South Korea Construction Materials Tenders

The South Korean construction materials market is a significant sector, generating approximately $12.6 billion in revenue in 2022. This represents a compound annual growth rate (CAGR) of 1.4% between 2017 and 2022. The market is driven by factors such as urbanization, infrastructure development, and increasing disposable incomes.

Government procurement plays a crucial role in the South Korean construction materials market. In 2022, the government procured approximately $2.5 billion worth of construction materials. The main products and services procured include.

The South Korean government procures a wide range of construction materials products and services, including:
Cement: Cement is a key ingredient in concrete, which is used in a variety of construction projects.
Steel: Steel is used in the construction of buildings, bridges, and other structures.
Aggregates: Aggregates are sand, gravel, or crushed stone that are used in concrete and asphaltic pavement.
Timber: Timber is used in the construction of buildings, furniture, and other products.

The top authorities responsible for construction materials procurement in South Korea include:
Ministry of Land, Infrastructure, and Transport (MOLIT)
Public Procurement Service (PPS)
Korea Forest Service (KFS)

The top winners of construction materials procurement contracts in South Korea include:
POSCO
GS Caltex
Hyundai Cement
Dongbu Steel
Hanwha Life Insurance

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