Last Year Construction Companies' Project Value 344 Trillion Won... Double-Digit Growth for the First Time in 15 Years

Statistics Korea Announces 'Construction Industry Survey Results' on the 29th

Last year, the construction amount of domestic construction companies surpassed 344 trillion won. The construction amount increased by 12% compared to the previous year, marking a double-digit growth rate for the first time in 15 years.

According to the "2022 Construction Industry Survey Results" announced by Statistics Korea on the 29th, the construction amount of domestic construction companies was tentatively estimated at 344.445 trillion won. This is an increase of 36.787 trillion won (12.0%) from 307.658 trillion won the previous year. The growth rate more than doubled from 6.5% the previous year. A growth rate exceeding 10% was recorded for the first time in 15 years since 2008 (16.5%).

Among the domestic construction amounts, the architectural sector, which accounted for 238 trillion won, showed the largest increase (15.2%). This was influenced by the increase in construction of factories, apartments, warehouses, and office buildings. The industrial facilities sector recorded 26 trillion won, a 3.1% increase, driven by the rise in power plant facility construction. Landscaping increased by 4.6% to 7 trillion won. However, civil engineering, which amounted to 41 trillion won, decreased by 4% (2 trillion won) compared to the previous year.

By region, the construction amount was 312 trillion won domestically and 33 trillion won overseas. However, the growth rate overseas was 22.7% (6 trillion won), higher than the domestic growth rate of 10.9% (31 trillion won). Domestically, the metropolitan area recorded 158 trillion won, increasing by 13.1% (18 trillion won), while other regions increased by 8.8% (12 trillion won) to reach 153 trillion won. Overseas, the Middle East (26.3%) and the Americas (53.9%) showed remarkable growth.

By registered business type, the construction amount was 154 trillion won (44.7%) for general construction and 190 trillion won (55.3%) for specialized construction.

The increase in construction amounts was led by the top 100 companies. Last year, the construction amount of the top 100 companies was 101 trillion won, up 14.0% (12 trillion won). This accounted for 29.4% of the total construction amount. Their domestic construction amount was 72 trillion won, accounting for 23%, and their overseas construction amount was 33 trillion won, sweeping 91.3% of the overseas market.

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