• Plant Journal
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• v.11 no.1
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• pp.30-38
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• 2015

This study is about whether the new Project Finance scheme called "Asset Backed Short Term Bond(ABSTB)" with Project Finance Guarantee Cover provided by Korean Exim Bank(KEXIM) is an appropriate and valid financing structure, through close examinations on domestic and overseas IPP case studies. This study clearly indicates that (i) the interest rate of ABSTB with KEXIM's Project Finance Guarantee is relatively more competitive than the interest rate of other ABSTB guaranteed by EPC Companies (ii) the lower credit rated EPC companies make higher ROE(Return on Equity) through this financing structure. Lastly, Korean EPC Companies can secure profitability through this innovative financing scheme which will also lead to winning more power plant Contracts and become globally competitive.

• Korean Journal of Construction Engineering and Management
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• v.22 no.4
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• pp.20-28
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• 2021

The Domestic Construction Industry is in the process of changing from a one-sided production method centered on the contractor to a production method in which the order and the contractor can collaborate. Depending on the delivery method, the bid/success method, the contract method, and the degree of business involvement of the order may also vary. In this thesis, in order to introduce 'Construction Management at Risk' suitable for the domestic environment, domestic and foreign institutional analysis, bid process analysis, contract fulfillment and management analysis, post management analysis, and related laws and regulations for legalization In order to suggest a plan for the efficient operation of the system, a system and case analysis of domestic and international construction responsibility type construction project management was conducted. 'Construction Responsible Construction Project Management' defined in the Framework Act on the Construction Industry is divided into the main contract transfer contract, which is a service contract performing pre-con work, and the main contract, which is construction project management and construction contract. Therefore 'Construction Management at Risk' should be regarded as one of the ordering methods rather than a successful bid system, as in the case of overseas, and legalization as a bidding system equivalent to design/construction batch bid and technology proposal is necessary for introduction. In order to introduce 'Construction Management at Risk' suitable for the domestic environment, domestic and foreign institutional analysis, bidding process analysis, contract fulfillment and management analysis, and follow-up management analysis are conducted. A method for efficient operation was suggested so that it can be applied in the domestic market while maintaining the original merits of this system.

• Journal of KIBIM
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• v.4 no.4
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• pp.1-12
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• 2014

As interest for visualization and real time processing of construction management information was heightened recently, a diversity of management tools have been developed and corresponding systems also have been changed. In the case of BIM(Building Information Modeling) which is being spotlighted as such kind of management tool, its outcome such as technical innovation and time saving through overseas success case, reducing effect of unnecessary work, and so forth has continuously been established. The BIM in which various information related with life cycle of project are managed with the base of 3D object is useful as an information management tool of construction project which becomes complex and large in its scale. The aim of this paper is analysis or reliability on BIM design for expressway. To solve these issues, this study analyzes the design document, road design handbook, guide. Also this paper performed analysis of reliability 2D vs. BIM quantity calculation. This pilot projects "BIM design at Daegu expressway Lot No.5" lays the foundation for future work on BIM based civil engineering design.

• 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.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.1138-1143
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• 2005

As the importance of building maintenance is being emphasized, studies regarding the efficient building maintenance focus on the evaluation of the maintenance plan, implementation and its cost only while the evaluation of the maintenance performance is nearly ignored. At this point when the importance is placed on the performance design we need to have methods to improve maintenance performance of the buildings in Design Phase. The purpose of this study was to set the design evaluation items to improve the maintenance performance of the buildings. Through the review of the existing literature, we set the concept of the maintenance performance and suggested evaluation items to evaluate the maintenance performance through the analysis of domestic and overseas certification and design guidelines.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.268-270
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• 2015

Overseas countries' government and facility management industries make efforts to ensure precise and fluent data from building information modeling (BIM). In facility management, a large amount of data and information are necessary to continue the process activities. Facility condition assessment, which is performed to make budget plan for the maintenance and operation requires the related facilities' documentation and information. However, it depends on the owner and the user of the facility to provide accurate and complete information to consultant. The problems as follows: (1) owner and user should provide documents and information, and (2) the consultant cannot verify the provided information. To solve these problems, we suggest a methodology to produce the information for FCA through BIM. First, all of the essential documentation and assessment elements are listed. Next, the documents and elements are separated out, whether they are able to be extracted from BIM or not. Then, the list indicates only the data that is linked with BIM. The suggestion is expected to provide the required information through the connection to BIM with accuracy and completeness and to present another BIM application use for facility management.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.357-360
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• 2015

For the last 40 years, the Korean government has built and supplied diverse public facilities. The Korean government, which has supplied diverse public facilities for the last 40 years, has maintained these public facilities as breakdown maintenance under limited budget. Because of increase of aging of public facilities and insufficient budget, it needs the total public facility maintenance. Especially, as Japan has also experienced similar issues and solved these, they are the introduction of P-FM theory and see successful examples. In this study, by comparison Analysis on the Merits and Demerits for Public Facility management (P-FM) between domestic and abroad, it would find a future direction to public facility management P-FM is to go.

• Korean Journal of Construction Engineering and Management
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• v.20 no.6
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• pp.107-116
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• 2019

Korean construction engineering firms want to pave the way for expansion of overseas markets through the World Bank's Official Development Assistance (ODA) projects as a way to improve their overseas project performance. However, since the World Bank project competes with global companies for limited projects, building partnerships with suitable business partners is essential to gain an upper hand in bidding competition and meet the institutional conditions of the recipient country. In this regard, many network studies have been conducted in the past through Social Network Analysis (SNA), but few have been analyzed based on the process of changes in the network. So, This study collected winning data from the three Southeast Asian countries that ended after the World Bank's ODA project performed smoothly, and established a learning-based link prediction model that reflected the dynamic nature of the network. As a result, the 11 main variables acting on building a cooperative relationship between winning companies were derived and the effect of each variables on the probability value of cooperation between individual links was identified.

• Proceedings of the KIEE Conference
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• 2005.11b
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• pp.189-191
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• 2005

In the past, dramatic economical development of Korea could be achieved by well-organized 154kV power system network. Electric power Is a key Industry for the nation and industrial development. Nowadays we operates 345kV Power system with based transmission network and also we are operating 765kV power system to supply to the capital region. Currently developing countries in Southeast Asia are requiring the electric power technology to Korea so that they can acquire the source of the development-power system network. Therefore, it Is important to design transmission line and substation with appropriate methods. In this paper, a calculation and calculating process of shielding range using shield wires in Myanmar 500kV substation are reviewed according to the Myanmar 500kV power system project performed by the overseas projects section of the Korea Electric Power Corporation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.25
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• pp.3-40
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• 2005

Many Korean construction companies have been performing a variety of overseas construction projects since the 1970s. It is unfortunate that in many cases they have had to suffer big losses caused by errors and defects in the design and construction of the projects. In the author's opinion, however, there were losses that could have been avoided if they had understood better the feature and content of the particular construction contract. Few lawyers and scholars in Korea have been interested in the research and study of international construction contracts. This is mainly because they do not have access to practical sources outside of Korea for them to research and study since the contracts undertaken have been dealt with by law firms in other jurisdictions to which the disputes apply. This article is aiming primarily at the introduction of the issues which the practitioners are likely to confront in the process of reviewing and performing the international construction contract. In some cases solutions are sought about these issues based upon the FIDIC standard terms and conditions, the actual experience of practice, and UNIDROIT Principles, etc. It is reasonable to say that all the issues related to the international construction contract cannot be covered in a short article like this. The author wishes this article could induce subsequent studies on international construction contracts for further research. It has to be noted that from time to time Korean construction practices have been compared to the international ones for better understanding. This article mostly includes cases where the Korean construction companies go overseas for their projects, while there are some cases where foreign developers and financial investors participated in domestic projects in which international construction contracts forms were adopted. A few precedent domestic writings about international construction contracts seems to lack emphasis on the points that there are several standard construction contract forms and that they are different. The differences are mainly in accordance with who bears the design responsibility, how the owner has to make progress payments to the contractor and who the funding source for the project is. This article tries to make it clear that there are significant differences between the standard contract forms, e.g. a simple construction form, a design-build form and an EPC/turnkey form of contract. Again, the author hopes that this article can arouse the interest in the international construction contracts from both academic and practical fields, so that many subsequent advanced articles can help our construction industry become much more competitive in the world through awareness of the methods of procurement and administration of the contracts.