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South Korea Infrastructure Report Q3 2016

  • May 2016
  • -
  • Business Monitor International
  • -
  • 86 pages

Includes 3 FREE quarterly updates

BMI View: We maintain our growth forecast for South Korea's construction sector, noting theinfrastructure sector, with the energy and utilities sub-sector in particular, will provide limited support togrowth. However, this will be insufficient to offset the declines in the residential construction market due tothe implementation of new mortgage rules from early 2016 and high levels of household debt, which willlimit demand for residential property.

Latest Updates And Structural Trends

- We expect South Korea's construction sector to expand slightly, growing by 1.41% in 2016 and 1.32% in2017, supported by government investment in infrastructure and continued building in the run-up to the2018 Pyeongchang Winter Olympics.

- Overall building industry growth will remain in negative territory over our forecast period from2016-2025 due to negative growth rates in the non-residential building sector and weak long-term growthin the residential building sector.

- Increasing amounts of household debt as a result of loose monetary policy will curtail demand for newhousing. Furthermore, stagnant wages and high levels of youth unemployment suggest the demand forresidential property is unlikely to rise. In addition to an ageing population, the implementation of newamortised loan rules and an increasing oversupply of new homes provide a weak long-term picture for theresidential building sector.

- The government has maintained its commitment to investing in the infrastructure sector and growth inthis sector will help counter declines in the building industry and ensure the country's overall constructionindustry growth remains in positive territory. In particular, the energy and utilities sector is set tooutperform the rest of the sub-sectors due to growth in the power plants and transmission gridsinfrastructure sector.- Despite the continued focus on thermal projects, there are large opportunities in the nuclear infrastructuresector in South Korea in future. The need to replace old reactors, growing energy demand, the costcompetitivenessof nuclear and efforts to reduce greenhouse gas emissions will see more nuclear plantscoming online in South Korea. The nuclear projects, which are high cost, will drive forwardinfrastructure spending, along with thermal power projects.

Table Of Contents

South Korea Infrastructure Report Q3 2016
BMI Industry View 7
Latest Updates And Structural Trends 7
Table: Infrastructure - Construction Industry Forecasts (South Korea 2015-2021) 8
Table: Infrastructure Risk/Reward Index (South Korea 2016) 8
SWOT 9
Infrastructure SWOT 9
Industry Forecast 11
Construction And Infrastructure Forecast Scenario 11
Table: Construction And Infrastructure Industry Data (South Korea 2015-2025) 11
Latest Updates 11
Structural Trends 13
Transport Infrastructure - Outlook And Overview 16
Latest Updates 16
Table: Transport Infrastructure Industry Data (South Korea 2015-2025) 17
Structural Trends 17
Roads 18
Railway 19
Airports 22
Ports 23
Table: Key Transport Projects 24
Energy And Utilities Infrastructure - Outlook And Overview 25
Latest Updates 25
Table: Energy And Utilities Infrastructure Data (South Korea 2015-2025) 25
Structural Trends 25
Thermal Sources Maintain Dominance 28
Renewables Outlook Clouded By Cheaper Alternatives 32
Transmission 33
Table: Key Projects: Energy and Utilities 34
Residential/Non-Residential Building - Outlook And Overview 35
Latest Updates 35
Table: Residential and Non-Residential Building Industry Data (South Korea 2015-2025) 35
Table: Construction And Social Infrastructure Key Projects 42
Industry Risk Reward Ratings 44
South Korea - Infrastructure Risk/Reward Index 44
Rewards 44
Risks 45
APAC Infrastructure RRI: Affirming A Benign 2016 Outlook 46
Table: Asia Risk/Reward Index 52
Market Overview 53
Competitive Landscape 53
Table: EQS Data 53
Company Profile 56
Hyundai Engineering and Construction 56
Doosan Heavy Industries and Construction 63
GS Engineering and Construction 68
Samsung CandT 74
Methodology 79
Industry Forecast Methodology 79
Sector-Specific Methodology 80
Risk/Reward Index Methodology 84
Sector-Specific Methodology 85
Table: Infrastructure Risk/Reward Index Indicators 85
Table: Weighting Of Indicators 86

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