| Title |
A Study on the Effect and Improvement Direction of the Credit Rating of Large Construction Firms by the Reinforced Real Estate Regulations and the Raising of the Base Rate |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2018.19.1.090 |
| Keywords |
Construction Companies ; Overseas Plant Project ; Private Development Project ; Korean Government's Property Policy ; Base Rate |
| Abstract |
In preparation of the increase in the domestic debts and the rise in the US interest rate, the Korean government has started to strengthen the regulation on the property market since 2017. So, it is likely that the sales in the domestic construction market would be decreased. Even in the overseas plant projects market, as there has been the continuous increase in the cost and the resulting increase in the losses, it looks hard for the large construction companies to keep their credit ratings as they are now. This study is designed to check Korean government's property policy and any possible problems caused by the overseas and domestic economic environment, which include the property market policy, interest rate, rise in the property price and lackluster sales in housing market. It showed the change in the credit ratings by finding out the sales, work capability, sales in non-governmental projects, operating profits and PF contingency liabilities. For this study, the questionnaires were sent to 30 practical experts to analyze the effect of the risk factor on the outside credit rating of large construction companies. |