The Ministry of Land, Infrastructure and Transport said on the 30th that the value of construction contracts in the third quarter of this year (July to September) is estimated to be 53.7 trillion won. This is an 18% increase compared to the same period last year. The value of construction contracts increased for two consecutive quarters following the second quarter.
The value of construction contracts in the public sector ordered by the national and local governments amounted to 12 trillion won in the third quarter of this year, an increase of 8.7% compared to the same period last year. The value of contracts in the private sector also rose to 41.7 trillion won, a 21.1% increase.
By type of work, the value of civil engineering contracts (including industrial facilities and landscaping) increased by 56.2% compared to the same period last year, reaching 18.2 trillion won. The value of architectural contracts was recorded at 35.5 trillion won, a 4.9% increase.
By corporation size, the contract value of the top 1-50 corporations increased by 45.3% to 26.5 trillion won. The 51-100 corporations also saw an increase to 2.3 trillion won, a rise of 14.5%. In contrast, the 101-300 corporations recorded 3.6 trillion won and the 301-1000 corporations had 3.9 trillion won, each increasing by 21% and 16.2%, respectively.
By location of the construction site, the value of construction contracts in the metropolitan area increased by 7.3% to 26 trillion won compared to the same period last year, while non-metropolitan areas also saw an increase to 27.7 trillion won, up 30.2%.