• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 한국건설관리학회 2001년도 학술대회지
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• pp.245-250
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• 2001

Nowadays, there has been extreme competition due to market reduction in the domestic construction industry. In this situation, Korean construction companies are focused in the area of planning development housing project, which should maximize profit for a project. The most important step in this project is the business planning stage which judge whether it could come true or not. Each company has its own planning process model, but there hasn't been any standard model for the business planning process. To solve this problem in Korean construction companies, this study identifies the existing business planning process in the domestic construction companies finds out its problems, and suggests solutions for thorn. And Finally a business planning process model is proposed for success in development housing projects.

• International conference on construction engineering and project management
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• The 5th International Conference on Construction Engineering and Project Management
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• pp.141-144
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• 2013

This paper presents a system called a Cash-flow based Construction Schedule Optimization system(CfSO). The existing CPM effectively handles schedule and cost management. However, funding strategy should be considered to obtain maximum profit and to progress a project favorably. One of measures is to coordinate the contract terms between owner and subcontractors (or suppliers). Contractor may decrease the interest cost attributed to project financing by adjusting the timing of cash-inflows and cash-outflows. It is an excellent method maximizing profits. This paper presents a method to estimate the amount of a cash-flow occurred periodically by integrating the terms of contract into scheduling. The proposed method is implemented as a system prototype in Microsoft Excel. This system provides a user an automated tool that identifies an optimal schedule that secures maximum profit by adjusting start and finish times of non-critical activities' free-floats without affecting on the project completion time. This system supports a project manager to establish an optimum project schedule and identifies profitable contractual conditions against to a construction owner.

• KSCE Journal of Civil and Environmental Engineering Research
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• 제37권2호
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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.

• Journal of the Economic Geographical Society of Korea
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• 제20권4호
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• pp.453-485
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• 2017

One of the oldest chestnuts in economic geography is this: Cultural and creative industries strongly gather in large cities and this geographic concentration of economic activities leads to regional development. Of course, depending on the circumstances, such a proposition still holds good. But, under the current paradigm shift to knowledge-based economy, it may be open to question. This study aims to investigate financing and knowledge accumulation in the film industry through an alternative framework for explaining their spatial distributions, "formation mechanism of economic space." From the fact that their production organizations are formed on a project basis, project-based financing structure in the investment stage and knowledge accumulation process in the production stage form both axes of it. Film industry as the most mature industry among the cultural and creative industries does not always concentrate in a certain place (industrial agglomeration) or show metropolis-oriented preference. This allows us to reconsider our long brooding theory.

• Journal of the Economic Geographical Society of Korea
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• 제14권3호
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• pp.263-285
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• 2011

Despite the process of neoliberalization has made a decisive influence on our society as a whole, there seems little interests in neoliberal urbanization and entrepreneurial urban projects promoting it. This study is to see relationships between neolibealization process and recent urbanization and urban policies in terms of entrepreneurial city mediating them. In particular, this paper tries to reconceptualize entrepreneurial city as corresponding to privatization and commodification, financialization, state redistribution, and management and manipulation of crises which Harvey(2005) suggests as four main features of neoliberalization process in general and 'accumulation by dispossession' in particular, and to characterize it in terms of 'creative destruction' and of 'entrepreneurial governance'. As examined in the later part of this paper, recent cases of these entrepreneurial urban projects in S. Korea include volatility of land and housing price in the Capital region and urban regeneration and newtown projects, project for free economic zones construction in Incheon and other 5 regions, project for SOC construction heavily relying on private investment, in particular project financing pursued nationwidely including Daegu, and project of urban cultural marketing to promote capital inflow tacitly as well as to enhance urban imagine explicitly.

• Journal of the Korea Academia-Industrial cooperation Society
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• 제12권8호
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• pp.3766-3776
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• 2011

The redevelopment project implementation difficulties and irregularities of the initial funding has been delayed in Busan. These financing and corruption in order to eradicate the composition of Urban & Residence Environment Improvement Fund. The province's major tax revisions improvement fund finances of City Planning Tax is due to the reduction is difficult to secure additional finances. This study tried to promote the activation of redevelopment in Busan by using Maintenance fund improvement of the institutional constrain As the results of this study, firstly, it is need to convert Metropolitan tax to some urban planning tax in local tax, some improvement fund to general rate among the Metropolitan tax. Secondly, we suggested to support of the practical measures for the operation and maintenance funds systematically, Urban & Residence Environment Improvement Fund the installation and operating ordinance's enactment, to establish a maintenance fund should be operational plan.

• Asia-Pacific Journal of Business
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• 제11권3호
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• pp.21-46
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• 2020

Purpose - This study aims to find if the introduction of project finance perspective leads to any modification to the view of PM industry on CSFs of PPP and their relative importance rank. Design/methodology/approach - Through literature reviews, this study came up with a set of CSFs reflective of both perspectives. AHP method was applied for analysis by developing an Analytic Hierarchical Model from this set and survey questionnaires of pairwise comparison to solicit 46 qualified expert responses. Findings - This study concurs with PM industry to acknowledge 'risk allocation', 'legal framework' and 'quality of feasibility' as ones of most important CSFs. However, relative importance rank of individual CSFs goes through significant modification under this study in favor of 'sponsor commitment and quality' but against 'political environment', in particular. Research implications or Originality - Discussions on the CSFs led by PM industry have not been properly reflective of project finance perspective, which is injected into this study to cure the partiality. For researchers, findings of this study may call attention to financing perspective when they discuss CSFs of PPP. Practitioners may benefit from this study by allocating resources in view of this new finding when pursuing PPP projects.

• International conference on construction engineering and project management
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• The 1th International Conference on Construction Engineering and Project Management
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• pp.862-868
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• 2005

The history of Korea's overseas construction began in 1965, and the cumulative contract amount is about $180 billion over the last 40 years. During the period, Korea's overseas construction industry has played an important role for economic development. However, it seems that the industry is in a sea of trouble. Overseas construction orders have declined due to various reasons such as companies losing confidence, limited financing, lack of competitiveness, and so on. This paper addresses the brief history of Korea's overseas construction industry and the problems that the industry is facing. Then it suggests a few measures for the improvement of the industry.

• KIEAE Journal
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• 제11권6호
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• pp.3-12
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• 2011

Currently, the environmental improvement project in residential building in Korea is focused on financing. To solve the variety of problems in urban residential areas, the plan need to apply more elements to improve sustainability. Thus, this study aims to find the main strategies to amend sustainability of the environmental improvement project in residential building. To do this, firstly I reviewed previous studies of sustainablity. Secondly I surveyed the planning elements of the three cases in Boksu-Dong District2, Daeseong-Dong District2, and Samsung-Dong District1 in Daejeon. Lastly I used the AHP analysis method and the 5-point Likert-type questionnaire of judged the importance among the plan elements with experts on urban regeneration of which is found through the previous literature review. In conclusion, this study shows the problems of the Residential Environment Improvement Project. Also, I found out the priority of the main planning elements to improve the problems. By contrasting the relative importance among the plan elements with the case study, the result of this study implies the directions of strategies which include the plan elements for responding climate change, residents' participation, and financial support program and system to improve the status of the environmental improvement project in residential building.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 한국건설관리학회 2004년도 제5회 정기학술발표대회 논문집
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• pp.423-426
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• 2004

Costs of public rental housing development project consist on various kinds of profits and expenses such as national housing fund, rental cost, construction cost, financing cost. Therefore, project would not be executed without minute management and precise prediction about each item. Cash (low prediction and analysis are necessary to grasp current situation of project, because construction project which is conducted for a long period has fluent risks and inflows and outflows of cash. Although cash flow analysis has been conducted, cash flow has never been expected and managed. General matters to expect cash flow can be known by actual results and literatures. Hut there is no thesis which is studied about risk to enhance precision of expectation of cash flow. As existing thesises studied the risk about whole project, we haven't known precise relations of cash flow and project. Therefore, in this study, we are supposed to analysis and distinguish risk facts which can affect each item of cash flow for precise cash flow expectation and management of public rental housing development project.