DUBLIN--(BUSINESS WIRE)--The "Construction in South Korea - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.

Prior to the Coronavirus (COVID-19) outbreak, South Korea's construction industry was struggling, with the industry's value-add declining by 2.5% in real terms in 2019, owing to weakness in the residential construction sector, as rising housing prices weighed on the demand for residential buildings.

South Korea fared better than most of the countries in controlling the COVID-19 pandemic, without having to impose a nation-wide lockdown. As a result, construction activities were not severely affected, which helped the industry to register growth in the first half of the year. According to the Korean Statistical Information Service (KOSIS), the industry's value-add at 2015 chained prices declined marginally by 0.2% year-on-year in Q2 2020, following growth of 3% year-on-year in the previous quarter. However, the publisher expects the industry to shrink by 1.1% this year, owing to uncertainty in the industry that could stem from falling building permits, falling foreign direct investment (FDI), weak investor confidence in the short-term and disruptions to construction activities amid the pandemic.

Over the remaining part of the forecast period, the industry is expected to pick up pace and grow by an annual average of 3.7% between 2021-2024. The industry's output will be supported by improving investor confidence, increasing the value of orders received for construction 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 2020-2025 on a 'Korean New Deal' program, which includes investments in the areas of renewable energy, electric vehicles, 5G, big data and artificial intelligence. The industry will also be supported by the government's focus on curbing rising property prices in an effort to cool the overheated property market, coupled with its investments on residential buildings to address the housing shortage

Scope

• Historical (2015-2019) and forecast (2020-2024) 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

Key Topics Covered:

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

4.1.1. Outlook

4.1.2. Latest news and developments

4.1.3. Construction Projects Momentum Index

4.2. Commercial Construction

4.2.1. Outlook

4.2.2. Project analytics

4.2.3. Latest news and developments

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

For more information about this report visit https://www.researchandmarkets.com/r/3abgcs

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