• Journal of the Architectural Institute of Korea Structure & Construction
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• v.35 no.1
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• pp.47-56
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• 2019

As the zero interest rate era was over with the end of quantitative easing, the economy of several global markets observed the fluctuations of the base interest rate. Interest rate, which is the change of money value with respect to time, is negatively correlated with construction investment. Considering the characteristics of interest rates and construction investment as economic variables, the necessity of cross-border analysis between base interest rate and construction investment was suggested in this paper. Cross-correlation analysis between base interest rates and construction investment crossing the border was performed. The effective correlations were confirmed with values varying by countries. Similar characteristics were also observed among countries with similar economy, which were then divided into three groups. Additionally, identifying the base interest rate that affects the construction investment of a particular country was made possible by reflecting a self-cycle of base interest rates. Lastly, from the result of examining the influence of each rise and fall of the interest rate, it was verified that the difference was more than twice as large in some countries. These results are expected to contribute to construction-related policy makers or investors to make decisions in response to the economic status of the construction market.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.343-344
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• 2023

In order to expand its entry into not only the domestic construction market but also overseas global markets, it is necessary to secure technological competitiveness, and as a fundamental measure, it is necessary to increase the proportion of R&D investment and establish and revitalize R&D organizations. Therefore, the purpose of this study is to analyze construction sales and construction R&D investment for global construction companies in Korea and Japan, derive implications, and provide basic data for government policy establishment and global construction company strategy establishment. As a result of analyzing R&D investments in construction companies in Korea and Japan, it can be seen that Japanese construction companies have higher R&D investment costs compared to sales compared to Korea. In particular, the proportion of R&D investment continues to increase year-on-year, strengthening global competitiveness due to technology development. In addition, Japanese construction companies have established a technology research institute to discover and conduct future R&D research such as advanced IT, disaster prevention, and environment.

• Proceedings of the KSR Conference
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• 2008.11b
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• pp.112-116
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• 2008

Determining the investment priority of the railway project is essential to keep its object of railway investment. [National railway construction plan] provide 4 major evaluation indicators and their weighting range in determining the investment priority of railway construction. Which are investment efficiency, inter-regional balance of development, network effects, government supporting policy. However this present criteria has inconsistency in determining economical feasibility of the railway transportation when applying the same evaluation indicator, investment efficiency, with the road transportation. The railway transportation is superior to road transportation in terms of transportation capacity and distance, while offering less carbon emissions. In spite of the prominent position of the railway transportation, it can be failed to obtain its proper investment priority when being determined under economical feasibility based. Therefore, this study analyzed the inconsistency under present evaluation criteria and proposed new evaluation method for the investment priority of the railway construction using AHP(analytic hierarchy process), while differentiate from the road construction. This method is optimized for only determining the priority of the railway construction itself under object of railway investment respectively.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.281-287
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• 2020

In capital budgeting practices, investment project evaluations based on the net present value (NPV) and the internal rate of return (IRR) represent the traditional evaluation techniques. Compared with the traditional methods, the modified internal rate of return (MIRR) gives the opportunity to evaluate an investment in certain projet, while taking the changes in cash flows over time and issuing shares such as dividing shares, bonuses, and dividend for each end of the investment year into account. Therefore, this study aims to evaluate an investment in the Malaysian construction sector utilizing financial data for 39 public listed companies operating in the Malaysian construction sector over the period from Jan 1, 2007, to December 30, 2018, based on the MIRR method. Stochastic was studied in this study to estimate the estimated probability by applying the Markov chain model to the MIRR method where the transition matrix has two possible movements of either Good (G) or Bad (B). it is found that the long-run probability of getting a good investment is higher than the probability of getting a bad investment in the long-run, where were the probabilities of good and bad are 0.5119, 0.4881, respectively. Hence, investment in the Malaysian construction sector is recommended.

• IE interfaces
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• v.12 no.3
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• pp.414-423
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• 1999

A nuclear power plant requires a huge amount of initial investment and long construction lead time. As we expect that there may exist a relationship between investment and construction lead time, a number of researchers have reported that nearly a half of investments is incurred due to time factors such as the time value of money and inflation or escalation rates. Therefore, we investigated in this paper a relationship between the initial investment and the construction lead time of a nuclear power plant construction, and proposed a method for a trade-off analysis between the annual equivalent worth and the investment alternatives to reduce the construction lead time. Finally, we presented a real case to numerically explain the steps of the method presented in this paper.

• Proceedings of the KSR Conference
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• 2004.10a
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• pp.965-970
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• 2004

The private investment on the SOC facilities is a worldwide tendency since it can supplement the insufficient investment of public finance in the construction of infrastructures. Alter the formulation of private investment law, private sector's investment on roads, harbors and environmental facilities are being progressed considerably. However, railway construction by private sector is not active comparing to the former areas because of huge investment for construction but relatively low and unpredictable benefit in operation. This paper reviews the financial, social and institutional aspects on the private investment for SOC projects, especially railway projects. Also, this paper tries to find the desirable way to expedite the private investment on railway project,. Conclusively, the paper propose that the private sector in railway projects is better constituted with financial investor and the private financing could be. activated and settled if a stable minimum benefit on their investment being ensured institutionally, for example, by BTL.

• Journal of the Korean Society of Safety
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• v.19 no.4 s.68
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• pp.117-122
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• 2004

The investment for industrial disasters prevention can not help but get accomplished in negative way. At this point, the most effective way to diminish industrial disaster outbreak is the very subject should strive to prevent it by itself However, it's still the times that we place more weight on economic development no economic subject would not positively self-participate in it for the investment for industrial disasters prevention without my effect of numerical reduction. In this view, this study will tv to entirely analyze and grasp the economic toss due to industrial disasters at construction sites, and will present the most suitable safety-investment. As a result, in domestic construction sites, averagely $1.6\~2.6\%$ of the entire construction expenses had been invested for safety expense. The according to the result of the analysis, basically this safety investment expenses should be spent $2.4\%$ over to reduce the saffey-accidents stably.

• Journal of the Korea Institute of Building Construction
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• v.8 no.2
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• pp.53-61
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• 2008

It is expected that the market of residential facility for retired seniors will be a new investment field for construction firms. This study describes the questionnaire survey analysis results of potential customers' demand for the facility. For comparison purpose, direct construction cost was estimated by estimation experts. In addition, a case analysis was conducted to compare direct cost and indirect project cost with the experts' estimation. According to the questionnaire survey analysis, it is observed that there were significant differences in demand between groups which are classified by the regions, living expenditures, the level of property ownership and the scales of residence. From an investor's perspective, investment decision on residential facility for retired seniors should be made considering bothe the level of returns which can be generated from the investment and the customers' needs.

• Construction Engineering and Management
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• v.11 no.5
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• pp.15-18
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• 2010

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.80-86
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• 2006

Continuous development of construction industry and enhancement of its global competitiveness must be supported by research and development(R&D) for new technology. However, the R&D investment in Korean construction industry is lower than those in other industries. The R&D investment by Korean government is also insufficient comparing with other governments. This paper investigates the R&D investment status in Korean construction industry and reviews the outcomes of the R&D in relation with construction new technology and patent. Based on the investigations of the present status, new direction of the construction R&D is suggested.