Korea Construction Association Holds First Extraordinary General Meeting of the Year, Shares Achievements Including Elimination of Unfair Practices

The Korea Construction Association announced on July 29 that it held the '2025 First Extraordinary General Meeting' at the Construction Hall in Gangnam-gu, Seoul.

The association shared with its member companies the achievements of institutional improvements and responses to industry issues, which were promoted mainly by the Priority Business Promotion Committee this year, and approved last year's financial settlement.

At the general meeting, major results were reported, including support for revitalizing the construction market, normalization of construction costs, improvement of technology-based bidding, elimination of unfair practices, response to the Serious Accidents Punishment Act, and enhancement of the construction industry's image.

Officials from member companies of the Korea Construction Association are taking a commemorative photo on the 29th at the Construction Hall in Gangnam-gu, Seoul during the '2025 1st Extraordinary General Meeting.' Provided by Korea Construction Association

The association actively made recommendations for the recovery of the construction market, which is facing a severe downturn, and as a result, 2.7 trillion won was included in the supplementary budget to support the revitalization of the construction market.

In addition, the minimum bid rate for local contract eligibility screening was raised by 2 percentage points, and the standard rates for construction costs, such as general administrative expenses and indirect labor costs, were increased by 2 to 3 percentage points. This led to an annual increase of 1.3 trillion won in public construction costs, contributing to a substantial improvement in the construction industry's actual profits.

Han Seunggu, president of the association, said, "The results of the efforts made together by the 16 city and provincial presidents and all executives and staff are starting to show little by little," and added, "We will continue to do our best to protect the rights and interests of construction professionals and to become an association that provides practical support."