건설기업의 자금 조달 및 이용 실태 분석 - 2000년도 일반건설업체 950개사의 표본 조사 -

Analysis of the Current State of the Korean Construction Firm's Finance: A Sample Survey for the General Construction Firms

This report analyzes the current state of construction firm's finance using a sample survey for the Korean general construction firms. The areas the report analyze are the objectives and sources of financing, the financial conditions for the year 2000 and the forecast of the financial conditions for the year 2001, and the state of direct and indirect finance, construction firm's credit rating, project finance, and asset backed financing. 26.5% of the surveyed firms finance from outside funds more than 50% of the necessary funds, such as public offering of their stocks, corporate bonds and commercial papers as well as borrowing from the financial institutions. The main objectives of outside funding is to cover the construction costs. The main sources of financing are the Korea Construction Financial Operative, commercial banks and non-official private sources. While 52.3% of the sampled firms are responded to be that the financial conditions for the year 2001 will be worse than that for the year 2000, 19.6% of them are responded to be that the financial conditions for the year 2001 will be better than that for the year 2000. 28.2% of them are responded to be that the financial conditions for the year 2001 will be the same as that for the year 2000. 27.9% of the surveyed firms borrow more than 50% of the necessary money on the basis of their credit only. The most popular collateral they use as security to borrow from the financial institutions is real estate. Only 38 firms of the surveyed have experienced in using direct finance method and 42 firms is planning to use direct finance method. Only 64 surveyed firms have experienced in discussing the possibility of the loan on the basis of project finance with the financial institution and 31 finns of these 64 firms borrowed the money using project finance method. While 41 firms have considered the possibility of using asset backed financing method, 825 firms have not considered the possibility of using asset backed financing method. Only 16 firms are planning to use asset backed financing method.