South Korea Q1 construction contracts climb 23% on semiconductor and data‑center surge

South Korea's Ministry of Land, Infrastructure and Transport reported that construction contract value reached 74.1 trillion won in the first quarter, a 23.4% increase from the same period last year. The private sector accounted for 49 trillion won, up 35.6%, largely driven by expansion of semiconductor production facilities and data‑center projects. The public sector recorded 25.1 trillion won, a 5% rise.

By work type, civil engineering (including industrial equipment and landscaping) rose 35.8% to 29 trillion won, with industrial equipment contracts surging 159% to 11 trillion won. Pure civil works reached 17 trillion won and landscaping 1 trillion won, each up about 6%. Building contracts grew 16.6% to 45.1 trillion won, supported by factory expansions and housing developments.

The top 1‑50 construction firms saw contract values rise 40.2% to 37.7 trillion won. Regionally, the Seoul metropolitan area posted 39.2 trillion won, up 41.8%, while non‑metropolitan areas recorded 34.9 trillion won, up 7.8%. The current level follows a dip after the 2022 second‑quarter peak of 82.7 trillion won, indicating a recovery in the sector.