"Construction Industry is Directly Linked to People's Livelihood... Regulations Will Be Clearly Lifted"
"This Year's Goal: $40 Billion in Overseas Orders... Growth Engine"
Prime Minister Han Duck-soo is delivering a congratulatory speech at the Construction Technicians' Day ceremony held at the Construction Hall in Gangnam-gu, Seoul, on the afternoon of the 25th. [Image source=Yonhap News]
Prime Minister Han Duck-soo stated on the 25th, "We will swiftly promote the expansion of housing supply and the deregulation of redevelopment and reconstruction to supplement the sluggish construction market."
On the same day, Prime Minister Han attended the '2024 Construction Technicians Day Ceremony' held at the Construction Hall in Gangnam-gu, Seoul, and said, "Since the construction market is directly linked to people's livelihoods, we must find a breakthrough before it is too late and lay the foundation for sustainable growth."
He emphasized, "The government will strive to revitalize the construction market," adding, "The 'New Village Project' announced by President Yoon Suk-yeol during the public livelihood forum, along with the regeneration projects of Seoul's old downtown areas, new town redevelopment, and the expansion of public housing supply, reflect the government's commitment to revitalizing the construction market."
He continued, "We will firmly remove regulations that act as obstacles and strengthen public support through thorough follow-up measures," explaining, "We will also expedite the execution of the Social Overhead Capital (SOC) budget to serve as a catalyst for economic recovery."
Regarding real estate project financing (PF), which has recently increased market instability, he said, "We will concentrate government-wide capabilities on crisis management and seek fundamental institutional improvement measures."
Prime Minister Han also revealed plans to expand overseas markets with a target of $40 billion in overseas orders this year.
He stated, "The growing overseas construction market will become a future growth engine for our construction industry," adding, "Overseas orders are influenced by a complex combination of factors including corporate competitiveness,
financial procurement capabilities, and international affairs."
He further said, "The government will strengthen the comprehensive support system centered on 'One Team Korea,' a public-private joint overseas project order support group," and added, "We will vigorously support companies' overseas expansion by strategically utilizing proactive government-level sales diplomacy and the significantly increased Official Development Assistance (ODA) budget."
Prime Minister Han emphasized, "We will expand investment and development-type projects to pioneer new markets and discover high value-added projects such as smart cities and urban development, which are our strengths," adding, "We will support the eco-friendly transition of construction and focus on developing core technologies and nurturing strong small and medium-sized enterprises that will lead the future construction industry."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
