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South Korea's construction industry hit a 25-year low in 2024, with revenue dropping 3.8% due to high costs and weak demand.
South Korea's construction industry saw its steepest revenue drop in 25 years in 2024, with total sales falling 3.8% to 487.7 trillion won, driven by a 5.6% decline in domestic sales and rising project risks.
Overseas revenue rose 17.1%, but the workforce declined 2.8% to 1.759 million.
The downturn was attributed to high financing costs, inflation, and weak demand, particularly in non-metropolitan areas.
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La industria de la construcción de Corea del Sur alcanzó su nivel más bajo en 25 años en 2024, con una caída de los ingresos del 3,8% debido a los altos costos y la débil demanda.