Construction Contract Amounts Reach 73 Trillion KRW in Q1 This Year... 10.7% Increase Year-on-Year

[Asia Economy Reporter Ryu Tae-min] The construction contract amount in the first quarter of this year was recorded at 73 trillion won, an increase of 10.7% compared to the same period last year.

The Ministry of Land, Infrastructure and Transport announced on the 24th that the construction contract amount in the first quarter of this year was 73 trillion won, based on an analysis of the construction contract amounts reported to the Construction Industry Comprehensive Information Network (KISCON).

Specifically, the contract amount for public construction projects ordered by the central government, local governments, and public institutions was 20.2 trillion won, an increase of 2.6% compared to the same period last year. On the other hand, the private sector recorded 52.9 trillion won, a sharp increase of 14.1% during the same period.

By construction type, the contract amount for civil engineering (including industrial facilities and landscaping) increased by 19.6% compared to the same period last year, reaching 23.3 trillion won due to growth in roads, subways, and industrial facilities. In the case of architecture, commercial buildings and other buildings such as factories and workshops increased, resulting in a 7.0% rise compared to the same period last year, totaling 49.7 trillion won.

By company ranking, the contract amount for the top 1 to 50 companies was 27.6 trillion won, an 8.2% increase compared to the same period last year. Companies ranked 51 to 100 recorded 5 trillion won, and those ranked 101 to 300 recorded 7.5 trillion won, increasing by 14.1% and 21.7% respectively, showing a larger growth rate than the top companies. Companies ranked 301 to 1,000 recorded 7.6 trillion won, a 22% increase, while other companies recorded 25.3 trillion won, a 7.4% increase.

By region, the construction contract amount in the metropolitan area was 38.1 trillion won, a 6.0% increase compared to the same period last year. The non-metropolitan area recorded 40 trillion won, a 14.9% increase.

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