• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.50
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• pp.215-250
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• 2011

Korean won overseas construction projects worth 71.6 billion US Dollars in 2010, which exceeded that of 2009 by 45.6%. An overseas construction project is a transaction of large scale, long term project, many parties participating, deferred payment, and of high-technology. It contributes to foreign currency earning, and also leads the nation's export restructuring work towards high value-added one. There are various kinds of risks towards the relevant parties respectively, which are key elements in successfully performing the overseas construction project. There are completion risk, financing risk, operating risk, revenue risk etc, in an employer's place. A contractor may be confronted with payment risk, issuance risk of performance bond, financing risk, performance risk of sub-contractors, and exchange rate risk. In lenders place there are repayment risk, completion risk, and political risk in the host country. In order to mitigate risks, the parties shall take relevant measures or require relevant securities. A contractor needs to evaluate the credibility of an employer in respect of payment risk, and can also request export insurance cover by the Korea Trade Insurance Corporation(the former 'Korea Export Insurance Corporation"). An employer can require a contractor to provide performance bond in respect of completion risk, and employ a well-known first class bank as a mandated arranger to arrange financing with regard to completion risk. Lenders needs to evaluate the credibility of an employer and accomplish feasibility study of the project. Lenders can request insurance cover from export credit agency. Once the parties assess the respective risks and obtain relevant securities, the project will be successfully completed. The success of the project will be sure to bring the parties involved enormous profits and another opportunity to participate in overseas construction project afterwards.

• Korean Journal of Construction Engineering and Management
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• v.19 no.6
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• pp.135-143
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• 2018

Normally there is a one-time relationship between stakeholders in the construction projects. Thus, project participants are easily exposed to opportunistic behavior. According to the theory of transaction costs, a contract effectively influence the behavior of counter-party. The important role of contracts in limiting opponent opportunistic behavior has been academically acknowledged and studied in inter-firm relationships. The purpose of this study is to reveal the mediating effect of the contract on the power of the contractor in the contractor's behavior. Power is divided into mediated and non-mediated power. We surveyed construction companies' employees who have conducted construction projects. Based on the questionnaire response, we examined the influence of the Employer's power on the behavior of the contractor. Both non-mediated power and mediated power were significant for in-role and out-role behaviors. Both non-mediated power and mediated power were found to have a significant effect on the control and coordination function of contracts. The results show that the control function of the contract is significant for the in-role behavior and the extra-role behavior. Finally, the mediating effect of the contract function was significant only in the control function.

• Journal of the Korea Institute of Building Construction
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• v.3 no.3
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• pp.113-120
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• 2003

The purpose of this thesis is to provide an appropriate trade-off information for the conflicting interests caused by the various factors between building owner and contractor during selecting the contractor and performing the construction work, in which the construction was contracted by open bidding from the government or private organizations. In order to propose the legitimate evidence, the differences between the domestic contract sheet of drawing change and the process of drawing change and those of the foreign countries were compared and analysed. The number of construction ordered in Youngdong area in 2001 whose construction expenses are more than 100,000,000 won is 218 items and 147,005,000,000 won in total cost. Among them, the number of 218 items whose total cost amounts to 16,705,000,000 (11.36%) is in case of increase of construction expenses due to the drawing changes, and the number of 48 items whose total cost amounts to 2,009,000,000 won (1.37%) is the case of decrease. In conclusions, the contractor could have more benefits than the building owner in case they submit the detailed estimate sheet without eliminating the increasing expenses of construction. It is shown that the building owner's loss is increasing whenever the labor cost is higher than material cost. Therefore, this thesis proposes a proper standards for the harmonious compromise between the contractor and the building owner for the problems caused by the drawing changes when the contract agreement is occurred.

• Korean Journal of Construction Engineering and Management
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• v.4 no.1 s.13
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• pp.122-130
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• 2003

Nowadays, as construction projects become bigger, the probability of construction accidents is higher than any other day. When construction accidents break out, we may suffer from the loss of life and property. For preventing these damages, there is lawed that some public constructions have to insure Contractor's all risks insurance policy (CAR), However, CAR is used to preventing the insured from the loss of construction accidents, it is debated that the premium rate of CAR is not fair to the insured (contractors) The objects of this thesis are as follows Firstly, the fairness of the premium rate of CAR is reviewed, and then the amount of risk of the insured evaluates and applies to the premium rate. Secondly, the development direction of components for evaluating the amount of risk of the insured is presented in the research. Lastly, how to use the team which assesses the risk of the insured and construction works is proposed for deciding reasonably the premium rate of CAR

• Journal of the Korean Institute of Gas
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• v.19 no.4
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• pp.15-21
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• 2015

Looking at the large and small fire, explosion, or release accidents that occurred recently, we can see that the accident of subcontractor workers has been increased in the contractor workplace while a harmful or dangerous maintenance works. In this study, the actual status of subcontractor's safety management was examined by using the questionnaire to the contractor who submitted the process safety report. In order to improve the safety management of subcontractors, the responsibility and rational role-sharing between the contractors and subcontractors were reviewed. Also, Providing safety and health information and worker protection measures during maintenance were investigated. The results of this study can be used to help strengthen and improvement safety management of the subcontractor at the time of a hazardous or dangerous works. In addition, it will be utilized to reduce industrial accidents and to build mutual cooperation relationship between contractor and subcontractor.

• The Research Journal of the Costume Culture
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• v.7 no.6
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• pp.41-53
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• 1999

Fashion marketing channels experience conflicts inevitably because of constant interaction among fabric producers, apparel manufacturers, contractors, and retailers. However, it is rarely that attempts has been made to identify causes of conflicts in distribution channel of fashion industry. The purpose of this study was to explore causes of conflicts from the standpoint of a contractor. For this study, data were collected from the owner or the manager represented with a contractor in fashion maketing channels. By means of in-depth interviews with multiple informants, their statement was analyzed qualitatively. From analysis of the resulting data, the causes of conflict were associated with two broad sets, attitudinal and structural differences between apparel manufacturers and contractors. First, attitudinal sources of conflict were identified as perception of subordinated relationships between channel members, delayed announcement on order changes, difficulties in communication by using different terms, different expectations between channel members in controlling product quality, and lack of credit in inspecting products. Second, structural sources of conflict involved unilateral decision on wages for contracting, lengthy payment period derived from a bill of credit, deficient autonomy in selecting auxiliary suppliers, unreasonable issues on lead time, and unfair transaction in selecting a contractor or inspecting finished products. There are limitations on generalization due to the results based on interviews, but this study will be a useful exploratory step before designing a large scale survey.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.12 no.4
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• pp.145-155
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• 1992

The objective of the study is to evaluate the effect of variabilities (uncertainties) in materials and testing on contractor payment and to suggest a base for adjusting the unsuitable specification. Most commonly used acceptance plans were used to estimate payment using simulation. Simulation results that were graphically illustrated by means of operating characteristics (OC) curves in terms of expected payment showed that contractor received a reduced payment due to intrinsic sampling and test variabilies. The most significant reduction was caused due to relatively large magnitude of the testing variability. Therefore, the tolerance range in acceptance plan should be revised as compared with typical testing variability.

• Korean Journal of Construction Engineering and Management
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• v.6 no.4 s.26
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• pp.91-100
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• 2005

Design-build that a single entity performs whole construction process under singular responsibility is one of the project delivery system comes to take expectation effects of time savings, cost saving, and quality assurance. On the other hand, a current domestic method for selecting a design-build contractor is difficult to reflect the purpose of owner and the project characteristics when owner selects the design-build contractor. The purpose of this research is to suggest a model for deciding evaluation weights in design-build which can reflect the purpose of owner and the project characteristics. This research can help owner to select the best suitable design-build contractor for the project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.370-375
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• 2004

The management of daily work report is very important due to the variety of work trade and activities. Although various project management systems have been developed to effectively deal with various task in site, they are not in practical use due to the non-coorperative attitude of sub-contractors. This is the reason the system are not developed in the focus of sub-contractors, but main contractors and the detail information about daily work report is omitted or lost in the collection process by contractors. Therefore the purpose of this study was to propose the Web-based coordination system for daily work report between contractor and sub-contractors

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.337-340
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• 2001

Construction market structure give to third subcontract from contractor that received bid. A general contractor is subcontract to subcontractor that construct final product. When the subcontractor is related with productivity on the site, a study is lack to subcontractor productivity. The property of construction industry include many subcontractor at one project. If a subcontractor will improve productivity, total productivity would improve on the site. We will understand about subcontractor productivity and suggest about productivity method.