• KEPCO Journal on Electric Power and Energy
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• v.3 no.1
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• pp.49-56
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• 2017

In order to examine the feasibility of Carbon Capture & Sequestration, a major technological strategy for the national goal of greenhouse gas reduction, this paper studies the various methods and corresponding costs for the transportation of $CO_2$ captured at the domestic thermal power plants, as well as performing comparative analysis with overseas CCS demonstration projects. It is predicted that the investment cost would be about 98 million USD when the using land-based pipelines to transport captured $CO_2$ from the thermal power plant located in the south coast. And using marine-based offshore pipelines, it will cost about twice the amount. When the captured $CO_2$ is transported from the power plant in the west coast instead, the cost is expected to increase substantially due to the transportation distance to the storage site being more than double to that of the south coast power plant case.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.48
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• pp.127-155
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• 2010

The international transactions of capital goods such as industrial plant exports, overseas constructions, and shipbuilding exports, are so huge that tremendous amount of funds are required, and that most of the loans are long-term credits of over five years. In the export of huge capital goods, financing is more crucial than technology itself. Some of the importing countries are developing ones that are politically and economically unstable. Therefore the financing mechanism for these transactions is conclusive in winning these projects. Global financial market instability caused by US sub-prime mortgage financial crisis expanded all over the world, and the international transactions have been decreased due to global credit crisis. This indicates how much influential the financing market is in international transactions. The financing schemes are classified into supplier credit and buyer credit by who provides the financing. A supplier credit is a credit extended by an exporter(seller) to an importer(buyer) as part of an export contract. Cover for this transaction may be extended by an export credit agency('ECA') to the exporter. In a sales contract a seller shall provide fund required to manufacture goods, and in a construction contract a contractor shall provide fund required to complete a construction. A buyer credit is an arrangement in which an exporter enters into a contract with an importer, which is financed by means of a loan agreement A Comparative Study on a Supplier Credit and a Buyer Credit in International Transactions of Capital Goods 155 where the borrower is the importer. In a sales contract a buyer shall provide fund required to manufacture and procure the goods, and in a construction contract an owner shall provide fund required to complete a construction. Therefore an exporter is paid on progressive payment method. A supplier credit and a buyer credit have their own advantages and disadvantages in the respect of the parties respectively. These two financing methods are selectively used considering financing conditions such as funding cost, importer's and/or exporter's financial conditions, importing country's political risk.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.6297-6304
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• 2015

Nuclear power plant decommissioning has attracted attention according to the shutdown decision of Kori 1 which is Korea's first nuclear power plant. Nuclear power plant decommissioning is the one who never experienced ever in our country. So, its process is difficult and time-consuming. In addition, it is difficult to determine the decommissioning quantity. This study proposed the plan that can be used in quantity take-off for nuclear power plant decommissioning using BIM technology being utilized in recent construction industry. As a result, we suggested the method of BIM-based quantity take-off such as the selection decommissioning method and process, setting up of BIM modeling environment, establishment of OBS & WBS, integrated BIM modeling, the definition of quantity property. The proposed plan can be utilized usefully from when permanent stopping nuclear power plant occurs intensively. Furthermore, the overseas nuclear power plant decommissioning project order also are expected through technology securement based on this plan.

• Korean Journal of Construction Engineering and Management
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• v.17 no.1
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• pp.18-27
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• 2016

The purpose of this study is to classify main risk factors on a construction phase of a plant project and analyze importance by the risk factors. Plant Industry is continuing boom and the increase in overseas plant orders in 2014 has showed a performance increase of 61% of the total orders, as the plant industry are risk factors for the construction phase, safety management target recognition and variety of accident prevention and safety factors by importance, etc. a situation that requires the development and introduction of management. So, it is performed that collected disaster conditions data on a construction phase of a plant project, is questioned by plant construction professional and is classified by 4M. Then, it is performed that is questioned by plant construction and safety professional in order to apply AHP method, and is presented from analyzing the risk factors, which are results of the survey, by importance and priority. This study will recognize from identifying the main risk factors in advance and will be utilized as a basic data is to prevent the risk factors.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.519-522
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• 2007

China infrastructure construction market has huge potential for increased use of PPP/BOT mode and one of the most attractive markets of doing business. However, there are still a multitude of challenges for overseas EPC contractor to enter into the China PPP/BOT market both internally and externally. Especially, the construction legal system and relevant policies are considered at present the biggest barriers in accessing China construction market. Therefore, the main purpose of the paper is to identify the impact of the construction laws, regulations and BOT-related policies on the viability of foreign contractor-led BOT project in China. To the satisfaction of the purpose, this paper will first analyze China construction laws based on the key issues that must be tackled by foreign EPC contractor before they enter into China. This summary gives the possible contract scheme for a BOT project of interest in which foreign contractors could define the scope of works and measure the viability of the project. Finally, a case study of wastewater treatment plant BOT project in China subsequently illustrates some of the lessons learned from the foreign contractor's perspectives for successfully participating in future environmental market in China.

• Korean Journal of Construction Engineering and Management
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• v.17 no.4
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• pp.12-19
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• 2016

Recently, The importance of modular construction method has increased by market environmental change. However, it's application in the actual project is restricted due to the lack of understanding of modularization and the absence of utilization system. To overcome this problem, this study propose the decision-making model for selecting modular or conventional (stick-built) construction method at early stage. First the needs of modular method in plant project is derived and the benefits and barriers of modular construction are analyzed through literature review. Based on this analysis, 6 decision-making factors covered project and modular characteristics are derived and the decision-making model is developed. Finally, 12 actual overseas project cases is evaluated by this model for verifying its applicability. This proposed model can provide the guideline to select the construction method in early stage for successful execution of plant project.

• Journal of the Korea Institute of Building Construction
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• v.24 no.2
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• pp.273-284
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• 2024

This study investigates the impact of international oil price fluctuations on overseas construction orders secured by domestic and foreign companies. The analysis employs statistical data spanning the past 20 years, encompassing international oil prices, overseas construction orders from domestic firms, and new overseas construction orders from the top 250 global construction companies. The correlation between these variables is assessed using correlation coefficients(R), determination coefficients(R²), and p-values. The results indicate a strong positive correlation between international oil prices and overseas construction orders. The correlation coefficient between domestic overseas construction orders and oil prices is found to be 0.8 or higher, signifying a significant influence. Similarly, a high correlation coefficient of 0.76 is observed between oil prices and new orders from leading global construction companies. Further analysis reveals a particularly strong correlation between oil prices and overseas construction orders in Asia and the Middle East, potentially due to the prevalence of oil-related projects in these regions. Additionally, a high correlation is observed between oil prices and orders for industrial facilities compared to architectural projects. This suggests an increase in plant construction volumes driven by fluctuations in oil prices. Based on these findings, the study proposes an entry strategy for navigating oil price volatility and maintaining competitiveness in the overseas construction market. Key recommendations include diversifying project locations and supplier bases; utilizing hedging techniques for exchange rate risk management, adapting to local infrastructure and market conditions, establishing local partnerships and securing skilled local labor, implementing technological innovations and digitization at construction sites to enhance productivity and cost reduction The insights gained from this study, coupled with the proposed overseas expansion strategies, offer valuable guidance for mitigating risks in the global construction market and fostering resilience in response to international oil price fluctuations. This approach is expected to strengthen the competitiveness of domestic and foreign construction firms seeking success in the international arena.

• Journal of the Korea Institute of Building Construction
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• v.9 no.6
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• pp.151-159
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• 2009

Recently, overseas construction projects have been increasing in the Middle East and Southeast Asia regions. These projects require various licenses and technologies for the manufacturing and handling processes. Additionally, the efficiency of the entire process management life cycle determines the success or failure of the business. Nonetheless, there exist various risks involved in the whole life cycle process due to a lack of experience and knowledge of management techniques. The objective of this paper is to analyze the business process of a LNG plant throughout the pre-construction and procurement phases, and to identify the knowledge and information needed for the development of the KMS. The study also plans to build a comprehensive knowledge management system throughout the whole life cycle as its final objective.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.991-994
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• 2007

Since the year of 2003, the overseas plant market has grown by an average of 6% per year. It is because of the increase of oil-money, economic growth of BRICs, and the result of heavy competition among the countries which demands a great amount of resources for the purpose of resource securing. Such a situation is expected to be continued for a while. The procurement is one of critical functions for successful completion of a plant project. For effective procurement, it is required to manage vendor's information efficiently. But most of the vendor management systems deal with simple general information and performance data about vendors. In this sense, this paper proposes a vendor management system which can be used within a decision-making system. The system uses existing DB and makes the close relationship with the vendors. This paper will also reduce risks and difficulties in the process of selecting the proper vendors and will increase efficiency of procurement process in electronic bidding between companies.

• Journal of Environmental Impact Assessment
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• v.26 no.1
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• pp.78-92
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• 2017

Environmental impact assessment(EIA) on the construction and operation of thermal power plant(TPP) is aimed at promoting sustainable coastal development by clearly identifying the marine physics and organisms effects of the project on the surrounding marine environment and minimizing its impact. The primary purpose of this study is to establish EIA guidelines for TPP in order to assess how TPP construction projects influence marine environment and to establish the mitigaion plans of environmental impacts. Through this study, scientific and efficient EIA guidelines for the marine environments were established by a specialist forum consisted of officials from the Ministry of Environment and the Ministry of Trade, Industry and Energy, personnel from five public corporations in charge of TPPs and marine environment experts. In the study, fifteen EIA reports (2009~2015) on TPPs submitted were analyzed to identify the shortcomings of current assessment items on marine environment and to collect a wide range of information including EIA report formulation regulations, domestic and overseas environmental survey guidelines and EIA review comments on TPPs. Based on the findings, a specialist forum put together EIA guidelines for TPP construction projects.