Jeonbuk Province and Related Agencies United for Construction Industry Revitalization

Finding Support Measures to Expand Orders for Local Businesses

Jeonbuk Province announced on the 6th that the Jeonbuk branch of the Korea Construction Association held a meeting to revitalize the local construction industry, attended by construction-related organizations and leading local companies.

According to the province, the meeting aimed to overcome the difficulties faced by the local construction industry due to the ongoing domestic economic downturn and to stimulate the local construction market.

The meeting was attended by Lim Sang-gyu, Deputy Governor; So Jae-cheol, President of the Jeonbuk branch of the Korea Construction Association; Kim Jin-hong, Vice President of the Jeonbuk branch of the Korea Specialty Construction Association; Yoo Je-young, President of the Jeonbuk branch of the Korea Mechanical Equipment Construction Association; and representatives from local construction companies, totaling about 20 participants.

On the 6th, Jeonbuk Province and construction-related organizations held a meeting to revitalize the local construction industry.
[Photo by Jeonbuk Province]

The meeting proceeded with explanations on the current status and revitalization plans of Jeonbuk’s local construction industry, discussions among attendees, proposals from the Construction Association and industry stakeholders, and listening to difficulties faced.

To revitalize the sluggish construction market in the province, various measures were actively discussed, including ▲expanding orders for local construction companies ▲discovering special provisions by Jeonbuk Province to favor local companies ▲creating a fair construction environment ▲strengthening promotional sales activities for local companies, among other strategies to boost the local construction industry.

The province listened carefully to the proposals and difficulties raised by the Construction Association and related organizations, exchanging broad opinions on ways to revitalize the construction industry.

Key proposals from the meeting included ▲financial support for safety management costs for small local enterprises ▲establishment of preferential regulations for local companies in Jeonbuk Province’s contract sector ▲operation of a rational cost review system ▲creating an environment to expand participation of large local construction projects ▲improving the practice of under-design in small-scale construction ▲eradicating unfair practices by prime contractors ▲establishing a construction culture that ensures fair payment and proper execution.

Jeonbuk Province plans to support local companies in securing orders worth 2.9115 trillion KRW out of the total 5.1762 trillion KRW in new construction project orders (public sector) this year to revitalize the local construction market. They plan to advance scheduled project orders to issue more than 70% within the first half of the year.

With the launch of Jeonbuk Special Self-Governing Province, the province will continuously request institutional improvements to expand local company orders, strengthen on-site administration, encourage subcontracting participation by local companies at construction sites, prioritize the use of local materials, and actively provide incentives.

Deputy Governor Lim Sang-gyu stated, "We will focus all administrative efforts on revitalizing the local construction market, which has been sluggish due to high interest rates and inflation, and implement various policies. The diverse opinions proposed will be made to practically benefit the local construction industry."

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