The building industry's revenue rose 12.4 percent over the year to 461 trillion won (355 billion U.S. dollars) in 2022, marking the fastest growth in 14 years, according to Statistics Korea.
The revenue rebounded 3.4 percent in 2021 after falling 1.9 percent in 2020 on the back of economic slowdown affected by the COVID-19 pandemic.
Construction expense expanded 12.5 percent to 439.9 trillion won (339.1 billion dollars) in 2022, while the combined added value in the construction sector gained 9.7 percent to 146.1 trillion won (112.6 billion dollars).
The number of construction companies added 2.0 percent to 87,239 last year, and the number of employees in the building industry climbed 5.3 percent to 1.74 million.
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