Labour costs in the real estate sector in South Korea are forecasted to rise from 16.028 trillion South Korean Wons in 2024 to 17.662 trillion South Korean Wons in 2028. Comparing to the actual value from 2023, labour costs have shown a steady increase over the next five years, marking an annual average growth rate (CAGR) of approximately 2.47% per year. Year-on-year growth rates are expected to be 2.63% in 2025, 2.50% in 2026, 2.41% in 2027, and 2.29% in 2028.
Future trends to watch for include potential impacts of governmental policies on labour wages, technological advancements in construction, and the shifting demand dynamics in the real estate market. Monitoring these factors will be crucial in understanding and anticipating further changes in labour costs in the sector.
