Issue Focus

The policy goals of Korea’s building renovation modeling are to optimize the use of resources and control waste, improve energy efficiency, prevent reckless reconstruction, improve the residential environment, and improve the life of the house. Korea's Building market is centered on new construction, but the proportion of renovation is gradually increasing. According to the analysis of the building renovation market between 2002 and 2019, non-residential buildings accounted for 95% of the total, and the proportion of residential buildings renovation decreased. Residential renovation is dominated by small-scale construction centered on detached houses. The building renovation market in Korea is estimated to be 30 trillion won in 2020, and it is expected to grow to 37 trillion won in 2025 and 44 trillion won in 2030. The basic direction of the renovation policy is that non-residential renovation should have a support system that enables market principles to work as much as possible, and for residential purposes, policy support is needed to revitalize the renovation of old houses at the residential welfare level.