Since 1970, a number of new towns have been developed by National Territorial Plan in Korea. Especially, the public enterprise for new town development has mainly accomplished new town projects for public interests during past three decades. Therefore...
Since 1970, a number of new towns have been developed by National Territorial Plan in Korea. Especially, the public enterprise for new town development has mainly accomplished new town projects for public interests during past three decades. Therefore, the public enterprise could accumulate sufficient experience and know-how in all development phase, from planning to sales. However, the public enterprise had conservative tendency to enter oversea markets. Recently, there has become keen competition in domestic market for new town development in Korea. If on-going new town development projects, such as “Sei-Jong City (Multifunctional Administrative City) project”, “Innovation City projects”, “Enterprise City projects”, and “Free economic zone development projects”, are finished, domestic market for new town development will be saturated. Whereas, overseas markets for new town development in developing and oil-producing countries are rising as “Blue Ocean”. The public enterprise needs to grasp this chance in order to expand business areas and to make sure of competitiveness for sustainable growth.This study proposes overseas market entry strategies for new town development in public enterprise perspective. First of all, this study investigates previous studies and market trends for international construction market and new town development market, and analyzes previous cases of overseas new town development projects. In addition, literature review and focus group interviews (FGI) with experts were selected to search for oversea market entry considerations in overseas new town development. Based on these considerations, this study has added a survey with internal and external experts in oversea new town development in order to evaluate importance of consideration in overseas market entry and relative competitive power of the public enterprise. Through Importance Performance Analysis (IPA) and Content Analysis (CA), this study achieves SWOT analysis of the public enterprise and consequently proposes oversea market entry strategies for new town development in public enterprise perspective.For making sure of competitiveness in order to enter into overseas new town development market, this study suggests the following alternatives; it is necessary to continuously develop and promote project management skills based on fluent business experience, and to reinforce organization for international affairs and professional human resources. In addition, it also needed to improve the project finance and financial management techniques, and to create better atmosphere for oversea market entry. Moreover, this study proposes oversea market entry strategies through strategic alliance with private companies, other public enterprises, and local governments and companies. This study will contribute to activation of entering into overseas new town development markets.