• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.3-11
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• 2015

The current real estate market is in a state that is considerably shrink due to the recession and long-term reduction of trading. In response, the government recently announced an innovative way for the middle-class residential housing and it is taking the lead to activate the real estate market. Meanwhile, the domestic housing market is entering a transition period, including structural changes of household structure, changes from joeonse to rent increasingly. Also single-member households will rise steeply, so that makes the high demand of small houses. In addition, the domestic construction industry is interested in new technology called Modular building. The Modular construction is an off-site construction system that shorten construction period, eco-friendly building technology and mobility etc, which can be used in various field. Overall, there are two major issues of the current market, one is the change of the real estate market, and the other is the modular construction. This study will propose modular business model in the rental market through the analysis the profitability of the modular business scenarios and IRR analysis.

• Korean Journal of Construction Engineering and Management
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• v.14 no.2
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• pp.171-183
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• 2013

Domestric Construction & Engineering market has been long in recession due to the global economic crisis. Domestic construction industries consequently looks at overseas construction markets where relatively more construction projects are constantly required. In order to provide meaningful information for Korean engineering companies to keep the pace with the changes in the construction industry, various construction related date and statistics are analyzed. In addition, previous research from the related organizations and construction engineering companies are closely reviewed. Investigation of preliminary data and research have been conducted to draw remedies for their overseas expansion. Moreover, it is attempted to classify foreign markets as the Asia, Africa and etc. (Europe, North America/the Pacific and Latin America) to provide the list of first target countries and its regional market information focusing on their bidding system. This study had tried to show comparative analysis of different bidding procedures between Korea and the selected countries to suggest measures of improvements for the domestic bidding system. Finally, this study suggested policy recommendations to meet the requirement of bid qualification to advance the global market that was suggested with validated clustering bidding data.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2015.05a
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• pp.107-108
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• 2015

It's became essential that Korea construction companies should enter into the overseas construction market for their growth and sustainability. In order to comply with the client's required global standard and to compete with in the international market, the shifting the construction project management system to global level is required. In accordance with the demand, this paper proposes the top-level document of construction project management system as a to-be model that utilized in overseas construction projects. The project management plan ("PMP") suggested in this paper is not only the most appropriate one, which complies with the global standard, to be used when companies bid for international construction projects against foreign competitors but also has the process modeling and hierarchical structure.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.49-50
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• 2015

Since the mid-2000s, Korean large-sized construction companies have pursued in earnest to expand their business to global construction market in surroundings that domestic market have a continuous and long-term stagnation. However, during last a few years, they have experienced the serious financial loss from international projects. In the meantime, for the sound improvement of Korean construction industry, many stakeholders long for efficient early warning signals to generally monitor and track the potential risks of international projects. In this study, we introduce an International Project Risk Index (IPRI), which is derived from massive data provided by large-sized companies, and expect to provide the practitioners and decision makers as an aid to proactively cope with the change of the potential risks. The outcomes from the IPRI can be utilized to prepare a timely management strategy and to establish an appropriate government support regulation.

• Journal of the Korea Institute of Building Construction
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• v.11 no.6
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• pp.609-617
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• 2011

For the past several decades, the residential housing market has been led by construction firms rather than consumers; in essence, it has been a suppliers' market. However, the market is experiencing a transition to a buyers' market, the implication of which is that there will be increased competition among the residential building suppliers. For this reason, it is necessary for construction firms to prepare new strategies to respond to the rapidly changing market environment. Furthermore, consumer satisfaction should be valued more highly than in the past, and should be a baseline in formulating construction product development strategy. For the pre-classified 13 apartment building segments, questionnaire surveys are conducted for the 50 CS (Customer Satisfaction) experts to evaluate their perceptions on the weighing of the quality of each apartment segment. Data obtained from a survey of experts was analyzed from an industry perspective utilizing the AHP technique. Analysis results indicate that the CS experts valued the kitchen & dining area more highly than all other segments. Specific analysis results and implications drawn from the study can be a valuable basis for marketing, product development, and quality management.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.534-541
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• 2011

Risk evaluation approaches for bidding on international construction projects are typically partitioned into three stages: country selection, project classification, and bid-cost evaluation. However, previous studies are frequently under attack in that they have several crucial limitations: 1) a dearth of studies about country selection risk tailored for the overseas construction market at a corporate level; 2) no consideration of uncertainties for input variable per se; 3) less probabilistic approaches in estimating a range of cost variance; and 4) less inclusion of covariance impacts. This study thus suggests a three-staged risk evaluation model to resolve these inherent problems. In the first stage, a country portfolio model that maximizes the expected construction market growth rate and profit rate while decreasing market uncertainty is formulated using multi-objective genetic analysis. Following this, probabilistic approaches for screening bad projects are suggested through applying various data mining methods such as discriminant logistic regression, neural network, C5.0, and support vector machine. For the last stage, the cost overrun prediction model is simulated for determining a reasonable bid cost, while considering non-parametric distribution, effects of systematic risks, and the firm's specific capability accrued in a given country. Through the three consecutive models, this study verifies that international construction risk can be allocated, reduced, and projected to some degree, thereby contributing to sustaining stable profits and revenues in both the short-term and the long-term perspective.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2005.11a
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• pp.191-195
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• 2005

Till now, the roles of a tradition market were a circulation of the necessities of life, a employment market of local society, a center of community, and a main structure of local economy. Recently, these tradition market is on the decline because it couldn't cope with the internal and external changes. It is recognized that these phenomenon is a factor of economy unbalance. So, to activate the local economy, tradition market should be promoted. Therefore, external changes such as the increase of competition intensity and the changes of consume pattern, internal changes such as the deterioration of facility and old fashioned management were analysed. The activation plan of traditional market were suggested through the decision index for the tradition market in this study.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.6
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• pp.2529-2539
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• 2013

The Korean construction industry has led the miraculous economic boost of Korea by providing solid domestic infrastructures such as highway, roads, and airports. It also played a critical role in global construction market and eaned more than 500 billions dollars in terms of their accumulated international orders. However, domestic construction market has significantly decreased in recent years due to the domestic political environments and global economic crisis. Therefore, the importance of international construction market cannot be more emphasized to the Korean construction market in order for the sustainable growth. There has been, however, little research in the area of identifying required competency elements for the Korean construction industry to stay successful in the global market. The main purpose of this study is to identify elements of core competency to increase global competitiveness for Korean construction industry. Core global construction competency elements were derived from the internal and external environmental analyses along with the extensive literature review, expert interviews and a survey. This study utilized the Importance-Performance Analysis (IPA) and a gap analysis in providing insights on the status competitiveness of the Korean construction industry in terms of required global core competency elements. The analysis shows that project management and financial management are the main areas for improvements required to engineering contractors while construction contractors need to take a more balanced approach among technical, project management, and financial management in order to increase their global competencies.

• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.391-402
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• 2022

With the number of social overhead capital(SOC) projects that introduce private capital on the rise, overseas construction global companies today need to establish and advance their overseas order strategies. In this context, the purpose of this study is to develop the public private partnership(PPP) capacity evaluation model for developing countries and use it for domestic overseas construction companies to establish strategies for overseas expansion. The PPP competency evaluation model analyzes the importance of PPP competency evaluation items and infrastructure environment competency evaluation items through a review of previous studies and an interview survey with overseas construction experts. Through the above analysis results and expert surveys, problems that may occur when overseas construction companies enter the PPP market were derived, and improvement measures were proposed. Countries with a high probability of overseas construction companies entering the PPP market were determined to be those that have a mature PPP system, low risk in construction, and a good entry environment with a high infrastructure market size and growth rate. In addition, a lack of PPP investment experience, the absence of information on the infrastructure environment, and a shortage of PPP experts were identified as problems when entering the overseas construction PPP market. As an improvement measure, it was suggested to enter in cooperation with domestic and foreign companies. In addition, a plan was proposed to develop a curriculum to secure experts in areas such as PPP finance and contracts and to provide PPP information for each country. These findings are expected to contribute to overseas construction companies proposing strategies for entering the overseas construction market and using them for overseas expansion strategies and policy establishment.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2011.11a
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• pp.87-88
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• 2011

Construction projects that should be under the construction supervision regulation were decreased in 2008 and new supervision projects in 2010 were significantly reduced by 60% comparing to the ones as of 2009. On the contrast, the volume of world construction projects including Middle·South Asia and Africa is forecasting to be increased by 46% in 2018. However, although the needs of oversea expansion of domestic construction supervision firms are appeared more and more, their preparations to the strategically important areas in the world are insufficient. Thus, this paper aims to suggest directions of strategics and plans for domestic construction supervision industry to expand the market to the world through questionnaire surveys and expert investigation.