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Since IMF foreign exchange crisis in 1997, the domestic construction industry has met a new situation. As the market size of construction industry is decreased and the number of construction companies is increased, the domestic construction industry has a structural problem. Under the situation, construction companies have to submit a low cost bid without any profit in order to get a job and survive in the most competitive market. This will make construction company's financial stability worse. As a result, quality of facilities cannot be assured. If this situation were continued, the domestic construction industry could be destroyed.Therefore, this study presents concept and standard for fair construction cost so that corporation belong to the construction industry might be secured for proper profits and achieved solid business environment.