IMARC Group has recently released a new research study titled “South Korea Construction Market Report by Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction, Energy and Utilities Construction), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Construction Market Overview

The South Korea construction market size was valued at USD 260.0 Billion in 2024 and is forecast to reach USD 470.0 Billion by 2033, exhibiting a CAGR of 6.2% during the 2025-2033 period. Key growth drivers include government initiatives, rapid urbanization, infrastructural development, technological advancements, and rising environmental concerns. Increasing foreign investments and political stability further support sustained growth in the construction sector.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

South Korea Construction Market Key Takeaways

• Current Market Size: USD 260.0 Billion (2024)
• CAGR: 6.2% (2025-2033)
• Forecast Period: 2025-2033
• Rapid urbanization has increased demand for residential and commercial real estate, driving construction of housing complexes and office spaces.
• National infrastructure enhancements including roads, bridges, airports, and ports foster logistic and transportation investments.
• South Korean firms expanding internationally have broadened revenue sources and market exposure.
• Environmental regulations have triggered growth in green and sustainable building practices.
• Increasing foreign investment and accessible financial support facilitate large-scale project executions.
• Political stability and business-friendly policies promote long-term industry investment.

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Market Growth Factors

The South Korea construction market is propelled by rapid urbanization, which has led to surging demand for residential and commercial properties. Cities across South Korea continue to expand, resulting in construction companies undertaking large-scale projects including housing complexes, office buildings, and commercial centers to support the increasing population. This trend significantly contributes to the growth trajectory of the construction sector.

Government policies aimed at infrastructural development have played a critical role, with commitments to enhance transportation networks such as roads, bridges, airports, and ports. These infrastructural upgrades position South Korea as a vital gateway to Asia, encouraging investments in logistics infrastructure and fostering regional trade. This infrastructural focus directly supports and widens the construction market.

Environmental considerations also drive market expansion. South Korea's increasing emphasis on green and sustainable construction methods is evident in the rise of eco-friendly building designs and materials. Compliance with stringent environmental regulations has spurred the adoption of sustainable practices, improving the market's appeal to foreign investors interested in real estate, further bolstering construction activities.

Market Segmentation

Sector Insights:

• Commercial Construction: Encompasses construction of office buildings, retail spaces, and commercial centers to support business growth and urban economic activity.
• Residential Construction: Involves building housing complexes, apartments, and other living spaces that cater to the population expansion driven by urbanization.
• Industrial Construction: Covers development of manufacturing facilities, warehouses, and industrial parks supporting the manufacturing and logistics sectors.
• Infrastructure (Transportation) Construction: Includes roads, bridges, airports, ports, and other critical transportation infrastructure essential for regional connectivity and commerce.
• Energy and Utilities Construction: Involves creating power plants, utilities infrastructure, and energy facilities critical for sustaining industrial and residential needs.

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Regional Insights

The dominant region in the South Korea construction market includes key areas such as the Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and Others. These regions collectively support nationwide construction activities across sectors, leveraging rapid urban expansion and infrastructural investments to drive regional market growth.

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