Announcement of Standard Market Prices for Port and Fishing Port Corporations Applied in the First Half of 2021... 2.8% Increase Compared to the Second Half of This Year

[Asia Economy Reporter Jusangdon Joo] The Ministry of Oceans and Fisheries announced the standard market prices for port and fishing harbor construction projects to be applied in the first half of 2021 on the 30th.

The standard market price is a price calculated based on contract prices, bid prices, and construction prices by type of public or private construction projects. It is announced twice a year, in the first and second half, and is used as a reference when determining the estimated prices for port and fishing harbor construction projects.

The standard market prices announced this time were calculated by analyzing 332 unit prices of 70 port and fishing harbor construction projects contracted and concluded from April 2019 to September 2020. It increased by an average of 2.82% compared to the standard market prices for the second half of 2020.

An official from the Ministry of Oceans and Fisheries said, "By investigating and announcing the standard market prices for port and fishing harbor construction projects every half year, we continuously reflect the market conditions of port and fishing harbor construction projects in the construction prices." He added, "Through the proper calculation of standard market prices for port and fishing harbor construction projects, there will be positive effects such as improvement in construction quality."

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