London (PRWEB) December 09, 2013 -- Synopsis
This report provides detailed market analysis, information and insights into the South Korean construction market, including:
-The South Korean construction market’s growth prospects by sector, project type and type of construction activity
-Analysis of equipment, material and service costs across each project type within South Korea
-Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the South Korean construction market
-Assessment of the competitive forces facing the construction industry in South Korea and profiles of the leading players
-Data highlights of the largest construction projects in South Korea
Summary
The South Korean construction industry recorded a review-period (2008-2012) CAGR of 1.58%. The housing market deflated in 2008 as interest rates began to rise and banks tightened their lending conditions. This was a key reason for a decline in domestic demand, and contributed to the country’s economic deceleration from an average of 5.2% during 2000-2007 to 2.3% in 2008, and just 0.3% in 2009. Infrastructure investments will support the construction industry, which is struggling due to poor property sales and tightening credit conditions. Investments related to the 2018 Winter Olympic Games are also expected to drive industry growth. Timetric expects the South Korean construction industry to record a forecast-period (2012-2017) CAGR of 3.07%.
Scope
This report provides a comprehensive analysis of the construction industry in South Korea:
-Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in South Korea using the construction output and value-add methods
-Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
-Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
-Analysis of key construction industry issues, including regulation, cost management, funding and pricing
-Assessment of the competitive environment using Porter’s Five Forces
-Detailed profiles of the leading construction companies in South Korea
Reasons To Buy
-Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
-Assess market growth potential at a micro-level via 600+ time series data forecasts
-Understand the latest industry and market trends
-Formulate and validate business strategies by leveraging our critical and actionable insight
-Assess business risks, including cost, regulatory and competitive pressures
-Evaluate competitive risk and success factors
Key Highlights
-South Korea’s real GDP growth moderated from 3.7% in 2011 to 2.0% in 2012 owing to subdued domestic and external demand. Exports, which account for over half of the economy’s GDP, moderated from 9.1% in 2011 to 4.2% in 2012 due to weakening demand from key trading partners. Investments contracted by 1.7% in 2012-- worse than the 1.0% decline reported in 2011-- led by poor performance in both facilities and construction investment.
-South Korea’s real GDP is expected to grow by 2.5% in 2013 and 3.6% in 2014, led by gradual improvement in global economic output. The South Korean economy is expected to recover and grow by an average of 4.0% over the forecast period.
-South Korea’s construction industry underwent a period of weak performance due to the financial crisis. Output declined by 1.6% in 2009 and recorded only a marginal growth of 0.9% in 2010. Korean construction companies are struggling due to weak property sales on account of tightening credit conditions.
-Office building construction projects that were delayed following the financial crisis resumed development in 2011. A number of these projects have been completed or are nearing completion, and the market is therefore oversupplied. In the fourth quarter of 2012, leasing demand for Grade A office buildings in Seoul recorded a noticeable decline. Considering the oversupply and the moderate growth forecast, the market will continue to be tenant-driven with developers competing on price to have their properties leased.
-Retail building development is focused on the construction of outlets, as the format is considered better value in the current economic conditions. Fashion stores continue to be primary occupiers of retail leasing space in Korea and much of the nation’s shopping mall and outlet construction is taking place in satellite towns.
-A weakened Korean won, and an earthquake and a tsunami in Japan provided South Korea’s exports and manufacturing industries with a boost during 2010-2011. The industrial production index increased by 16.7% in 2010 and 7% in 2011, but slowed to 1.8% in 2012 as a weakening Japanese yen increased demand for Japanese export products and the debt crisis across Europe affected demand.
-The country’s largest companies are in the midst of a wage dispute against labor unions. Lower labor costs compared with the US and Europe provide Korean companies with a distinct competitive advantage. The result of these negotiations could have significant implications for South Korea's industrial competitiveness.
-As part of its preparations for the 2018 Winter Olympic Games, the government has announced an investment of KRW4.1 trillion (US$3.7 billion) for a train line connecting the central city of Wonju to the host cities of Pyeongchang and Gangneung.
-South Korea has shut down two nuclear reactors and delayed the start of another after discovering that facilities were using components whose quality certificates were faked. Another seven reactors are out of service for routine maintenance work. Corruption allegations, the announced review of all 23 reactors and stricter checks on future construction will decelerate the growth of the energy infrastructure category.
-A property slump and non-performing loans led to a situation of residential property oversupply and declining demand. The government has announced various measures to support the construction industry, such as tax incentives, financial support for housing and real estate developers, increasing the mortgage fund, and tax breaks for first-time buyers.
1 Executive Summary
2 Market Overview
2.1 The Domestic Economy
2.2 Key Trends and Issues
2.3 Key Construction Indicators
2.4 Benchmarking by Market Size and Growth
2.5 Price Dynamics
2.5.1 Salaries
2.5.2 Equipment
2.5.3 Materials
2.5.4 Energy
2.6 Porters Five Forces Analysis
2.6.1 Bargaining power of suppliers – medium
2.6.2 Bargaining power of buyers – low
2.6.3 Barriers to entry – medium
2.6.4 Intensity of rivalry – high
2.6.5 Threat of substitution – medium
2.7 Demographic Profile
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Projects Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Projects Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Projects Highlights
6 Institutional Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Projects Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Projects Highlights
8 Company Profile: Hyundai Engineering & Construction Co., Ltd
8.1 Hyundai Engineering & Construction Co., Ltd – Company Overview
8.2 Hyundai Engineering & Construction Co., Ltd – Business Description
8.3 Hyundai Engineering & Construction Co., Ltd – Main Services
8.4 Hyundai Engineering & Construction Co., Ltd – History
8.5 Hyundai Engineering & Construction Co., Ltd – Company Information
8.5.1 Hyundai Engineering & Construction Co., Ltd. – key competitors
8.5.2 Hyundai Engineering & Construction Co., Ltd – key employees
9 Company Profile: Samsung Engineering Co., Ltd
9.1 Samsung Engineering Co., Ltd – Company Overview
9.2 Samsung Engineering Co., Ltd – Business Description
9.3 Samsung Engineering Co., Ltd – Main Services
9.4 Samsung Engineering Co., Ltd. – History
9.5 Samsung Engineering Co., Ltd – Company Information
9.5.1 Samsung Engineering Co., Ltd – key competitors
9.5.2 Samsung Engineering Co., Ltd – key employees
10 Company Profile: GS Engineering & Construction Corporation
10.1 GS Engineering & Construction Corporation – Company Overview
10.2 GS Engineering & Construction Corporation – Business Description
10.3 GS Engineering & Construction Corporation – Main Services
10.4 GS Engineering & Construction Corporation – History
10.5 GS Engineering & Construction Corporation – Company Information
10.5.1 GS Engineering & Construction Corporation – key competitors
10.5.2 GS Engineering & Construction Corporation – key employees
11 Company Profile: Daelim Industrial Co., Ltd
11.1 Daelim Industrial Co., Ltd – Company Overview
11.2 Daelim Industrial Co., Ltd – Business Description
11.3 Daelim Industrial Co., Ltd – Main Services
11.4 Daelim Industrial Co., Ltd – History
11.5 Daelim Industrial Co., Ltd – Company Information
11.5.1 Daelim Industrial Co., Ltd – key competitors
11.5.2 Daelim Industrial Co., Ltd – key employees
12 Company Profile: Kumho Industrial Co., Ltd
12.1 Kumho Industrial Co., Ltd – Company Overview
12.2 Kumho Industrial Co., Ltd – Business Description
12.3 Kumho Industrial Co., Ltd – Main Services
12.4 Kumho Industrial Co., Ltd – History
12.5 Kumho Industrial Co., Ltd – Company Information
12.5.1 Kumho Industrial Co., Ltd – key competitors
12.5.2 Kumho Industrial Co., Ltd – key employees
13 Market Data Analysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutional Construction
13.5.1 Institutional construction output by project type
13.5.2 Institutional construction output by cost type
13.5.3 Institutional construction output by activity type
13.5.4 Institutional construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is this Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric’s Services
14.7.1 Core capabilities include:
14.8 Disclaimer
List of Tables
Table 1: Project 1 – UEC - Incheon Casino Resort Development - South Korea
Table 2: Project 2 – IMI - Ilsang Hwayang Destination Green Resort - Jeollanam-Do
Table 3: Project 3 – NSIC - Songdo IBD Commercial Block C6 - South Korea
Table 4: Project 1 – OCI - Saemangeum Solar Energy Materials Complex - North Jeolla
Table 5: Project 2 – Samsung - Saemangeum Green Energy Industrial Park - North Jeolla
Table 6: Project 3 – OCI - Polysilicon Manufacturing Facility - North Jeolla
Table 7: Project 1 – KR - Honam High-Speed Railway - South Korea
Table 8: Project 2 – KEC - Donghongcheon Yangyang Expressway - Gangwon
Table 9: Project 3 – MLTM - Sin Bundang Railway Line Extension: Phase II - Seoul
Table 10: Project 1 – HSC - Dangjin Hospital Development - South Chungcheong
Table 11: Project 2 – KMoND/SNUBH - Seongnam Trauma Center - South Korea
Table 12: Project 3 – GGP - Gyeongsangbukdo Nuclear Research Center - South Korea
Table 13: Project 1 – SLC - Songdo Landmark City Block A4 - Sudogwon
Table 14: Project 2 – NSIC - Songdo IBD Residential Block F21 - South Korea
Table 15: Project 3 – Yongsan - The Cloud Residential Towers - Seoul
Table 16: Hyundai Engineering & Construction Co., Ltd, Key Facts
Table 17: Hyundai Engineering & Construction Co., Ltd, Main Services
Table 19: Hyundai Engineering & Construction Co., Ltd, Key Employees
Table 20: Samsung Engineering Co., Ltd, Key Facts
Table 21: Samsung Engineering Co., Ltd, Main Services
Table 22: Samsung Engineering Co., Ltd, History
Table 23: Samsung Engineering Co., Ltd., Key Employees
Table 24: GS Engineering & Construction Corporation, Key Facts
Table 25: GS Engineering & Construction Corporation, Main Services
Table 27: GS Engineering & Construction Corporation, Key Employees
Table 28: Daelim Industrial Co., Ltd, Key Facts
Table 29: Daelim Industrial Co., Ltd, Main Services
Table 30: Daelim Industrial Co., Ltd, History
Table 31: Daelim Industrial Co., Ltd, Key Employees
Table 32: Kumho Industrial Co., Ltd, Key Facts
Table 33: Kumho Industrial Co., Ltd., Main Services
Table 34: Kumho Industrial Co., Ltd, History
Table 35: Kumho Industrial Co., Ltd., Key Employees
Table 36: South Korean Construction Output by Project Type (KRW Million), 2008–2012
Table 37: South Korean Construction Output by Project Type (KRW Million), 2012–2017
Table 38: South Korean Construction Output by Cost Type (KRW Million), 2008–2012
Table 39: South Korean Construction Output by Cost Type (KRW Million), 2012–2017
Table 40: South Korean Construction Output by Activity Type (KRW Million), 2008–2012
Table 41: South Korean Construction Output by Activity Type (KRW Million), 2012–2017
Table 42: South Korean Construction Value Add by Project Type (KRW Million), 2008–2012
Table 43: South Korean Construction Value Add by Project Type (KRW Million), 2012–2017
Table 44: South Korean Commercial Construction Output by Project Type (KRW Million), 2008–2012
Table 45: South Korean Commercial Construction Output by Project Type (KRW Million), 2012–2017
Table 46: South Korean Commercial Construction Output by Cost Type (KRW Million), 2008–2012
Table 47: South Korean Commercial Construction Output by Cost Type (KRW Million), 2012–2017
Table 48: South Korean Commercial Construction Output by Activity Type (KRW Million), 2008–2012
Table 49: South Korean Commercial Construction Output by Activity Type (KRW Million), 2012–2017
Table 50: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2008–2012
Table 51: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2012–2017
Table 52: South Korean Industrial Construction Output by Project Type (KRW Million), 2008–2012
Table 53: South Korean Industrial Construction Output by Project Type (KRW Million), 2012–2017
Table 54: South Korean Industrial Construction Output by Cost Type (KRW Million), 2008–2012
Table 55: South Korean Industrial Construction Output by Cost Type (KRW Million), 2012–2017
Table 56: South Korean Industrial Construction Output by Activity Type (KRW Million), 2008–2012
Table 57: South Korean Industrial Construction Output by Activity Type (KRW Million), 2012–2017
Table 58: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2008–2012
Table 59: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2012–2017
Table 60: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2008–2012
Table 61: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2012–2017
Table 62: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2008–2012
Table 63: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2012–2017
Table 64: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2008–2012
Table 65: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2012–2017
Table 66: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2008–2012
Table 67: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2012–2017
Table 68: South Korean Institutional Construction Output by Project Type (KRW Million), 2008–2012
Table 69: South Korean Institutional Construction Output by Project Type (KRW Million), 2012–2017
Table 70: South Korean Institutional Construction Output by Cost Type (KRW Million), 2008–2012
Table 71: South Korean Institutional Construction Output by Cost Type (KRW Million), 2012–2017
Table 72: South Korean Institutional Construction Output by Activity Type (KRW Million), 2008–2012
Table 73: South Korean Institutional Construction Output by Activity Type (KRW Million), 2012–2017
Table 74: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2008–2012
Table 75: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2012–2017
Table 76: South Korean Residential Construction Output by Project Type (KRW Million), 2008–2012
Table 77: South Korean Residential Construction Output by Project Type (KRW Million), 2012–2017
Table 78: South Korean Residential Construction Output by Cost Type (KRW Million), 2008–2012
Table 79: South Korean Residential Construction Output by Cost Type (KRW Million), 2012–2017
Table 80: South Korean Residential Construction Output by Activity Type (KRW Million), 2008–2012
Table 81: South Korean Residential Construction Output by Activity Type (KRW Million), 2012–2017
Table 82: South Korean Residential Construction Value Add by Project Type (KRW Million), 2008–2012
Table 83: South Korean Residential Construction Value Add by Project Type (KRW Million), 2012–2017
Table 84: Timetric Construction Market Definitions
List of Figures
Figure 1: Growth Matrix for Construction Output in South Korea
Figure 2: South Korean Economic Outlook, 2008–2017
Figure 3: South Korean Construction – Real Gross Valued Added (Annual Percentage), 2006–2012
Figure 4: South Korean Value of Construction Orders Received (KRW Million), 2008–2012
Figure 5: South Korean Residential Property Prices (Jun 2011=100), 2008–2012
Figure 6: Benchmarking Against Other Construction Industries
Figure 7: South Korean Population (Million), 2008–2017
Figure 8: South Korean Commercial Construction Output (US$ Million), 2008–2017
Figure 9: South Korean Industrial Construction Output (US$ Million), 2008–2017
Figure 10: South Korean Infrastructure Construction Output (US$ Million)
Figure 11: South Korean Institutional Construction Output (US$ Million), 2008–2017
Figure 12: South Korean Residential Construction Output (US$ Million), 2008–2017
Figure 13: South Korean Construction Output by Project Type (KRW Million), 2008–2017
Figure 14: South Korean Construction Output by Cost Type (KRW Million), 2008–2017
Figure 15: South Korean Construction Output by Activity Type (KRW Million), 2008–2017
Figure 16: South Korean Construction Value Add by Project Type (KRW Million), 2008–2017
Figure 17: South Korean Commercial Construction Output by Project Type (KRW Million), 2008–2017
Figure 18: South Korean Commercial Construction Output by Cost Type (KRW Million), 2008–2017
Figure 19: South Korean Commercial Construction Output by Activity Type (KRW Million), 2008–2017
Figure 20: South Korean Commercial Construction Value Add by Project Type (KRW Million), 2008–2017
Figure 21: South Korean Industrial Construction Output by Project Type (KRW Million), 2008–2017
Figure 22: South Korean Industrial Construction Output by Cost Type (KRW Million), 2008–2017
Figure 23: South Korean Industrial Construction Output by Activity Type (KRW Million), 2008–2017
Figure 24: South Korean Industrial Construction Value Add by Project Type (KRW Million), 2008–2017
Figure 25: South Korean Infrastructure Construction Output by Project Type (KRW Million), 2008–2017
Figure 26: South Korean Infrastructure Construction Output by Cost Type (KRW Million), 2008–2017
Figure 27: South Korean Infrastructure Construction Output by Activity Type (KRW Million), 2008–2017
Figure 28: South Korean Infrastructure Construction Value Add by Project Type (KRW Million), 2008–2017
Figure 29: South Korean Institutional Construction Output by Project Type (KRW Million), 2008–2017
Figure 30: South Korean Institutional Construction Output by Cost Type (KRW Million), 2008–2017
Figure 31: South Korean Institutional Construction Output by Activity Type (KRW Million), 2008–2017
Figure 32: South Korean Institutional Construction Value Add by Project Type (KRW Million), 2008–2017
Figure 33: South Korean Residential Construction Output by Project Type (KRW Million), 2008–2017
Figure 34: South Korean Residential Construction Output by Cost Type (KRW Million), 2008–2017
Figure 35: South Korean Residential Construction Output by Activity Type (KRW Million), 2008–2017
Figure 36: South Korean Residential Construction Value Add by Project Type (KRW Million), 2008–2017
Read the full report:
Construction in South Korea – Key Trends and Opportunities to 2017
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: http://www.reportbuyer.com
Sarah Smith, Research Advisor at Reportbuyer.com, +44 208 816 85 48, [email protected]
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