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GDP from the construction sector South Korea 2011-2020

In 2020, the gross domestic product (GDP) contributed by the construction sector in South Korea was approximately 88.8 trillion South Korean won. The GDP from this sector showed overall growth until 2017 and started to decrease from the year after. The GDP from construction peaked at around 94.37 trillion won in 2017.

Korean construction industry

There were approximately 237 thousand construction permits in South Korea in 2019. This figure does not include the overseas orders of Korean companies. Nearly 90 of these permits were for steel buildings, and residential and commercial buildings were the intended use of these new constructions. The total sales value and costs in the construction sector in 2018 amounted to over 394 trillion won and 376 trillion won respectively. Korea’s leading construction company, according to the government construction capability evaluation, was Samsung C&T (Construction and Trading). In 2019, Samsung C&T ranked first with a building capacity valued at around 17.5 trillion won. The annual construction capacity evaluation measures a company’s performance based on construction contracts, business management, technical capabilities, and brand credibility.

Korean construction overseas

Korean construction companies also operate overseas, building industrial plants, public works, electric powerplants, telecommunications facilities, and more. Overseas construction orders amounted to approximately 22.4 billion U.S. dollars in 2019. At their peak in 2010, Korean construction companies had orders reaching nearly 72 billion dollars. Around 60 percent of overseas orders were for industrial facilities as of 2018. The total value in this year was around 32 billion dollars, half of which came from other Asian countries. In addition, Middle Eastern countries accounted for around a third of total orders by value.

Gross domestic product (GDP) from the construction sector in South Korea from 2011 to 2020

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Sources

Release date

January 2021

Region

South Korea

Survey time period

2011 to 2020

Special properties

real GDP

Supplementary notes

Values were calculated based on the chained price of 2015.

Values have been rounded.

1,000 South Korean won equals 0.9 U.S. dollars or 0.75 euros (as of January 2021).

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Statistics on "Construction in South Korea"

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