Construction Contract Amount... Polarization Deepens by Company Size
4th Quarter Construction Contract Amount 72 Trillion Won, Up 7.9% Year-on-Year
Although the construction contract amount of the top 1-300 construction companies increased in the fourth quarter of last year, the contract amount of companies outside the top 300 decreased.
The Ministry of Land, Infrastructure and Transport announced on the 2nd that the "construction contract amount in the fourth quarter of last year" was 72 trillion won, up 7.9% from the previous year. Among them, only the construction contract amount of the top 1-300 construction companies increased.
The construction contract amount of the top 1-50 construction companies was 31.6 trillion won, an increase of 30.1% compared to the same period last year. The contract amount of companies ranked 51-100 was 4.9 trillion won, up 35.8% from the same period last year. The contract amount of companies ranked 101-300 also rose 4.6% year-on-year to 6.4 trillion won.
Construction contract amounts by company size. [Data provided by the Ministry of Land, Infrastructure and Transport]
On the other hand, the construction contract amount of companies ranked 301-1000 was 5.1 trillion won, down 12.8% from the same period last year. The contract amount of companies outside the top 1000 decreased by 10.6% to 24 trillion won.
In the first quarter of last year, only the construction contract amount of the top 1-50 construction companies increased by 12% compared to the same period last year, while the contract amounts of companies in other rankings all decreased. In the second and third quarters of last year, construction contract amounts decreased across all rankings.
The Ministry of Land, Infrastructure and Transport explained that the increase in construction contract amounts in the fourth quarter of last year was due to a base effect. The contract amount in the fourth quarter of 2022 decreased by 18.4% compared to the same period the previous year. The contract amounts by company size are estimated figures for construction industry contracts excluding non-construction businesses.
Meanwhile, in the fourth quarter of last year, the private sector recorded 49.6 trillion won and the public sector recorded 22.3 trillion won in construction contract amounts. However, the private sector contract amount increased by only 0.1% compared to the same period last year. The public sector increased by 30.5%.
By construction type, civil engineering (including industrial facilities and landscaping) contract amount was 22.9 trillion won, up 28.1% year-on-year. The building contract amount was 49.1 trillion won, up 0.5%.
By region, both the metropolitan area and non-metropolitan areas increased. The metropolitan area recorded 34 trillion won, up 8.6% year-on-year, and non-metropolitan areas recorded 38 trillion won, up 7.3%.
By headquarters location, the metropolitan area increased by 12% to 43.5 trillion won, and non-metropolitan areas rose by 2.3% to 28.5 trillion won.
Data on construction contract statistics can be accessed from the Ministry of Land, Infrastructure and Transport's statistics website starting from the 3rd.
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