3rd Quarter Construction Contract Amount 58 Trillion Won... 24% Increase Compared to Previous Year

Summary Infographic of Construction Contract Statistics for Q3 2020 (Provided by the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Lee Chun-hee] The construction contract amount for the third quarter (July to September) of this year was recorded at 58.1 trillion KRW, a 24% increase compared to the same period last year.

The Ministry of Land, Infrastructure and Transport announced on the 28th that this figure was compiled and analyzed based on construction contract amounts reported to the Construction Industry Comprehensive Information Network (KISCON).

Looking at the data by sector, the increase in contract amounts in the private sector was notable. Although civil engineering decreased, construction increased, resulting in 48.7 trillion KRW, a 27.9% rise compared to the same period last year. Public construction contracts amounted to 9.4 trillion KRW, a 6.4% increase from the previous year.

By type of work, while civil engineering slightly decreased, the increase in construction contracts was remarkable. The civil engineering sector, including industrial facilities and landscaping, recorded 8.8 trillion KRW, down 12% from the same period last year, whereas the construction sector, boosted by apartments and redevelopment/reconstruction projects, rose 33.5% to 49.4 trillion KRW.

By company ranking, the top 1-50 companies recorded 25.1 trillion KRW, a 42.1% increase compared to the same period last year. Companies ranked 51-100 had 3.1 trillion KRW (34.8% increase), those ranked 101-300 had 4.8 trillion KRW (20.7% increase), and companies ranked 301-1,000 had 19.8 trillion KRW (4.7% increase), showing growth in contract amounts across all rankings.

By site location, the metropolitan area recorded 27.4 trillion KRW, a 5.4% increase compared to the same period last year, while non-metropolitan areas saw a significant increase of 46.9%, reaching 30.7 trillion KRW.

Detailed information can be found on the Ministry of Land, Infrastructure and Transport’s Statistics Nuri website.

This content was produced with the assistance of AI translation services.