Daejeon, Increase in Subcontracting Participation Rate and Contract Amount in Private Construction Sites

[Asia Economy (Daejeon) Reporter Jeong Il-woong] In the third quarter of this year, the participation rate and contract amount of local subcontractors at private construction sites in the Daejeon area increased compared to the same period last year.

Daejeon City announced on the 3rd that, as a result of inspecting the participation status of local subcontractors at private construction sites in the city, the subcontractor participation rate of local companies in the third quarter of this year was 67.2%, and the contract amount was 1.3 trillion KRW.

The inspection was conducted from the 26th to the 27th of last month, targeting 72 private construction sites with a total floor area of 3,000㎡ or more.

As a result, the subcontractor participation rate in the third quarter of this year increased by 1% compared to the same period last year, and the contract amount increased by 200 billion KRW.

The city explained that this achievement is meaningful as it was accomplished despite adverse conditions in the construction industry, such as rising prices of construction-related materials like rebar.

Building on this momentum, the city aims to raise the subcontractor participation rate of local companies to 70% by the end of the year.

Jung Hae-gyo, Director of the Urban Housing Bureau of the city, said, “According to Statistics Korea data from last September, Daejeon has the highest increase rate in contract amounts by head office location among special and metropolitan cities nationwide,” and added, “The city will promptly coordinate schedules with sites scheduled to start construction in the fourth quarter of this year and continue to discuss ways to expand local company participation.”

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