Online Research Company Research and Markets is offering a report titled “Construction in South Korea-Key Trends and Opportunities to 2016”. The review period taken for consideration is between the years 2007 to 2011.
According to the report foreign construction projects have been on the rise over the past few years which has led to the expansion of the profile of local companies and helped the country earn export revenues. However, the global financial crisis affected and played an important role in the construction industry in South Korea.
CAGR of the industry dropped to 2.07%. While the industry grew by 9.1% in 2007, growth in 2008 was slowed down to 8.0%. The onset of the global financial crisis further slowed down the growth of the industry to 4.5%, which was compounded during the years 2010 and 2011 when the industry recorded a CAGR of 1.6% and 2.3% respectively. The report also states that during the course of the forecast period, growth is likely to resume due to investments by the government in infrastructure combined with improving global financial conditions. Major projects such as the construction of a film and entertainment complex in Seoul during the forecast period are likely to push CAGR to 4.8%. Institutional construction market will be boosted by healthcare and education sectors where investments in the healthcare sector will be driven by aging population investment in education will be fuelled by governmental spending. Popular companies that have been discussed in the report are Daewoo Engineering and Construction, Hyundai Engineering and Construction, Samsung Engineering, GS Engineering and Construction and Kumho Industrial.
Source: http://www.researchandmarkets.com