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Construction in South Korea - Key Trends and Opportunities to 2020

Published: Jun 16, 2016 | Pages: 1056 | Publisher: Timetric | Industry: Construction | Report Format: Electronic (PDF)



Synopsis
The South Korean construction industry's forecast-period (2016-2020) outlook is better than its review-period (2011-2015) performance, with average annual growth in real terms set to accelerate from 0.93% during the review period to 2.41% over the forecast period. This increase will be a result of increased government investment in public infrastructure, recovery in regional and global economic conditions, and improving consumer and investor confidence. Rises in construction permits for residential, industrial and institutional buildings will also support growth over the forecast period. The industry is expected to be supported by works related to the hosting of the 2018 Winter Olympic Games in Pyeongchang, Gangwon province. The government is expected to invest KRW13.0 trillion (US$10.8 billion) to construct new stadiums and other related infrastructure. According to the Korean Statistical Information Service (KOSIS), total construction permits, including industrial, commercial and residential, issued in the country grew by 12.1% from 236,804 units in 2014 to 265,445 in 2015. Moreover, the total area of construction grew by 34.3% from 141.3 million m2 in 2014 to 189.8 million m2 in 2015. According to the KOSIS, foreign investment in the country's real estate increased from KRW243.5 billion (US$229.4 million) in 2014 to KRW3.0 trillion (US$2.8 billion) in 2015. Affordable housing projects, growing interest from foreign investors and liberal real estate laws will help the market to grow over the forecast period.

Summary
Timetric's Construction in South Korea - Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the South Korean construction industry including: • South Korean construction industry's growth prospects by market, project type and construction activity • Analysis of equipment, material and service costs for each project type in South Korea • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the South Korean construction industry • Profiles of the leading operators in the South Korean construction industry • Data highlights of the largest construction projects in South Korea

Scope
This report provides a comprehensive analysis of the construction industry in South Korea It provides: • Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in South Korea using construction output and value-add methods • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) • Analysis of key construction industry issues, including regulation, cost management, funding and pricing • Detailed profiles of the leading construction companies in South Korea

Reasons to Buy
• Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies. • Assess market growth potential at a micro-level with over 600 time-series data forecasts. • Understand the latest industry and market trends. • Formulate and validate strategy using Timetric's critical and actionable insight. • Assess business risks, including cost, regulatory and competitive pressures. • Evaluate competitive risk and success factors.

Key Highlights
• The government's focus on the tourism industry is expected to drive growth in the commercial construction market, in particular leisure and hospitality buildings, over the forecast period. The government promotes its cultural heritage across the world through the 'Visit Korea Years 2016-2018' program and the 'Friendly Korea' campaign. The government is also developing infrastructure to accommodate tourists, and plans to invest KRW2.1 trillion (US$2.0 billion) to develop tourism, education, healthcare, city planning, energy and traffic by 2019. • In June 2015, the government announced the Innovation in Manufacturing 3.0 initiative to address fundamental and structural issues in the manufacturing sector. The government plans to invest KRW200.0 billion (US$172.0 million) to construct 1,500 smart factories annually, and computerize all manufacturing plants by 2020. • The South Korean government aims to connect all major cities of the country with a high-speed rail system, enabling travel to any city within 90 minutes. Accordingly, the government announced plans to expand the High-Speed Railway (HSR) network from 368km in 2011 to 2,362km by 2020 under PPP model, with an investment of KRW88.0 trillion (US$81.9 billion). • In 2014, the government reduced its total target of producing energy from nuclear power from 41.0% of the total energy demand by 2030 to 29.0% by 2035, as a result of safety concerns. After the 2011 Fukushima Nuclear disaster in Japan, a scandal in South Korea over nuclear safety certificates, and public protests to reduce the use of nuclear energy, the government scaled back its nuclear power expansion plans. However, to achieve the target to produce 29.0% of total energy demand by nuclear, the government needs to double nuclear power-generation capacity by 2035. • With an aim to reduce greenhouse gas emissions, the government introduced a regulation in 2012 for energy companies to produce a portion of their energy from renewable sources. The government aims to increase renewable energy's share in the total energy mix from 3.6% in 2014 to 5.0% by 2020.
 Table of Contents

1 Executive Summary 2 Industry Outlook 2.1 Commercial Construction 2.2 Industrial Construction 2.3 Infrastructure Construction 2.4 Energy and Utilities Construction 2.5 Institutional Construction 2.6 Residential Construction 3 Key Issues and Developments 4 Market Data Analysis 4.1 Construction Output and Value Add 4.1.1 Construction output by project type 4.1.2 Construction output by cost type 4.1.3 Construction output by activity type 4.1.4 Construction value add by project type 4.2 Commercial Construction 4.2.1 Commercial construction output by project type 4.2.2 Commercial construction output by cost type 4.2.3 Commercial construction output by activity type 4.2.4 Commercial construction value add by project type 4.3 Industrial Construction 4.3.1 Industrial construction output by project type 4.3.2 Industrial construction output by cost type 4.3.3 Industrial construction output by activity type 4.3.4 Industrial construction value add by project type 4.4 Infrastructure Construction 4.4.1 Infrastructure construction output by project type 4.4.2 Infrastructure construction output by cost type 4.4.3 Infrastructure construction output by activity type 4.4.4 Infrastructure construction value add by project type 4.5 Energy and Utilities Construction 4.5.1 Energy and utilities construction output by project type 4.5.2 Energy and utilities construction output by cost type 4.5.3 Energy and utilities construction output by activity type 4.5.4 Energy and utilities construction value add by project type 4.6 Institutional Construction 4.6.1 Institutional construction output by project type 4.6.2 Institutional construction output by cost type 4.6.3 Institutional construction output by activity type 4.6.4 Institutional construction value add by project type 4.7 Residential Construction 4.7.1 Residential construction output by project type 4.7.2 Residential construction output by cost type 4.7.3 Residential construction output by activity type 4.7.4 Residential construction value add by project type 5 Company Profile: Samsung C&T Corporation 5.1 Samsung C&T Corporation - Company Overview 5.2 Samsung C&T Corporation - Business Description 5.3 Samsung C&T Corporation - Main Products and Services 5.4 Samsung C&T Corporation - History 5.5 Samsung C&T Corporation - Company Information 5.5.1 Samsung C&T Corporation - key competitors 5.5.2 Samsung C&T Corporation - key employees 6 Company Profile: Hyundai Engineering & Construction Co., Ltd 6.1 Hyundai Engineering & Construction Co., Ltd - Company Overview 6.2 Hyundai Engineering & Construction Co., Ltd - Business Description 6.3 Hyundai Engineering & Construction Co., Ltd - Main Services 6.4 Hyundai Engineering & Construction Co., Ltd - History 6.5 Hyundai Engineering & Construction Co., Ltd - Company Information 6.5.1 Hyundai Engineering & Construction Co., Ltd - key competitors 6.5.2 Hyundai Engineering & Construction Co., Ltd - key employees 7 Company Profile: Daewoo Engineering & Construction Co., Ltd 7.1 Daewoo Engineering & Construction Co., Ltd - Company Overview 7.2 Daewoo Engineering & Construction Co., Ltd - Business Description 7.3 Daewoo Engineering & Construction Co., Ltd - Main Services 7.4 Daewoo Engineering & Construction Co., Ltd - History 7.5 Daewoo Engineering & Construction Co., Ltd - Company Information 7.5.1 Daewoo Engineering & Construction Co., Ltd - key competitors 7.5.2 Daewoo Engineering & Construction Co., Ltd - key employees 8 Company Profile: Posco Engineering & Construction Ltd 8.1 Posco Engineering & Construction Ltd - Company Overview 8.2 Posco Engineering & Construction Ltd - Business Description 8.3 Posco Engineering & Construction Ltd - Main Services 8.4 Posco Engineering & Construction Ltd - History 8.5 Posco Engineering & Construction Ltd - Company Information 8.5.1 Posco Engineering & Construction Ltd - key competitors 8.5.2 Posco Engineering & Construction Ltd - key employees 9 Company Profile: GS Engineering & Construction Corporation 9.1 GS Engineering & Construction Corporation - Company Overview 9.2 GS Engineering & Construction Corporation - Business Description 9.3 GS Engineering & Construction Corporation - Main Services 9.4 GS Engineering & Construction Corporation - History 9.5 GS Engineering & Construction Corporation - Company Information 9.5.1 GS Engineering & Construction Corporation - key competitors 9.5.2 GS Engineering & Construction Corporation - key employees 10 Appendix 10.1 What is this Report About? 10.2 Definitions 10.3 Methodology 10.4 Contact Timetric 10.5 About Timetric 10.6 Timetric's Services 10.7 Disclaimer
List of Tables
Table 1: South Korean Construction Output by Project Type (KRW Million), 2011-2015 Table 2: South Korean Construction Output by Project Type (KRW Million), 2015-2020 Table 3: South Korean Construction Output by Cost Type (KRW Million), 2011-2015 Table 4: South Korean Construction Output by Cost Type (KRW Million), 2015-2020 Table 5: South Korean Construction Output by Activity Type (KRW Million), 2011-2015 Table 6: South Korean Construction Output by Activity Type (KRW Million), 2015-2020 Table 7: South Korean Construction Value Add by Project Type (KRW Million), 2011-2015 Table 8: South Korean Construction Value Add by Project Type (KRW Million), 2015-2020 Table 9: South Korean Commercial Construction Output by Project Type (KRW Million), 2011-2015 Table 10: South Korean Commercial Construction Output by Project Type (KRW Million), 2015-2020 Table 11: South Korean Commercial Construction Output by Cost Type (KRW Million), 2011-2015 Table 12: South Korean Commercial Construction Output by Cost Type (KRW Million), 2015-2020 Table 13: South Korean Commercial Construction Output by Activity Type (KRW Million), 2011-2015 Table 14: South Korean Commercial Construction Output by Activity Type (KRW Million), 2015-2020 Table 15: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2011-2015 Table 16: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2015-2020 Table 17: South Korean Industrial Construction Output by Project Type (KRW Million), 2011-2015 Table 18: South Korean Industrial Construction Output by Project Type (KRW Million), 2015-2020 Table 19: South Korean Industrial Construction Output by Cost Type (KRW Million), 2011-2015 Table 20: South Korean Industrial Construction Output by Cost Type (KRW Million), 2015-2020 Table 21: South Korean Industrial Construction Output by Activity Type (KRW Million), 2011-2015 Table 22: South Korean Industrial Construction Output by Activity Type (KRW Million), 2015-2020 Table 23: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2011-2015 Table 24: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2015-2020 Table 25: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2011-2015 Table 26: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2015-2020 Table 27: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2011-2015 Table 28: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2015-2020 Table 29: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2011-2015 Table 30: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2015-2020 Table 31: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2011-2015 Table 32: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2015-2020 Table 33: South Korean Energy and Utilities Construction Output by Project Type (KRW Million), 2011-2015 Table 34: South Korean Energy and Utilities Construction Output by Project Type (KRW Million), 2015-2020 Table 35: South Korean Energy and Utilities Construction Output by Cost Type (KRW Million), 2011-2015 Table 36: South Korean Energy and Utilities Construction Output by Cost Type (KRW Million), 2015-2020 Table 37: South Korean Energy and Utilities Construction Output by Activity Type (KRW Million), 2011-2015 Table 38: South Korean Energy and Utilities Construction Output by Activity Type (KRW Million), 2015-2020 Table 39: South Korean Energy and Utilities Construction Value Add by Project Type (KRW Million), 2011-2015 Table 40: South Korean Energy and Utilities Construction Value Add by Project Type (KRW Million), 2015-2020 Table 41: South Korean Institutional Construction Output by Project Type (KRW Million), 2011-2015 Table 42: South Korean Institutional Construction Output by Project Type (KRW Million), 2015-2020 Table 43: South Korean Institutional Construction Output by Cost Type (KRW Million), 2011-2015 Table 44: South Korean Institutional Construction Output by Cost Type (KRW Million), 2015-2020 Table 45: South Korean Institutional Construction Output by Activity Type (KRW Million), 2011-2015 Table 46: South Korean Institutional Construction Output by Activity Type (KRW Million), 2015-2020 Table 47: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2011-2015 Table 48: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2015-2020 Table 49: South Korean Residential Construction Output by Project Type (KRW Million), 2011-2015 Table 50: South Korean Residential Construction Output by Project Type (KRW Million), 2015-2020 Table 51: South Korean Residential Construction Output by Cost Type (KRW Million), 2011-2015 Table 52: South Korean Residential Construction Output by Cost Type (KRW Million), 2015-2020 Table 53: South Korean Residential Construction Output by Activity Type (KRW Million), 2011-2015 Table 54: South Korean Residential Construction Output by Activity Type (KRW Million), 2015-2020 Table 55: South Korean Residential Construction Value Add by Project Type (KRW Million), 2011-2015 Table 56: South Korean Residential Construction Value Add by Project Type (KRW Million), 2015-2020 Table 57: Samsung C&T Corporation, Key Facts Table 58: Samsung C&T Corporation, Main Products and Services Table 59: Samsung C&T Corporation, History Table 60: Samsung C&T Corporation, Key Employees Table 61: Hyundai Engineering & Construction Co., Ltd, Key Facts Table 62: Hyundai Engineering & Construction Co., Ltd, Main Services Table 63: Hyundai Engineering & Construction Co., Ltd, History Table 64: Hyundai Engineering & Construction Co., Ltd, Key Employees Table 65: Daewoo Engineering & Construction Co., Ltd, Key Facts Table 66: Daewoo Engineering & Construction Co., Ltd, Main Services Table 67: Daewoo Engineering & Construction Co., Ltd, History Table 68: Daewoo Engineering & Construction Co., Ltd, Key Employees Table 69: Posco Engineering & Construction Ltd, Key Facts Table 70: Posco Engineering & Construction Ltd, Main Services Table 71: Posco Engineering & Construction Ltd, History Table 72: Posco Engineering & Construction Ltd, Key Employees Table 73: GS Engineering & Construction Corporation, Key Facts Table 74: GS Engineering & Construction Corporation, Main Services Table 75: GS Engineering & Construction Corporation, History Table 76: GS Engineering & Construction Corporation, Key Employees Table 77: Timetric Construction Market Definitions


List of Figures
Figure 1: South Korean Construction Output (Real US$ 2010, Million), 2011-2020 Figure 2: Growth Matrix for Construction Output in South Korea (US$ Million), 2011-2020 Figure 3: South Korean Construction Output by Project Type (KRW Million), 2011-2020 Figure 4: South Korean Construction Output by Cost Type (KRW Million), 2011-2020 Figure 5: South Korean Construction Output by Activity Type (KRW Million), 2011-2020 Figure 6: South Korean Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 7: South Korean Commercial Construction Output by Project Type (KRW Million), 2011-2020 Figure 8: South Korean Commercial Construction Output by Cost Type (KRW Million), 2011-2020 Figure 9: South Korean Commercial Construction Output by Activity Type (KRW Million), 2011-2020 Figure 10: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 11: South Korean Industrial Construction Output by Project Type (KRW Million), 2011-2020 Figure 12: South Korean Industrial Construction Output by Cost Type (KRW Million), 2011-2020 Figure 13: South Korean Industrial Construction Output by Activity Type (KRW Million), 2011-2020 Figure 14: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 15: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2011-2020 Figure 16: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2011-2020 Figure 17: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2011-2020 Figure 18: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 19: South Korean Energy and Utilities Construction Output by Project Type (KRW Million), 2011-2020 Figure 20: South Korean Energy and Utilities Construction Output by Cost Type (KRW Million), 2011-2020 Figure 21: South Korean Energy and Utilities Construction Output by Activity Type (KRW Million), 2011-2020 Figure 22: South Korean Energy and Utilities Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 23: South Korean Institutional Construction Output by Project Type (KRW Million), 2011-2020 Figure 24: South Korean Institutional Construction Output by Cost Type (KRW Million), 2011-2020 Figure 25: South Korean Institutional Construction Output by Activity Type (KRW Million), 2011-2020 Figure 26: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2011-2020 Figure 27: South Korean Residential Construction Output by Project Type (KRW Million), 2011-2020 Figure 28: South Korean Residential Construction Output by Cost Type (KRW Million), 2011-2020 Figure 29: South Korean Residential Construction Output by Activity Type (KRW Million), 2011-2020 Figure 30: South Korean Residential Construction Value Add by Project Type (KRW Million), 2011-2020

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