Journal of Engineering and Applied Sciences

Year: 2019
Volume: 14
Issue: 5
Page No. 1451 - 1456

A Study of Korean Companie’s Ordering Competitiveness in International Construction Markets

Authors : Sun-Woong Min and Jong-Il Lee

Abstract: In the industrializing period focusing on export, overseas construction business was enhanced by the government’s strong supportive system and the Middle East economic boom of 1970’s. It played its role of locomotive in export industry for the economic development of Korea. But after 1997 in which Korea had to experience the IMF crisis, overseas construction business has once taken fundamental restructuring due to the lowered national credit. In the 2000, a tremendous growth was achieved due to the sudden increase of ordering amount for planting in the Middle Asia. Meanwhile, the growth has become shrunk, since, the financial crisis of 2008. Besides, the amount of overseas ordering which focuses on additional value-oriented investment and development, radically decreased because domestic construction companies mainly grew on bulk-based ordering setting the total amount for construction when contracted which is harmful for contractors. For ensuring ordering amount, watching over fast-changing situations of world construction markets it is required to recheck the methodology for improving ordering competitive power based on Korean construction technology and know-how. Therefore, after reviewing current ordering situations and prospects of Korean construction companies in domestic and international construction markets based on various reference materials and literature this research analyzes problems in ordering related to Korean construction companies and finally suggests strategic methods to enhance competitive ordering power of Korean construction companies in overseas markets. It is expected that from now on, based on strategic methods together with extensive Korean companie’s experience and technology, Korean companies make their way through oversea markets. Furthermore, objective research overcoming conceptual level should be fulfilled for every constructional type in overseas markets.

How to cite this article:

Sun-Woong Min and Jong-Il Lee, 2019. A Study of Korean Companie’s Ordering Competitiveness in International Construction Markets. Journal of Engineering and Applied Sciences, 14: 1451-1456.

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