The Ministry of Land, Infrastructure and Transport said on the 29th it will announce the standard market unit price for construction work for the second half of this year on May 8.
The standard market unit price is the benchmark used to calculate the estimated price (direct construction cost) of construction work. After field surveys, it is usually announced at the end of each year, and at the end of April an additional amount adjusted for inflation is also announced.
The Ministry of Land, Infrastructure and Transport (MOLIT) decided to announce the standard market unit price for construction work for the second half of this year later than in previous years. The aim is to reflect as much as possible the impact of price fluctuations caused by the Middle East war and other factors. MOLIT plans to immediately reflect in the second-half standard market unit price the construction cost index for March, which will be released at the end of April. A MOLIT official said, "Considering the time required for the adjustment process, unlike the usual announcement on April 30, we plan to announce it on May 8."
The standard market unit price for the second half of 2026 will take effect immediately upon announcement. Specific figures can be viewed on the websites of the Ministry of Land, Infrastructure and Transport or the Construction Cost Management Center of the Korea Institute of Civil Engineering and Building Technology (KICT).