The total contract amount for construction work last year was 288.9 trillion KRW, showing a 10.5% increase compared to the same period the previous year.
On the 21st, the Ministry of Land, Infrastructure and Transport announced that the contract amount for construction work in the fourth quarter of 2021 (October to December) recorded 81.7 trillion KRW, a 0.8% decrease compared to the same period the previous year. The amounts for the first, second, and third quarters were 66 trillion KRW, 76 trillion KRW, and 65.2 trillion KRW respectively, totaling 288.9 trillion KRW for the year.
By contracting entity, public construction contracts ordered by the government, local governments, and public institutions in the fourth quarter amounted to 17.7 trillion KRW, a 24.9% decrease compared to the same period the previous year, and 62 trillion KRW annually, a 5.5% decrease compared to the previous year.
The private sector recorded 64 trillion KRW, an 8.8% increase compared to the same period the previous year, and 226.9 trillion KRW annually, a 15.9% increase compared to the previous year.
The contract amount for civil engineering (including industrial facilities and landscaping) was 16.8 trillion KRW, a 1.5% decrease compared to the same period the previous year, but recorded 62.7 trillion KRW annually, an 8.6% increase compared to the previous year. In the case of architecture, residential construction decreased, resulting in a 0.6% decrease to 64.9 trillion KRW, but the annual amount recorded 226.2 trillion KRW, an 11.1% increase compared to the previous year.
By company size, the top 1-50 companies recorded 32.8 trillion KRW (a 12.2% decrease compared to the same period the previous year), companies ranked 51-100 recorded 4.7 trillion KRW (a 1.5% increase), companies ranked 101-300 recorded 8.7 trillion KRW (a 21.7% increase), companies ranked 301-1000 recorded 7.1 trillion KRW (a 5.5% decrease), and other companies recorded 28.2 trillion KRW (a 10.4% increase).
On an annual basis, the top 1-50 companies recorded 114.9 trillion KRW (a 7.4% increase compared to the previous year), companies ranked 51-100 recorded 19 trillion KRW (a 17.0% increase), companies ranked 101-300 recorded 27.6 trillion KRW (a 27.7% increase), companies ranked 301-1,000 recorded 24.3 trillion KRW (a 1.6% increase), and other companies recorded 102.5 trillion KRW (an 11.1% increase).
By location of construction sites, the contract amount in the metropolitan area was 40.9 trillion KRW, a 5.3% decrease compared to the same period the previous year, while non-metropolitan areas recorded 40.8 trillion KRW, a 4.2% increase. Annually, the metropolitan area recorded 142.4 trillion KRW, a 10.1% increase compared to the previous year, and non-metropolitan areas recorded 146.5 trillion KRW, a 10.9% increase.
Meanwhile, data on construction contract statistics can also be found on the Land, Infrastructure and Transport Statistics Nuri website.
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