Q4 Construction Contract Value Reaches 79.5 Trillion Won, Up 5.7% Year-on-Year

Both Public and Private Sectors See Year-on-Year Growth

Top 1-50 Companies Record 40 Trillion Won

The Ministry of Land, Infrastructure and Transport announced on March 26 that the total value of construction contracts in the fourth quarter of last year reached 79.5 trillion won, a 5.7% increase compared to the same period the previous year. The public sector recorded 30.5 trillion won, up 11.3% year-on-year, while the private sector reached 48.9 trillion won, a 2.5% increase.

Yonhap News Agency

By type of construction, civil engineering (including industrial facilities and landscaping) increased by 14.3% year-on-year to 21.2 trillion won due to a rise in pure civil engineering works, while building construction grew by 2.9% to 58.3 trillion won.

By company size, the top 1 to 50 companies accounted for 40 trillion won, an increase of 13.0% compared to the same period last year. Companies ranked 51 to 100 saw a decrease of 19.9% to 5.1 trillion won, and those ranked 101 to 300 posted 5.9 trillion won, down 3.0%. Companies ranked 301 to 1,000 posted 6.7 trillion won, a 19.1% increase, while all other companies showed a slight rise of 0.1% to 21.8 trillion won.

By project location, the Seoul metropolitan area recorded 40 trillion won, down 1.8% year-on-year, while non-metropolitan areas increased by 14.6% to 39.5 trillion won. The metropolitan area posted 50.3 trillion won, a 0.9% increase compared to the same period last year, while non-metropolitan areas rose by 14.9% to 29.1 trillion won.

The trend of construction contract value over the past 10 years shows that after hitting a low of 45.05 trillion won in the third quarter of 2023, the figure has been on the rise again. The fourth quarter of last year reached approximately 96% of the all-time high.

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