South Korea Construction Industry Future Discussed in New Report Now Available at MarketPublishers.com11 Aug 2011 • by Natalie Aster
ollowing two years of continuous decline, the South Korean construction industry underwent a period of gradual recovery in late 2009. The global financial crisis, which primarily affected the housing market, led to a decline in construction activity during 2008. The industry experienced its sharpest decline in this year, with the number of unsold apartments reaching 161,000 in July 2008, up from 103,000 a decade previously. However, the industry is showing clear signs of recovery as a government stimulus packages and measures to improve the liquidity position of builders gradually began to have an effect on the industry in 2010. This period of economic recovery coupled with government measures, such as a cut in property taxes, have led to a positive outlook for the South Korean construction industry over the forecast period.
The report “The Future of Construction in South Korea to 2015: Investments Pertaining to Manufacturing, Retail and the 2018 Winter Olympics to Drive Construction Activity” by iCD Research is an essential source of market size information, forecast data and analysis covering the South Korean construction industry. It provides detailed analysis of both historic and forecast construction industry values at market and category level, analysis of the leading companies in the industry, and key news.
Technology and infrastructural developments are the key factors supporting growth within the South Korean construction industry. For example, the government is undertaking considerable measures to enhance the country’s information technology infrastructure. Moreover, South Korea is focused on redeveloping its existing business complexes, promoting tourism and entertainment. Major cities, primarily Seoul and Incheon, have been the centre of such activities. For example, Seoul will create a film and entertainment complex hub by 2014 with the aim of promoting local entertainment business and tourism. Several international events should maintain South Korean infrastructure construction activities over the forecast period. In November 2007, the country became the host nation for the 2012 World Exposition (World Fair). Culturally and economically the World Fair is the third-largest event in the world, only the FIFA World Cup and the Olympic Games are considered to have a greater impact. Furthermore, government infrastructure expenditure is expected to increase during the forecast period as South Korea is to host the 2018 Winter Olympic Games.
Residential construction was the largest market within the South Korean construction industry in 2010 with a share of 33.4%. In terms of growth, the commercial construction market registered the highest review period CAGR of 5.29%, while the infrastructure construction market is expected to record the highest forecast period CAGR of 7.65%.
The Future of Construction in South Korea to 2015: Investments Pertaining to Manufacturing, Retail and the 2018 Winter Olympics to Drive Construction Activity
Published: July, 2011
Price: US$ 1,250
- Detailed market size, growth, segmentation and forecast data across five key industry categories provides all the essential information needed to assess market dynamics and identify new growth opportunities;
- Detailed profiles of major companies within the South Korean construction market enable the reader to benchmark financial performance and assess business strategy against competitors;
- Identify the major companies operating within the South Korean construction industry using the report’s detailed business descriptions, SWOT analysis, news and key personnel information.
More information can be found in the report “The Future of Construction in South Korea to 2015: Investments Pertaining to Manufacturing, Retail and the 2018 Winter Olympics to Drive Construction Activity” by iCD Research.
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