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Sun May 16 2021

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South Korea reports strong construction growth

28 Mar 17 Construction output in South Korea grew by 10.5% last year.

Expansion in construction investment helped bring about a 2.8% rise in GDP, with gross national income up 4%. Construction investment increased by 10.7%, mainly owing to growth in residential building construction.

The latest figures from the Bank of Korea show that, while construction rose by 10.5% overall, civil engineering decreased by 1.9%. The growth came from increases in both residential and non-residential building construction.

Services showed a slower expansion of 2.3%. Transportation was among areas of growth.

Manufacturing increased by 2.3%. Transportation equipment shrank but was offset by growth in petroleum and chemical products as well as electrical and electronic equipment.

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