Chungnam Province to Issue Construction and Service Contracts Worth Over 5 Trillion Won This Year to Ease Construction Slump

Public Institutions Including Chungnam Province to Issue 5.8 Trillion Won in Orders This Year
Order Amount Nearly 1 Trillion Won Increase Compared to Last Year
Hope for Support to Local Companies Amid Construction Market Slump and Cold Wave

Chungnam Province plans to thaw the cold spell in the local construction industry with the largest scale of construction and service orders this year.

According to Chungnam Province on the 17th, public institutions located in Chungnam, including Chungnam Province, cities and counties, Chungnam Office of Education, Daejeon Regional Land Management Office, and Korea Expressway Corporation, are expected to issue a total of 2,886 construction projects over 100 million KRW and service projects over 10 million KRW, amounting to 5.08 trillion KRW this year.

In terms of the number of orders, excluding construction projects under 100 million KRW and service projects under 10 million KRW, the total has decreased by 2,211 from last year (5,097 projects), but the amount has increased by 959.7 billion KRW compared to last year (4.1203 trillion KRW) due to the issuance of many medium and large-scale construction projects, according to Chungnam Province.

The number and amount by type are divided into 1,691 construction projects worth 4.5044 trillion KRW and 1,195 service projects worth 575.6 billion KRW. Among these, Chungnam Province itself will issue 297 projects worth 1.294581 trillion KRW.

Major construction projects and amounts include ▲Construction of Chungnam Sports Center at 42.6 billion KRW ▲Creation of tennis courts for the 2027 Summer World University Games at 30 billion KRW ▲Expansion of the new building of Seosan Medical Center (architecture + civil engineering) at 29.882 billion KRW ▲Construction of dredged soil disposal site at Boryeong New Port at 19.722 billion KRW ▲Construction of Chungnam Museum of Art and public parking lot at 7.599619 billion KRW ▲Construction of Duma?Noseong road at 127.84 billion KRW ▲Expansion and paving of Donghae?Bugok local road at 45.1 billion KRW ▲Construction of Jinsan?Geumsan road at 44.8 billion KRW, among others.

Order status by city and county includes ▲Cheonan with 210 projects worth 327.839 billion KRW ▲Buyeo with 200 projects worth 223.767 billion KRW ▲Asan with 102 projects worth 139.658 billion KRW ▲Taean with 63 projects worth 129.971 billion KRW ▲Dangjin with 114 projects worth 91.674 billion KRW ▲Cheongyang with 50 projects worth 76.581 billion KRW, etc.

In addition, 11 public institutions including Korea Expressway Corporation, Korea Rural Community Corporation, Korea Gas Corporation, Korea Midland Power, Korea Western Power, and Korea East-West Power will issue 859 projects worth 1.9413 trillion KRW this year; Chungnam Office of Education will issue 408 projects worth 204 billion KRW; Daejeon Regional Land Management Office will issue 109 projects worth 270.9 billion KRW; and Daesan Regional Maritime Affairs and Fisheries Office will issue 23 projects worth 73.5 billion KRW.

Chungnam Province plans to disclose the order plans by institution to construction-related organizations and companies in the province for their use and will encourage each institution to promptly execute orders from the beginning of the year.

For more detailed information about construction and service orders, inquiries can be made through the Construction Policy Division of Chungnam Province.