Daejeon Area Companies Achieve Record High Private Construction Contract Amount of 1.2 Trillion Won

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 20th that the subcontracting order amount for private construction sites by local companies in the first quarter of this year reached 1.2 trillion KRW.

This is 57 billion KRW more than the first quarter of last year, marking an all-time high.

Additionally, the local company participation rate (use of local materials, equipment, and manpower) was 66.8%, showing a 0.3% increase compared to the fourth quarter of last year.

Previously, the city surveyed the participation status of local companies at 63 private construction sites with a total floor area of over 3,000㎡, and joint inspections were conducted by the city, district offices, and local construction-related associations focusing on 16 sites where the local company participation rate was below 70%.

In particular, during the joint inspections, the criteria for inspection targets were significantly strengthened and expanded in accordance with the ordinance enacted last year (local company subcontracting participation rate of 70%), actively encouraging local companies to secure orders.

Lee Hyo-sik, head of the Housing Policy Division of the city, said, “Since the subcontracting participation rate target has been raised to 70% to revitalize the local construction industry, we will thoroughly manage the sites from the early stages of projects and actively communicate with contractors. For sites with low local company participation rates, we will strengthen inspections by forming a TF team and provide support such as visiting headquarters.”