en.Wedoany.com Reported - Data released by South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) on the 26th showed that the total value of construction contracts in the first quarter of this year reached 74.1 trillion won, up 23.4% from the same period last year. This growth was primarily driven by continued investment expansion in the private sector, particularly in semiconductor production facilities and data centers.

By sector, the public sector contract value recorded 25.1 trillion won, up 5.0% year-on-year, supported by the progress of large-scale projects such as the Pocheon Power Plant and Busan Port. The private sector showed stronger performance, reaching 49 trillion won, driven by semiconductor production facilities and data center projects, up 35.6% year-on-year, serving as the main engine of overall growth.

By project type, civil engineering (including industrial equipment and landscaping) contract value rose 35.8% year-on-year to 29 trillion won, fueled by increased orders for private industrial equipment projects. Among these, industrial equipment contracts surged 159.0% year-on-year to 11 trillion won; pure civil engineering and landscaping contracts stood at 17 trillion won and 1 trillion won, respectively, both achieving 6.0% year-on-year growth.

In terms of building construction contracts, driven by private factory expansions and residential project demand, the value increased 16.6% year-on-year to 45.1 trillion won.

From the perspective of company size, top-tier construction firms (ranked 1st to 50th in the industry) recorded contract values of 37.7 trillion won, up 40.2% year-on-year. Companies ranked 101st to 300th and 301st to 1000th posted contract values of 5.3 trillion won and 6.5 trillion won, with growth rates of 6.8% and 24.9%, respectively.

Analyzed by construction site location, the Seoul Capital Area recorded contract values of 39.2 trillion won, up 41.8%; non-capital areas totaled 34.9 trillion won, with a modest increase of 7.8%. When categorized by the headquarters location of construction companies, firms in the capital area saw contract values of 47.7 trillion won, up 48.2%; while those outside the capital area recorded 26.3 trillion won, a decline of 5.4%.

Looking back over the past decade, South Korea's construction contract value peaked at 82.7 trillion won in the second quarter of 2022, before falling to 45.5 trillion won in the third quarter of 2023. The 74.1 trillion won in the first quarter of this year represents 89.6% of the peak level in Q2 2022, indicating that the market is on a sustained recovery path. Relevant construction contract statistics are available on the MOLIT statistical website.

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