Construction in South Korea - Key Trends and Opportunities to 2025 (H1 2021)

Construction in South Korea - Key Trends and Opportunities to 2025 (H1 2021)

Summary


Given South Korea’s successful containment of the Coronavirus (COVID-19) pandemic, without the need for nation-wide lockdowns, construction activity was not as severely affected when compared to other countries. According to the Korean Statistical Information Service (KOSIS), the construction industry’s value-add declined by 1.9% year on year (YoY) in real terms in the third quarter of 2020, following a decline of 0.2% in Q2 and growth of 3% in Q1 2020.

GlobalData expects the industry to recover in 2021, growing by 2.9% in real terms, compared to a contraction of 1.1% in 2020. The industry is then expected to expand at an annual average rate of 3.9% between 2022-2025. The industry’s output will be supported by improving investor confidence and the government’s focus on green infrastructure. In July 2020, the government announced a plan to invest KRW160 trillion (US$133.5 billion) between 2020 and 2025 under the ‘Korean New Deal’ program, which includes investments in the areas of renewable energy, electric vehicles, 5G infrastructure, big data and artificial intelligence. The industry will also be supported by the government’s focus on curbing rising property prices to cool an overheated property market, coupled with investments on residential buildings to address the housing shortage.

This report provides detailed market analysis, information, and insights into the South Korean construction industry, including -
- The South Korean construction industrys growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the South Korean construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in South Korea. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in South Korea, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy


- Identify and evaluate market opportunities using GlobalDatas standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
 

1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 GlobalData Construction
 


List Of Tables

Table 1: Construction Industry Key Data
Table 2: South Korea, Key Economic Indicators
Table 3: South Korea, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: South Korea, Top Commercial Construction Projects by Value
Table 5: South Korea, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: South Korea, Top Industrial Construction Projects by Value
Table 7: South Korea, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: South Korea, Top Infrastructure Construction Projects by Value
Table 9: South Korea, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: South Korea, Top Energy and Utilities Construction Projects by Value
Table 11: South Korea, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: South Korea, Top Institutional Construction Projects by Value
Table 13: South Korea, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: South Korea, Top Residential Construction Projects by Value
Table 15: South Korea, Key Contractors
Table 16: South Korea, Key Consultants
Table 17: South Korea, Construction Output Value (Real, US$ Million)
Table 18: South Korea, Construction Output Value (Nominal, KRW Million)
Table 19: GlobalData Construction Market Definitions
 


List Of Figures

Figure 1: North-East Asia, Construction Output (Real % Change), 2020 and 2021
Figure 2: South Korea, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: South Korea, COVID-19 Confirmed Cases
Figure 4: South Korea, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: South Korea, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: South Korea, Construction Value-Add (KRW Trillion, 2015 Chained Prices, Unadjusted)
Figure 7: South Korea, Construction Production Index (2015=100)
Figure 8: South Korea, Total Value of Construction Completed, in KRW Trillion, Constant Prices
Figure 9: South Korea, Total Value of Construction Orders Received in KRW Trillion, Current Prices
Figure 10: South Korea, Total Number of Building Construction Permits
Figure 11: South Korea, Construction Projects Momentum Index
Figure 12: South Korea, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 13: South Korea, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 14: South Korea, Commercial Construction Permits (Total Number)
Figure 15: South Korea, Visitor Arrivals (In Thousands)
Figure 16: South Korea, Retail Sales - Value and Volume Index, (2015=100)
Figure 17: South Korea, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 18: South Korea, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: South Korea, Industrial Construction Permits (Total Number)
Figure 20: South Korea, Manufacturing Value-Add (KRW Trillion, 2015 Chained Prices, Unadjusted)
Figure 21: South Korea, Industrial Production Index (2015=100)
Figure 22: South Korea, Total Value of Construction Contracts Received for the Industrial Plants, (In KRW Trillion)
Figure 23: South Korea, Total Exports (in US$ Billion)
Figure 24: South Korea, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: South Korea, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: South Korea, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 27: South Korea, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: South Korea, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 29: South Korea, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: South Korea, Construction Permits for Educational and Social Use (Total Number)
Figure 31: South Korea, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 32: South Korea, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 33: South Korea, Residential Construction Permits (Total Number)
Figure 34: South Korea, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 35: South Korea, Headquarters of Key Consultants (% of Total Project Pipeline)
 


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