1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to find alternatives which manage the risk of developer and reduce the cost of real estate development business practically within the present structure of private real estate development. (2) RESEARCH METHOD This study adopted the exiting theoretical and practical literature review and interview contents to the people who relates real estate development company, financial institution, construction company in Korea. (3) RESEARCH FINDINGS In the results of this survey, various alternatives that enhance the risk taking power and competitive power of developer exist through cost reduction and change of developer practically. 2. RESULTS This study offers three development directions to improve the competitive power of developer. 1) The developer professionalizes originality and the know-how which is accumulated. 2) The developer operates business of the size which hits to an ability and reduce input costs that is land cost. 3) The developer raises the power of project management like asset management and contents development power from long-term view point.