Seoul City to Invest 1.2229 Trillion Won in Safety and Construction This Year... Preventing Major Accidents and Creating Jobs

216 Service Contracts in Safety and Infrastructure, 144 Construction Orders
85% Early Orders by April

[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 15th that it will invest 1.2229 trillion KRW this year in service contracts and construction projects in the safety and infrastructure sectors.

Seoul City has created a detailed inspection checklist to ensure thorough safety inspections at each stage of all contracted construction projects in safety and infrastructure this year. This checklist consolidates previously self-conducted inspections into a single list in line with the enforcement of the Serious Accidents Punishment Act. The goal is to strengthen safety management at each of the six contract stages?planning, announcement, review, contract signing, construction, and completion?to prevent accidents in advance.

In particular, Seoul plans to issue about 85% of contracts early by April to revitalize the local economy, which has been stagnant due to COVID-19, and to contribute to job creation. If the entire budget is spent this year, applying the employment inducement coefficient from the Bank of Korea, approximately 13,200 jobs are expected to be created.

The contracts to be issued this year are broadly divided into 216 service contracts in safety and infrastructure and 144 construction contracts. The safety and infrastructure service contracts include ▲108 contracts (24.9 billion KRW) in safety sectors such as road facilities, firefighting, and mountainous areas ▲87 contracts (54.4 billion KRW) in safety management such as water supply and sewage ▲21 contracts (13.5 billion KRW) in infrastructure design. The total project cost is 92.8 billion KRW. To stabilize livelihoods and revitalize the economy, 95% of these will be issued early by April.

Construction contracts include ▲49 maintenance projects (121.4 billion KRW) for road facilities and bridges ▲35 urban infrastructure development projects (769.7 billion KRW) such as roads and parks ▲35 repair and maintenance projects (183.8 billion KRW) for water supply and sewage facilities ▲25 river dredging and river facility projects (55.2 billion KRW). A total of 1.1301 trillion KRW will be invested. To stabilize livelihoods and revitalize the economy, 71% of these will be issued early by April.

Seoul City plans to disclose information related to the project details and contract issuance schedules for the services and construction projects to be issued this year on the Seoul City website so that companies can prepare in advance and participate.

Han Je-hyun, Director of Seoul City’s Safety General Office, said, “Since these projects are directly related to citizen safety, we will ensure they proceed without any setbacks throughout the year. Above all, we will prioritize safety by applying strengthened safety management standards to all contracted construction projects to ensure safe construction.”

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