Construction Contract Amount in Q3 Reaches 53.7 Trillion KRW, Up 18% YoY

Construction contract amounts in the third quarter of this year increased by 18.0% compared to the same period last year.

Seoul Reconstruction Construction Site / Photo by Hyunmin Kim kimhyun81@

The Ministry of Land, Infrastructure and Transport announced on the 30th that an analysis of data on prime contracts worth 1 billion KRW or more, contracted by general and specialized construction companies from the Construction Industry Comprehensive Information Network (KISCON), showed that the construction contract amount in the third quarter of this year totaled 53.7 trillion KRW, up 18.0% from the same period last year.

By contracting entity, the public sector recorded 12 trillion KRW, an increase of 8.7%, influenced by land development and housing projects, while the private sector recorded 41.7 trillion KRW, up 21.1%, driven by industrial facility construction.

By construction type, civil engineering saw a 56.2% increase to 18.2 trillion KRW compared to the same period last year, influenced by large industrial facilities such as semiconductors. Architecture increased by 4.9% to 35.5 trillion KRW.

By company ranking, the top 1?50 companies recorded contract amounts of 26.5 trillion KRW, up 45.3% from the same period last year. During the same period, companies ranked 51?100 signed contracts worth 2.3 trillion KRW, an increase of 14.5%. Companies ranked 301?1000 secured contracts worth 3.9 trillion KRW, up 16.2%. However, companies ranked 101?300 saw contract amounts of 3.6 trillion KRW, a decrease of 21.0% compared to the same period last year.

By site location, the metropolitan area recorded 26 trillion KRW, up 7.3% from the same period last year, while non-metropolitan areas increased by 30.2% to 27.7 trillion KRW.

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