Daejeon Area Companies' Q1 Private Construction Contracts Total 2.2 Trillion Won

The order amount for private construction projects by companies in the Daejeon area exceeded 2 trillion won in the first quarter.

The city announced on the 10th that in the first quarter subcontracting status inspection of private construction sites this year, the order amount for local companies was recorded at 2.2525 trillion won.

This is an increase of 180 billion won compared to the fourth quarter of last year, and the subcontracting rate was found to be 67.1%.

In the first quarter, both new construction starts and large-scale building projects decreased due to the construction market downturn. Additionally, rising material and labor costs and financial instability created an environment where local construction companies, which have relatively weaker price competitiveness compared to Seoul and the metropolitan area, found it difficult to secure orders.

However, the city's analysis indicates that efforts such as sharing project site information among the city, district offices, and construction-related associations, visiting sites, and actively requesting local construction companies' participation in subcontracting for construction, materials, equipment, and manpower played a driving role in boosting order achievements.

Jang Ilsun, Director of the City Urban Housing Bureau, said, “The survival of local companies is a key task for regional development,” and added, “The city will strive to lead the expansion of orders and secure competitiveness for local companies through multifaceted support policies.”

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