Investment in infrastructure is a key growth driver for South Korea’s construction sector according to Timetric. The country has stepped up infrastructure development ahead of the 2018 Winter Olympics. Infrastructure construction is expected to be the fastest growing section of the country’s construction industry, with a predicted CAGR of 3.47% in 2013 – 2017. Within this, rail infrastructure is the principle area of growth. It is expected to record a CAGR of 3.87% over the same period. The government plans to build a train line between Wonju and Olympic host cities Pyeongchang and Gangneung. The project, which represents an investment of US$3.7 billion, aims to increase the share of freight from 8% to 19%.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/06082013/south_korea_infrastructure_construction_boosted_by_olympic_preparations_94/