Construction Contract Amount in Q3 This Year Reaches 74.3 Trillion Won... 14% Increase

[Asia Economy Reporter Minyoung Kim] The Ministry of Land, Infrastructure and Transport announced on the 22nd that the construction contract amount for the third quarter of this year was approximately 74.3 trillion KRW, an increase of 14.0% compared to the same period last year.

The contract amount for public construction projects ordered by the national and local governments was 10.5 trillion KRW, up 2.2% from the same period last year, while private construction projects amounted to 63.8 trillion KRW, an increase of 16.2%. Despite the construction industry downturn, the overall contract amount rose due to price increases in raw materials and other costs.

By construction type, civil engineering contracts recorded approximately 14.9 trillion KRW, a 27.9% increase from the same period last year due to growth in industrial facilities and others. Building contracts increased by 10.9% to about 59.5 trillion KRW, driven by growth in other buildings such as factories and workshops.

By company size, the top 1 to 50 companies recorded contract amounts of 37.1 trillion KRW, a 46.4% increase. This is attributed to the rise in contracts of leading construction companies, influenced by projects such as Samsung C&T’s semiconductor plant construction in Pyeongtaek.

Companies ranked 51 to 100 saw a decrease of 28.9% to 3.1 trillion KRW. Those ranked 101 to 300 recorded 6.4 trillion KRW, down 4.0%, and companies ranked 301 to 1000 also declined by 2.1% to 4.9 trillion KRW.

By site location, construction contract amounts in the Seoul metropolitan area reached 34.8 trillion KRW, up 20.5% from the previous year. Non-metropolitan areas recorded 39.5 trillion KRW, an increase of 8.7%.

By headquarters location, the Seoul metropolitan area saw a 16.2% increase to 46.5 trillion KRW, while non-metropolitan areas increased by 10.7% to 27.7 trillion KRW.

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