"Construction in South Korea - Key Trends and Opportunities to 2018" Published

From: Fast Market Research, Inc.
Published: Mon Oct 06 2014

The value of the South Korean construction industry increased at a compound annual growth rate (CAGR) of 2.43% during the review period (2009-2013). Growth was supported by private and public investments in infrastructure, industrial and commercial construction projects. Much of the country's industrial and economic success can be credited to the country's commitment to infrastructure development. According to the World Economic Forum's Global Competitiveness Report 2013-2014, South Korea's infrastructure ranked 23rd in a list of 148 global economies. The industry is expected to be supported by the government's focus on infrastructure and residential construction over the forecast period (2014-2018), which will improve investor sentiment alongside the country's hosting of the 2018 Winter Olympic Games and an anticipated recovery of the global economy. The industry is anticipated to post a forecast-period CAGR of 3.96%.

Full Report Details at
- http://www.fastmr.com/prod/883874_construction_in_south_korea_key_trends_and.aspx?afid=301

Report Highlights

* The country's energy infrastructure construction is expected to be supported by the government's plans to develop nuclear energy, increasing its usage to half of the total energy consumption by 2022. South Korea has plans to increase the use of nuclear energy from 29.2% of total energy consumption in 2012 to 43.4% by 2022, and 59.0% by 2030. Accordingly, the total nuclear power installed capacity is expected to increase by 59.0%, going from 20.7GWe in 2012 to 32.9GWe by 2022. In accordance with this plan, 18 new nuclear power plants are proposed to be constructed by 2030, with an anticipated investment of KRW40-50 trillion (US$32-40 billion). With such an increase in the capacity of nuclear energy, substantial investments in the power sector are expected to drive growth of the energy infrastructure over the forecast period.
* Significant investments are being made in the country's infrastructure in order to improve its quality, effectiveness and coverage, as well as maintaining its transport network. In 2013, the South Korean government announced its plan to invest KRW124.0 trillion (US$108.6 billion) on various road, rail and other transportation infrastructure development projects across the country.
* The commercial construction market will be supported by a number of hotel and resort development projects. 20th Century Fox, one of the six major American film studios, is planning to construct a KRW3.8 trillion (US$3.5 billion) new 75-acre theme park in Changwon City, which is expected to be completed in 2018. Moreover, the French hotel group Accor SA is in the process of constructing a 300-room hotel in Seoul, which is expected to be completed in 2016.

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