The Ministry of Land, Infrastructure and Transport announced on the 2nd that it has publicized the standard market prices and standard norms for construction work to be applied from this year.
The Ministry of Land, together with the Korea Institute of Civil Engineering and Building Technology, which manages the construction cost estimation standards, revises the standard market prices twice a year and the standard norms once a year.
The standard market prices extract the construction costs by work type (material costs, labor costs, expenses) from actual completed projects and are used to estimate costs for similar construction projects.
The standard norms present the number of personnel, material quantities, etc., used in common and generalized work types and methods, and are used to calculate construction costs by multiplying the unit cost per task.
The standard market prices cover a total of 1,695 work types (989 civil engineering, 417 architecture, 289 facilities), reflecting changes in wage rates and the producer price index, showing a 3.17% increase compared to the previous period.
For 203 work types requiring price adjustment, on-site surveys were conducted to reflect actual market prices. The application standards for rebar processing and assembly work types, which account for a large portion of construction work, were improved to suit the characteristics of facilities, reflecting actual construction conditions.
Among a total of 1,371 items, the appropriateness of 368 standard norms was reviewed, and revisions were made regarding construction site safety assurance, strengthening fire safety of buildings, dismantling and repair by material type, and facilities for the convenience of the disabled and elderly.
To ensure construction site safety, the basis for calculating labor costs for signalmen was established, and installation standards for various safety facilities were presented.
The standard norms and standard market prices for construction work applied this year can be viewed on the Ministry of Land website or the Korea Institute of Civil Engineering and Building Technology's Construction Cost and Cost Management Center website.
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