해외건설공사 활성화를 위한 해외공사보험의 역할 제고에 관한 연구

Last year Korea has become 9th country which achieved one trillion US Dollars of trade volume. The accumulated amount of overseas construction won by Korea exceeded 480 billion US Dollars as of the end of last year. The amount awarded, however, has decreased by 17.5 percent last year. Overseas construction is a contract for work, supply of goods, for services and a combination of these forms of contract. A contractor faces lots of risks in completing overseas construction but not limited to political risk in employing country, employer's credit risk, and natural disaster. The overseas construction works insurance is a sort of export insurance operated by the Korea Trade Insurance Corporation. This insurance covers losses by contractors of overseas construction projects arising from political risks and project owners’ commercial risks. Although there is no direct relation between the insured amount of the overseas construction works insurance and the amount of overseas construction awarded, some articles of the insurance policy need to be revised to enhance the role of the overseas construction works insurance. The enlargement of the risks covered by the overseas construction works insurance will help Korean contractors to win overseas construction project, which will contribute to the increase the amount of overseas construction awarded.