Medium-sized construction companies in Gyeongnam, South Korea, are facing financial difficulties and have applied for court receivership, causing damage to their subcontractors. The reasons for the crisis include large-scale unsold units, increased unpaid amounts in PF project sites, a surge in construction costs due to rising raw material prices, and a slump in the construction industry. There are calls for support measures such as expanding public construction orders, increasing the number of orders for local construction companies, and reviewing incentives to increase the subcontracting rate of local construction companies.
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Auto-posted at: 2025-03-16 21:54:41