MakeWorks is a prop-tech startup. It applied financial technology not only to accurately price construction expenses but also to connect loans. MakeWorks was founded by CEO Jeon Kyung-jun in February 2022, based on his experience working as a technician on construction sites. MakeWorks particularly targets small and medium-sized construction companies that struggle to implement Building Information Modeling (BIM) services due to issues related to expenses and manpower.
BIM is a technology that integrates construction information, combining 3D design with materials, processes, construction expenses, and specifications to produce, manage, and utilize information throughout the construction process. This allows for the identification of errors and waste elements in design, construction, and maintenance, thereby increasing productivity and safety in construction.
However, domestic construction sites are facing challenges in adopting BIM. While large construction companies use BIM, small and medium-sized construction firms, which lack expenses and manpower, are unable to implement it.
In response, CEO Jeon developed a user-friendly web CAD called "CAD View," which possesses about 80% of BIM's functionalities. Jeon noted, "BIM requires an initial service expense of 10 million won, and for small construction companies, there are limitations for on-site workers to use BIM due to a lack of expertise in 3D design," adding, "We developed a smart construction solution that can be actually used on small construction sites."
MakeWorks completed the development of "CAD View" in May this year and conducted a proof of concept (PoC). Currently, they are in the process of modification. Jeon said, "We provided the CAD View service to construction companies that want to use it and plan to fully launch the service in March next year." He also mentioned, "The expense for the CAD View service is 100,000 won per month," stating it has been set at a reasonable price for small construction companies.
A key feature of MakeWorks' CAD View is its high compatibility, allowing it to be applied on any site. Additionally, it can be used easily on smartphones or tablet PCs, which are convenient on construction sites.
The greatest benefit of CAD View is its ability to reduce construction expenses. Jeon stated, "With CAD View, based on the information presented in the drawings, we can calculate how much cement is needed for this wall, how many doors will be installed, and the expense for those materials, thus estimating all materials required for the entire construction." He added, "This allows for the pre-calculation of all necessary expenses, reducing construction costs," and noted, "It allows property owners to monitor excessive construction charges and obtain accurate financial loans based on precise project estimates."
CAD View can manage the construction process to help control extended construction periods. Jeon mentioned, "When construction workers input and share the tasks they have completed into the drawings, the manager can easily check and direct areas where the construction is lagging, thus controlling the overall construction process effectively."
MakeWorks is focusing on stabilizing its domestic services this year and plans to expand into overseas markets such as Canada and India next year. Jeon remarked, "Canada has an active construction market, and India is attractive due to being the world's most populous country," adding, "We are preparing with the goal of entering both countries next year."