• 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.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.05a
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• pp.93-94
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• 2017

This study have derived the big issue of overseas construction through big data analysis. For identification of big issues on overseas construction, domestic online articles, 30 daily newspapers like the JoongAng Ilbo, 7 construction related articles including construction economy and 1,759 local newspapers and small media companies were analyzed from October 1st, 2015 to September 30th, 2016. 13,884 cases in total were used for big data analyses and big issue candidates were identified. The analysis result is as shown below. First, looking into major issues on overseas construction for a year, construction orders in the Middle East decreased because of the drop in oil prices. Accordingly, there were discussions on concerns and crises we may face as profitabilities worsened in overseas construction. Second, analyzing main concern based on 8 key words on overseas construction among construction issues for the last one year, it was found as following: Region (29.4%), Business environment (21.4%), Group (15.8%), Profitability (14.5%), Policy and Institution (7.8%), Market environment (4.2%), Business (project) (4.15%), and Education (3.2%). Third, among 30 issues on 8 key words, 10 key issues that are likely to spread and continue were identified. Then, a semantic network map among key words and centrality were analyzed.

• Korean Journal of Construction Engineering and Management
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• v.15 no.2
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• pp.95-103
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• 2014

From $1960^{th}$ Korean construction industry has been rapidly grown due to Meddle-East construction market growth. To earn foreign currency and to raise overall Korean industry government has encouraged construction frontiers. As construction industry could grow up for its labour based originity but the time passes by and overseas construction market requests engineering know-how and technology for productivity to earn more profit. Over last 20 years overseas construction market share has been dramatically raised but its profit share is gradually declining. This study analyzed data sets of over 180 overseas construction projects for last 30 years of domestic contractor by using multiple-regression analysis and derived an output how input variables of characters explaining the construction project effects its profit.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.742-743
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• 2015

Korean construction industry has developed with national economy growth for a couple of decades. However, because of slump of real estate, the domestic construction industry was intimidated. In this situation, many construction company has no choice but to go abroad to find construction projects. However, almost small or medium-sized construction companies are very hard to operate their business because they have small funding ability and weak labor power. Therefore, this study aims to propose an assessment tool through analyzing risk factors of overseas construction projects for small or medium-sized companies by examining preceding research and interviewing industry experts. Weights of the risk factors are determined through the surveys of the industry practitioners. All of the data is configured into the assessment tool and this converts the quantitative information which leads to the optimal of strategies choice. This paper provides a quantitative measurement of possible performance and detailed assessment of each itemized risk factors. This assessment tool is qualified for industry experts so that it can safely be applied to the future projects. Ultimately, many small or medium sized construction companies will benefit from the tool proposed in this study to examine the potential of the overseas market expansion.

• Korean Journal of Construction Engineering and Management
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• v.19 no.1
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• pp.90-102
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• 2018

In preparation of the increase in the domestic debts and the rise in the US interest rate, the Korean government has started to strengthen the regulation on the property market since 2017. So, it is likely that the sales in the domestic construction market would be decreased. Even in the overseas plant projects market, as there has been the continuous increase in the cost and the resulting increase in the losses, it looks hard for the large construction companies to keep their credit ratings as they are now. This study is designed to check Korean government's property policy and any possible problems caused by the overseas and domestic economic environment, which include the property market policy, interest rate, rise in the property price and lackluster sales in housing market. It showed the change in the credit ratings by finding out the sales, work capability, sales in non-governmental projects, operating profits and PF contingency liabilities. For this study, the questionnaires were sent to 30 practical experts to analyze the effect of the risk factor on the outside credit rating of large construction companies.

• Plant Journal
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• v.6 no.1
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• pp.64-70
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• 2010

From 2000, the world plant market, especially plant developing business related to oil and gas, has been increasing. Domestic construction companies advance to overseas plant construction market actively, and proportioning to this, an importance of utility construction is increasing. However, the project becomes large and high-tech, and many companies experience difficulty of project management due to relatively high risk of overseas construction. In this study, we built the standard process with which domestic company can evaluate the risk of overseas plant utility construction. Primary factors for risk evaluation is derived, classification system is made out, primary factor is analyzed, and counter plan is suggested. And thorough management of risk is performed by risk management organization that manages the risks, risk control methods, reports and monitors through risk sheet and risk action log from the start of project to the end.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.811-819
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• 2023

Understanding the local conditions is a crucial factor in enhancing the success potential of overseas construction projects. This can be achieved through the analysis of news articles of the target market using topic modeling techniques. In this study, the authors aimed to analyze news articles using two topic modeling methods, namely Latent Dirichlet Allocation (LDA) and BERTopic, in order to determine the optimal approach for market condition analysis. To evaluate the alignment between the generated topics and the actual themes of the news documents, the research collected 6,273 BBC news articles, created ground truth data for individual news article topics, and finally compared this ground truth with the results of the topic modeling. The F1 score for LDA was 0.011, while BERTopic achieved a score of 0.244. These results indicate that BERTopic more accurately reflected the actual topics of news articles, making it more effective for understanding the overseas construction market.

• International conference on construction engineering and project management
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• 2017.10a
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• pp.159-166
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• 2017

Recently, the wooden structure has been revived again as an eco-friendly structure technique. It is the counterattack of the wood material, which has become more recognized as a finishing material pushed by the concrete material in the rapid growth after the Industrial Revolution. However, it is difficult to conclude that this is a tendency of the construction market in the whole country. Perhaps this is a tendency to appear more strongly in Korea. It could be seen by comparing the characteristics of the overseas construction market with Korean's and the advanced constructed case of large-scale wooden structures in overseas. National wooden buildings show own characteristics such as construction methods, materials, and member dimensions of wood structures by country, which could be seen as a result of continuously developing their own technology. However, in Korea, despite its unique wooden structure and technology (Hanok; Korean traditional housing), it has not been developed continuously and treated it only as a living building exhibit. This is evidenced by the fact that only one percent of the building is constructed with traditional wooden building technology. Therefore, there are various efforts to modernize the traditional wooden structure technology, but it still does not reach the level of advanced wooden technology abroad. The characteristics of the Korean wooden building market were analyzed in order to suggest ways to develop the Korean wood structure technology. The characteristics of Hanok construction were analyzed through quantitative criteria to define the main development tasks for Hanok development to propose the long-term development path.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.317-321
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• 2006

Construction companies do not take necessary steps for sudden change in the Construction market, In order to over come the problem, it is necessary to make Corporate Strategy through correct Market analysis. If construction companies want to secure continuance profits, they must prepare proper strategy to advance into plant market. This research performs both external and internal environment analysis, External environment analysis is for overseas construction market and advanced foreign companies, and internal environment analysis is the current status of domestic companies. The research identifies some of the Key points, growth in foreign plant market is huge, but domestic companies do not have abundant construction experience on the same field and also they lack in high value-added techniques. They are far behind the advanced companies; they don't have proper skills of Procurement, engineering and project management. This study suggests a strategy for domestic companies to take necessary step to advance into plant construction market.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.408-413
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• 2006

Recently, the economic trend of internal enterprises toward the world market appears to exceedingly associate with industrial plants. Such circumstance would limit the diversity of project items and cause various issues of extreme disproportion of overseas construction market at the same time. Consequently, it seems essential to inspect the present state of bookings in the civil engineering and construction fields including the service corps, regarding the former period (from the year 1990 to 1996), the depressed period (from 1997 to 2000), and the latter period of monetary crisis (from 2001 to July 2006), based on the critical situation in foreign exchange occurred in the late 1990's; also important to look into the shifts of the representative items in such fields by regional groups of principal nations throughout the world. Therefore, the current situation of bookings in overseas construction companies should be clarified, and ultimately, appropriate measures should be established.