South Korea’s cement consumption advanced further in 2021, but challenges, including bituminous coal supply issues, have hampered the industry’s ability to increase production. Meanwhile, improving the sustainability of cement production, carbon neutral research and ESG efforts remain high on the industry’s agenda. By Korean Cement Association, South Korea.
In 2021 construction orders in South Korea amounted to KRW197.1trn (US$154.4bn), an increase of 9.6 per cent YoY (see Figure 1). After reaching a peak in 2016, construction orders declined in the subsequent years before returning to growth in 2019. Since then a clear upward trend has been registered.
On the other hand, construction investment in 2021 only increased slightly compared to construction orders due to a sharp rise in construction materials prices given difficulties in importing raw materials and secondary materials.
