Construction Market in South Korea Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Market Report Covers Construction Companies in South Korea and is Segmented by Sector (Residential Construction, Commercial Construction, Industrial Construction, Infrastructure (Transportation) Construction, and Energy and Utilities Construction). The market size and forecasts for the South Korean construction market are provided in terms of value (USD billion) for all the above segments.

Construction Market in South Korea Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

South Korea Construction Market Size

South Korea Construction Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 4.05 %
Market Concentration Low

Major Players

South Korea Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of South Korea Construction Market with other markets in Real Estate and Construction Industry

Real Estate

Construction

South Korea Construction Market Analysis

The South Korea Construction Market is expected to register a CAGR of greater than 4.05% during the forecast period.

  • COVID-19 had a significant impact on the construction industry in South Korea, with supply chain issues, a halt to planning and inspection timelines, and new measures to ensure worker health and safety.
  • Following a 1.4% decline in 2020, the South Korean construction industry contracted by 1.4% in 2021. The downward revision was due to increased COVID-19 infection rates, a drop in construction output in the first three quarters of 2021, and disruptions in construction activity.
  • The construction industry's value add decreased by 0.9% year on year (Y-o-Y) in real terms in the third quarter of 2021, according to the Korean Statistical Information Service (KOSIS), following a decline of 3.4% in the second quarter and growth of 3.2% in the first.
  • In February 2021, the government announced that it would build 830,000 houses across the country over the next four years, with 323,000 in Seoul and 293,000 in nearby Gyeonggi Province and Incheon.
  • In 2022, the industry recovered, growing by 4.1%, due to significant spending outlined in the proposed budget for 2022 and the implementation of planned energy projects.

South Korea Construction Industry Overview

The report covers the major players operating in the South Korean construction market. The market is moderately fragmented, with some major players like Samsung C&T., Hyundai E&C, GS E&C, Daewoo E&C, etc. South Korea's local construction market has grown significantly, mainly due to a significant increase in private residential construction by contractors.

South Korea Construction Market Leaders

  1. Samsung C&T

  2. Hyundai E&C

  3. GS E&C

  4. Daewoo E&C

  5. POSCO E&C

  6. *Disclaimer: Major Players sorted in no particular order
South Korea Construction Market Market Concentration
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South Korea Construction Market News

  • September 2022: GS Engineering and Construction partnered with German chemical giant BASF to jointly modularize a carbon capture solution, which would work as the framework for their future projects. The latest deal would focus on co-developing and translating BASF's OASE blue technology - an optimized large-scale post-combustion capture technology -- into a modular carbon capture solution. According to GS EC., OASE blue enables its user to capture carbon selectively through a liquid solution. BASF will provide data on carbon capture technology, while GS EC will standardize related designs and construction through its experience in handling large-scale petrochemical plant projects.
  • March 2022: GS E&C signed a memorandum of understanding (MOU) on the modularization of biodiesel production facilities with Haldor Topsoe, a Danish company specializing in carbon reduction technologies. GS E&C plans to standardize and modularize Haldor Topsoe's HydroFlex biodiesel production technology. Haldor Topsoe will provide information on its biodiesel production technology. At the same time, GS E&C will standardize the design and construction of the plant based on its modularization expertise accumulated through large-scale refinery and chemical plant projects.

South Korea Construction Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS AND INSIGHTS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Opportunities
  • 4.4 Market Restraints
  • 4.5 Value Chain/Supply Chain Analysis
  • 4.6 Porter's Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers/Consumers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitute Products
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Current Economic and Construction Market Scenario
  • 4.8 Technological Innovations in the Construction Sector
  • 4.9 Impact of Government Regulations and Initiatives on the Industry
  • 4.10 Impact of COVID - 19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Sector
    • 5.1.1 Residential Construction
    • 5.1.2 Commercial Construction
    • 5.1.3 Industrial Construction
    • 5.1.4 Infrastructure (Transportation) Construction
    • 5.1.5 Energy and Utilities Construction

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Company Profiles
    • 6.2.1 Samsung C&T
    • 6.2.2 Hyundai E&C
    • 6.2.3 GS E&C
    • 6.2.4 Daewoo E&C
    • 6.2.5 POSCO E&C
    • 6.2.6 Daelim Industrial
    • 6.2.7 Hyundai Engineering
    • 6.2.8 Lotte E&C
    • 6.2.9 HDC (Hyundai Development Company)
    • 6.2.10 Hoban Construction*
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

8. APPENDIX

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South Korea Construction Industry Segmentation

Construction is a general term meaning the art and science of forming objects, systems, or organizations. Construction is an industry that includes the erection, maintenance, and repair of buildings and other immobile structures and the building of roads and service facilities that become integral parts of structures and are essential to their use.

The South Korean construction market is segmented by sector (residential construction, commercial construction, industrial construction, infrastructure (transportation) construction, and energy and utilities construction). The report offers market size and forecasts for the South Korean construction market in value (USD billion) for all the above segments.

By Sector Residential Construction
Commercial Construction
Industrial Construction
Infrastructure (Transportation) Construction
Energy and Utilities Construction
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South Korea Construction Market Research FAQs

What is the current South Korea Construction Market size?

The South Korea Construction Market is projected to register a CAGR of greater than 4.05% during the forecast period (2025-2030)

Who are the key players in South Korea Construction Market?

Samsung C&T, Hyundai E&C, GS E&C, Daewoo E&C and POSCO E&C are the major companies operating in the South Korea Construction Market.

What years does this South Korea Construction Market cover?

The report covers the South Korea Construction Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South Korea Construction Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Construction in South Korea Industry Report

Statistics for the 2025 South Korea Construction market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Construction analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.