South Korea Construction Tenders

South Korea boasts a robust infrastructure and construction market, contributing significantly to the nation's economic growth. The market is valued at approximately USD 245 billion and is projected to expand at a CAGR of 3.5% from 2023 to 2028. This growth is fueled by government investments in infrastructure projects and rising demand for residential and commercial construction.

The South Korean government plays a pivotal role in driving the infrastructure and construction sector, acting as the largest procurer of construction products and services. In 2022, the government allocated USD 54.9 billion towards infrastructure projects, demonstrating its commitment to stimulating economic growth and creating employment opportunities through infrastructure development.

The South Korean government prioritizes the procurement of various infrastructure and construction products and services, including:
Roads and bridges: Ensuring efficient transportation networks across the country.
Rail transport: Investing in modern and reliable rail systems for passenger and freight movement.
Energy infrastructure: Developing and maintaining sustainable energy sources to meet the nation's energy needs.
Water and sanitation infrastructure: Ensuring access to clean water and adequate sanitation facilities for all citizens.
Public buildings: Constructing and maintaining essential public buildings such as schools, hospitals, and government offices.

Several key authorities oversee infrastructure and construction procurement in South Korea, including:
Ministry of Land, Infrastructure and Transport (MOLIT): Formulating and implementing national infrastructure development policies.
Korea Expressway Corporation (KEX): Overseeing the planning, construction, and maintenance of expressways.
Korea Rail Network Authority (KRNA): Managing the nation's railway network and promoting rail transportation.
Korea Gas Corporation (KOGAS): Ensuring a stable supply of natural gas and developing gas infrastructure.
Korea Water Resources Corporation (KOWACO): Managing water resources and implementing water infrastructure projects.
Korea Building Corporation (KBC): Constructing and managing public buildings nationwide.

Several leading companies excel in the South Korean infrastructure and construction procurement landscape, including:
Samsung C&T: A renowned global construction and engineering company with a strong presence in South Korea.
Hyundai Engineering & Construction: A leading provider of engineering and construction services, particularly in the power plant and infrastructure sectors.
SK E&C: A diversified construction and engineering company with expertise in plant construction, civil engineering, and building construction.
GS Engineering & Construction: A global engineering and construction company with a focus on energy, infrastructure, and environmental projects.
Daewoo Engineering & Construction: A leading provider of engineering and construction services across various sectors, including power plants, refineries, and infrastructure.

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South Korea infrastructure and construction tenders, South Korea municipal construction tenders, South Korea local construction tenders, South Korea civil construction tenders, civil infrastructure tenders, South Korea global construction tenders, online construction tenders, South Korea building construction tenders