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BMI's Executive Summary[TOP] After an impressive bounce-back from the 1997 financial crises that hit East and South East Asia, the Republic of Korea (South Korea) is now on its way to becoming one of the most industrialised nations in the world. The construction industry – which has been a major foreign-exchange earner for the country – was valued at US$53.26bn in 2006, and accounted for 6% of the Gross Domestic Product (GDP). This report forecasts the industry to grow at 3% per annum during 2008-2012. Overseas contracts form the mainstay of the South Korean construction industry. Some of the world's largest international contractors, including Hyundai Engineering & Construction, Daewoo Engineering & Construction and Samsung Engineering & Construction are based in the country. A South Korean construction consortium has entered into interim deals worth more than US$25bn for infrastructural development in Iraqi Kurdistan. Major projects in the pipeline in South Korea include the construction of world's largest tidal power plant, construction of two 77-storey World Trade Centre (WTC) buildings in the Incheon Free Economic Zone, and the Seoul expressway project. The government has also committed US$31.3bn for the development of power plants in the country and US$22.9bn for upgrade of facilities of schools and soldiers' apartments during 2006 to 2008. Since its recovery from the Asian financial crises, the Republic of Korea has been encouraging foreign investment. Currently, there are no major barriers to entry. However issues such as over-reliance on overseas contracts and inflationary pressures on the economy due to high crude oil prices may require some attention. BMI believes that future growth will be driven primarily by increased demand from China and Europe. Possible Free Trade Agreements (FTA) with the US and European Union (EU) may also benefit the country's construction industry which is forecast to reach KRW69.70trn (US$65.67bn) by 2012, accounting for nearly 6% of the GDP. |
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Contents[TOP] Executive SummaryChapter 1 Industry Trends And DevelopmentMarket Overview South Korean Economy In 2006 South Korea's Construction Sector In 2006 Major Companies Korean Overseas Investment Chapter 2 Key ProjectsTransport Utilities Tourism Residential And Commercial Construction Table: South Korea Major Infrastructure Projects Chapter 3 Business Environment RankingIntroduction Table: Asia Business Attractiveness Ranking Business Attractiveness Rankings Methodology Regional Overview South Korea Business Environment Ranking Economics LongTerm Risk Politics LongTerm Risk Construction Growth Competitive Environment Anticipated Potential Chapter 4 SWOT AnalysisSouth Korea Infrastructure Industry SWOT South Korea Economic SWOT South Korea Political SWOT South Korea Business Environment SWOT Chapter 5 Industry Forecast ScenarioTable: Construction Industry, Historical Data And Forecasts Risks Chapter 6 Macroeconomic OutlookTable: GDP, Output And Population Chapter 7 Competitive LandscapeTable: South Korea Infrastructure Key Players Chapter 8 Company ProfilesDaewoo Engineering & Construction Hyundai Engineering & Construction Samsung Engineering & Construction Chapter 9 BMI Forecast ModellingHow We Generate Our Industry Forecasts Construction Industry Sources
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Competitive Landscape for Asia Infrastructure Reports: Sample of Companies Ranked[TOP] Comparative company analyses and rankings by sales, % market share, employees, registration date and ownership structure. Company profiles include fully researched senior executives and contact details, business activity and leading products and services. SWOT (strengths, weaknesses, opportunities, threats) of the state’s business environment, infrastructure sector, politics and economics, which carefully evaluates the short- and medium-term issues facing the industry.
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Network of Asian Infrastructure Sources[TOP] BMI's Asian Infrastructure Reports are based on an extensive network of multilateral organisations, government departments, infrastructure industry associations, chambers of commerce and company reports. Information sources include: |
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