An external wall panel (EWP) as a novel alternative to provide spatial flexibility and improve the performance of external walls was developed. The purpose of this study was to analyze the thermal performance of this EWP. A simulation analysis was carried out to scrutinize whether it was vulnerable to condensation, considering South Korea's weather conditions, and find countermeasures to prevent this. Results indicated that the indoor surface temperature with the measures of added insulation materials and an inserted thermal-breaker was over 16.5 • C and that these methods could prevent condensation. In addition, this study assessed unsteady-state thermal characteristics, linear thermal transmittance, and the effective thermal transmittance of EWP. Effective thermal transmittance was estimated in consideration of the heat transmittance of EWP and the linear thermal transmittance of its slabs and its connection parts. The thermal characteristics of the building envelope are needed to analyze effective thermal transmittance and linear thermal transmittance-associated thermal bridges.Sustainability 2019, 11, 912 2 of 14 reparability and improved performance. With this background, this study developed an EWP that could be detached and attached as a novel alternative to provide spatial flexibility and improve the performance of external walls. This EWP was developed for external insulation to minimize thermal bridging effects, and its module systems could provide easy constructability.External wall design and selection of its materials are important elements of the building envelope. The external wall is a non-structural material, a protective covering that is fixed on the outdoor surface of a building and used to protect against moisture and thermal variations while providing aesthetic purposes [10]. The envelope of a building is a factor that has the greatest influence on the environment inside the building [11]. The building envelope separates the indoor environment that is air-conditioned by heating and cooling systems from the external environment that is not air-conditioned [12]. It protects indoor space from weather conditions and large fluctuations in temperature. A proper building envelope provides thermal comfort for occupants and conserves building energy at the same time [13,14].Several studies have investigated the thermal performance of external walls or claddings. Bojic et al. reported the thermal behaviors of residential buildings by varying the thickness and positions of thermal insulation to walls. They found out that the largest reduction of the cooling demand was observed when thermal insulation was located either at the outer or indoor side of the wall [15]. In addition, Bojic and Loveday have investigated the thermal effect of layer distribution and the relative thickness of building insulation on building envelopes. In their study, the location of insulation in the wall can significantly influence thermal behaviors in buildings [16]. A similar study regarding thermal performance by differentiati...