Engineering and Management
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• v.7 no.1 s.29
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• pp.100-109
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• 2006

Feasibility analysis is a crucial key to success or failure of housing project. Existing feasibility analysis in construction company is based on intuitive approach rather than systematic approach. Usually feasibility analysis in a narrow sense is a financial analysis of project. Feasibility analysis focused in this study is confined to the matter of finance. So, the purpose of this study is to analyze the sensitivity of financial analysis item about profit rate by means of monte carlo simulation and this will improve accuracy of feasibility analysis and decision making.

• Korean Journal of Construction Engineering and Management
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• v.6 no.6 s.28
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• pp.171-180
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• 2005

Public rental housing is constructed, owned, and managed by the public sector. The public institution for the public rental housing controls the whole building life cycle from the construction to the demolition. The construction company for the house built for sale is strongly interested in the cost for the initial investment, while the public institution is more focused on the maintenance cost for the preservation of the buildings Nevertheless, the maintenance cost of the public rental housing has been only managed as the accounting factor without the systemic research and analysis on the actual condition. This paper shows how expenses are related to the degree of obsolescence and presents the differences of the maintenance costs by the housing area and expenditure trends (vs time) of the maintenance costs, through analyzing time series data of public rental housing maintenance cost. Further, this paper helps understanding the causes of the differences of the maintenance costs by housing areas and characteristics of the expenditure trends. After all, this paper contributes to the improvement of the reliability and the practicality for the Life Cycle Cost modeling and the maintenance cost estimating.

• Korean Journal of Construction Engineering and Management
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• v.13 no.3
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• pp.152-159
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• 2012

Remodeling the existing building structure by recycling has great advantages compared with reconstruction in terms of environmentally contributions and reduced use of national resources. And no matter the existing floor area ratio, extension up to 30% of the exclusive using area and short project period have made remodeling a good alternative to reconstruction. However, the residents of aged housings that were being remodeled are either abandoning the remodeling project and turning to reconstruction. The main reason is remodeling project cannot increase the number of householders. In principal, it is prohibited to increase the number of floors during remodeling due to matters of safety. That is, all remodeling construction costs are borne by the residents, which leads to great financial pressure. Therefore, in order to improve these conditions, the residents' burden of remodeling charges should be reduced, and one of the ways to do so is to increase the number of householders. In this study, there will be suggestions of alternatives, including the story increase during remodeling, and compare the burden of remodeling charges on each of the residents, between proposed alternatives and the current remodeling plans by calculating the construction costs in order to prepare a foundation for a system that will promote remodeling.

• Journal of the Korean housing association
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• v.19 no.3
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• pp.11-20
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• 2008

The purpose of this study was to find out tendencies in the planning characteristics focused on the community, single building, shared spaces and interior concept of apartment houses in Daejeon City, and to analyze these characteristics according to apartment unit floor plan based upon the arrangement of room, the type of main entrance, the type of LDK, anbang, kitchen, bathroom and the 3rd space. This study used the content analysis method and analysis was made on drawings and descriptions showing planning characteristics of apartment houses. Above all, 34 cases of apartment houses and 159 unit plans were analyzed. The results of this study were as follows: 1) The most important characteristics of the direction of housing development was the "well-being" concept including greenzone and natural environment. The most mentioned community spaces were children's playgrounds and parks. The emphasized interior concepts were noble, well-being and natural concepts. 2) The most prominent front arrangement type was the 3-bay unit plan, front space arrangement was focused on rooms and, livingroom. The most prominent front space arrangement types were R/L/R, R/L/R/R and there is a new tendency towards KD/L/R/R. 3) The most prominent LDK floor plans were of the LDK type. The type of "Anbang" arrangement consisted mainly of room-bathroom-dressing room. The type of public bathroom arrangement consisted mainly of bathtub-toilet-washbasin and the "Anbang" bathroom arrangement was shower-booth-toilet-washbasin.

• Korean Journal of Construction Engineering and Management
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• v.15 no.2
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• pp.112-121
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• 2014

After IMF bailout crisis in Korea, project financing has been employed as a major funding vehicle for the housing development. In 2008, the recession of housing market due to the global financial crisis had an significant impact on the increasing insolvent site of PF based housing development project, resulting in serious impact to whole economy as a chain effect. In order to resolve this vicious circle of bankruptcy, the major construction companies were urged to take over the insolvent sites and invest to them for normal project exit, and finally play a critical role in normalization of market. Therefore, this study aims to define the core factors for decision making to invest to insolvent site and find out differences among constructors, developers, financial lenders. The results from AHP analysis, the profitability was the most important factor to constructors. Moreover, even though the location merit is little less, through competitive price, we can assure that stable profitability is most important factor to decide to invest in insolvent site. In conclusion, the price is cheap, is highly feasible, if the land secured, major construction company will participate in a PF business investment. These findings were verified by the investment case of major construction company.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.21-30
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• 2019

Environmental and energy issues such as abnormal climate and depletion of fossil fuel due to global warming have emerged as a critical task to threaten human survival. As a result, interest in the Zero Energy Building is increasing as it is an innovative building that can significantly contribute to building energy reduction and greenhouse gas reduction. In the market, however, the added cost of construction is a major stumbling block to the revitalization of the Zero Energy certification. In this study, general private apartment complexes were selected for research, detailed elements for Zero Energy certification were presented based on the construction criteria for eco-friendly houses from the initial design stage, and the cost efficiency analysis of the components for certification were presented. It has been analyzed that only Grade 3 certification can be implemented in apartments due to technical level and physical limitations. Also, after reviewing the cost trend during the lifecycle cost, all expenses can be recovered within 13 years after completion only in the case of grade 5 of the Zero Energy Building. The additional costs proposed in the present study are reflected appropriately in the review of projects for apartments scheduled for order in the future to contribute to the revitalization of the Zero Energy Building certification.

• Korean Institute of Interior Design Journal
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• v.16 no.6
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• pp.116-124
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• 2007

The purpose of this study is to find out the spatial characteristics of the multi-housing units in Seoul and Kyung-gi area since 2006. Literature review and content analysis were used for this study and 82units of the big size over $165m^2$ were analyzed to review such design characteristics as spatial composition, layout and linkage. Through this study, the following conclusions have been reached; 1) Most unit plans had 4LDK and 3bath types including family room as a public space. This results shows that family-room and bathroom has recently become more important than number of rooms in multi-housing units planning. 2) Diversity of plan figures such as mass-mixing, mass-separation and polygons(L, V-type)was showed in most unit plan, breaking from the standardized forms of box types. 3) Intermediated spaces such as foyers and halls in entrance zone were planned and sub-entrance into kitchen were planned for the various types of circulation and work-efficiency. Cases had private space separated from public space, the dispersion of rooms with the increase of connection by corridors, L-DK meaning the living room isolated from the dining and kitchen, partially located living room for a view in area distribution. The spatial planning of master-zone mostly consists of the types of two-rooms and an entry into a foyer(library, dress-powder room, bathroom and master bedroom). This study has a significant meaning on grasping current trend in Korean multi-housing and to provide information for future direction on housing-unit design.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.353-358
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• 2001

Since the financial crisis broke out, liquidity has become the critical issue in housing construction industry. In order to secure liquidity, it is prerequisite to precisely forecast cash flow. However, construction companies have failed to come up with a systematic process to manage and forecast cash flow. Until now, companies have solely relied on the prediction of profits and losses, which is carried out as they review business feasibility. To obtain more accurate cash flow forecast model, practical pattern of payments should be taken into account. In this theory, basic model that analyzes practical housing payment collection pattern resulting from prepayments and arrears is described. This model is to complement conventional cash flow forecast scheme in the phase of business feasibility review. Analysis result on final losses in cash that occur as a result of prepayment and arrears is considered in this model. Additionally, in the estimation of construction cost in the phase of business feasibility review, real construction prices instead of official prices are applied to enhance accuracy of cash outflow forecast. The proportion of payment made by a bill and changes in payment date caused by rescheduling of a bill are also factored in to estimate cash outflow. This model would contribute to achieving accurate cash flow forecast that better reflect real situation and to enhancing efficiency in capital management by giving a clear picture with regard to the demand and supply timing of capital.

• Land and Housing Review
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• v.12 no.4
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• pp.93-101
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• 2021

As the number of small households (1 to 2 persons per household) in Korea gradually increases, so does the importance of housing supply policies for small households. In response to the increase in small households, the government has been continuously supplying urban housing for these households. Since housing for small households is a sales and rental business similar to apartments and general business facilities, it is important for the building owner to calculate the project's estimated construction duration during the planning stage. Review of literature found a model for estimating the duration of construction of large-scale buildings but not for small-scale buildings such as urban housing for small households. Therefore this study aimed to develop and verify a model for estimating construction duration for urban housing at the planning stage based on multiple regression analysis. Independent variables inputted into the estimation model were building site area, building gross floor area, number of below ground floors, number of above ground floors, number of buildings, and location. The modified coefficient of determination (R_a²) of the model was 0.547. The developed model resulted in a Root Mean Square Error (RMSE) of 171.26 days and a Mean Absolute Percentage Error (MAPE) of 26.53%. The developed estimation model is expected to provide reliable construction duration calculations for small-scale urban residential buildings during the planning stage of a project.

• Land and Housing Review
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• v.2 no.4
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• pp.453-461
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• 2011

This study is to derive a project model based on potential demand for Korean-style houses, focusing on new town detached housing sites that LH supplies and to test validity of the derived model and to present the direction and supply methods of the projects. The existing high-class new town Korean-style housing developments that have been considered were found to have little business value due to problems in choice of location and discordance of demand, so 6 types of projects were established through the methods of changes in planned scale, combined use, and subdivision of plot of land based on the results of survey. The type that has the highest business value among the project models was block-type multifamily houses, and this can be interpreted as the increase in total construction area leading to increase inrevenues of allotment sales due to economies of scale. The feasibility of mass housing model in which small-scale Korean-style houses are combined with amenities was found to be high, and if the same project conditions as those of the block-type multifamily houses are applied, the business value of the Korean-style tenement houses was found to be high. Besides, the high-class housing models within block-type detached housing areas are typical projects that the private sector generally promotes, and the construction cost was found to be most expensive with 910 million won per house. In order to enhance the business value of the Korean-style housing development, collectivization such as choice of location, diversification of demand classes, optimization of house sizes, and combination of uses is needed. And in order to adopt Korean-style houses in the detached housing sites, the adjustments and division of the existing planned plots are needed, and the strategies to cope with new demand through supplying Korean-style housing types of sites can be suggested. Also breaking away from the existing uniform residential development methods, the development method through supplying original land that is natural land not yet developed besides basic infrastructures (main roads and water and sewage) can be considered, and as the construction of more than 1~2 stories building is impossible due to the structure of Korean-style house roof and furniture. So it can be suggested that original land in the form of hilly land is considered to be most suitable to large-scale development projects.