Economic Feasibility and Benefit Cost Analysis of High-Rise Modular Construction in South Korea

초록

Modular construction is increasingly recognized as an efficient alternative to conventional reinforced concrete (RC) construction, offering advantages such as reduced on-site labor, enhanced safety, shorter construction duration, and improved quality control. Economic feasibility high-rise modular buildings, higher initial costs comp economic feasibility of high-rise modular construction cost-benefit analysis of t18-story and a 25-story structure. The study applies key financial metrics, including Net Present Value (NPV), Internal Rate of Return (IRR), and Benefit-Cost Ratio (BCR), to assess the long-term viability of modular construction. The findings indicate that while the BCR values for both cases remain below 1.0, they are higher than those of conventional RC buildings, suggesting relatively better economic feasibility despite existing cost challenges. Additionally, the results reveal that modular buildings exceeding 20 stories demonstrate greater economic benefits than low-rise modular projects, indicating potential for future development. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2026.

키워드