In the first quarter of this year, the value of construction contracts decreased by 4.8% compared to the same period last year.
The Ministry of Land, Infrastructure and Transport announced on the 25th that the value of construction contracts in the first quarter of this year totaled 60.1 trillion won, a 4.8% decrease from 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, commissioned by the government and local governments, increased by 12.0% year-on-year to 23.9 trillion won in the first quarter. In contrast, the value of contracts in the private sector decreased by 13.4% to 36.1 trillion won.
By type of work, the value of civil engineering contracts (including industrial facilities and landscaping) recorded 21.3 trillion won, a decrease of 11.0% compared to the same period last year. The value for building contracts was 38.7 trillion won, showing a decrease of 0.9%.
By size of corporations, the value of contracts for the top 1 to 50 corporations was 26.9 trillion won, a decrease of 8.4%. The value for those ranked 51 to 100 increased by 16.8% to 4.4 trillion won. Meanwhile, the 101 to 300 ranked corporations recorded 4.9 trillion won, and those ranked 301 to 1000 recorded 5.2 trillion won, both decreasing by 4.4% and 15.8%, respectively.
By the location of the construction sites, the value of contracts in the metropolitan area was 28.3 trillion won, decreasing by 5.2% compared to the same period last year, while the non-metropolitan area also saw a decrease to 31.8 trillion won, down by 4.3%.
By the location of the headquarters, the metropolitan area saw a decrease to 31.2 trillion won, down by 12.3%, while the non-metropolitan area increased to 28.8 trillion won, a rise of 5.0%.