South Korea Plant Construction Cost Index
Subscribe & Adjust Industrial Plant Capital Costs in South Korea over Time
Plant Construction Indexes (IC Indexes) are unbiased multipliers for instantaneously adjusting construction costs of industrial plants over time. These monthly series measure the changes in the average cost of constructing a manufacturing plant, with historical data and short-term forecasts available to predict trends.
IC indexes and key manufacturing cost factors in South Korea and up to 32 other countries are provided with the annual subscription to Intratec Industry Economics Worldwide.
Chart Description. The IC Index for South Korea experienced a 5% increase in August 2019, up from the previous year's index value of 130, reaching a value of 136. This means that the average cost of constructing an industrial plant in South Korea has risen by 5% during this period. For example, if the cost of building a plant in South Korea was USD 100 million in August 2018, the 5% increase in the IC Index suggests that the same plant would cost approximately USD 105 million in August 2019.
Data Use. The monthly IC indexes series measure the change in the average cost at which a plant is constructed. All available IC indexes series start back in January 2000 (base period) when the indexes are set at 100 (base value). IC indexes and key manufacturing cost factors in South Korea and up to 32 other countries are provided with the annual subscription to Intratec Industry Economics Worldwide. To better understand data provided check Intratec Industry Economics Worldwide Methodology .
Data Delivery Methods. IC Indexes are available via different delivery methods: (i) online charts; (ii) directly into Excel (using Intratec Add-in); or (iii) a web API (to facilitate integration with existing workflows).
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About IC Indexes. IC Indexes are based on a robust methodology, which involves gathering and processing a huge amount of data from several countries. The index reconciles prices trends of fundamental components of an industrial plant construction such as labor, material and energy, providing meaningful historical and forecast data for users.
IC Indexes are straightforward, handy tools for a series of purposes, like capex estimation, feasibility studies and investment analysis. Intratec Plant Construction Indexes cover as many as 33 countries, and are suitable for industrial plants from several sectors, spanning the fields of Oil & Energy, Fertilizers & Gases, Olefins & Derivatives, Aromatics & Derivatives, Alcohols & Organic Acids, Inorganic Chemicals, Polymers, Food & Nutrition, Metals & Mining, Pharmaceuticals and Water & Utilities.
About South Korea Manufacturing Industry. South Korea's economy is one of the most advanced in the world, characterized by a highly developed industrial base that plays a significant role in both national and global markets. Known for its innovative technology and strong export orientation, South Korea excels in various sectors, including electronics, automotive, shipbuilding, and petrochemicals. The manufacturing sector is a crucial contributor to South Korea’s GDP, driving employment and economic growth.
The South Korean manufacturing industry is distinguished by its focus on high-quality production and cutting-edge technology. With a highly skilled workforce and significant investments in research and development, South Korea has established itself as a leader in producing high-value goods. The electronics and automotive sectors, in particular, are renowned for their technological advancements and global competitiveness.
As South Korea adapts to global economic trends, such as sustainability and digital transformation, its manufacturing sector remains essential to economic resilience. The country is increasingly investing in green technologies and smart manufacturing practices, reinforcing its commitment to sustainable industrial development. With a strong emphasis on innovation and technological advancement, South Korea is well-positioned to maintain its status as a key player in the global manufacturing landscape for years to come.
