New Year's Fete for Construction Industry

Prime Minister Han calls on the industry to lead the economic resurgence with government support

The Korean Federation of Construction Industry Societies held a New Year ceremony attended by Prime Minister Han Seung-soo and some 1,000 executives and representatives of construction firms at Lotte Hotel in downtown Seoul on Jan. 7. Among the dignitaries present at the gathering were Minister Chung Jong-hwan of the Ministry of Land, Transport and Maritime Affairs; Rep. Lee Byung-suk, chairman of the National Assembly Land, Transport and Maritime Affairs Committee; Reps. Jang Kwang-keun, Shim Dae-pyung, Kim Young-sun, Kim Gi-hyeon, Paik Sung-woon and Lee Jong-heuk, among others.
Prime Minister Han, in his congratulatory speech, said the government will do its best to support the construction industry so that the industry can play a leading role in economic recovery efforts. He said the government will invest in social overhead capital projects among the 10 largest 'New Deal' projects for a quick economic resurgence and the creation of as many jobs as possible around the country.
The prime minister went on to say that what the construction industry needs right now is unbreakable courage and the challenging spirit shown by senior leaders of the industry that have made a great contribution to put the country where it is today to rank the 11th largest economy in the world.
"It was their never-die spirit displayed everywhere they went for construction projects around the world, creating great legends in construction," Han said, adding that he is sure the current economic crisis can be overcome with the same spirit.
Chairman Kwon Hong-sa of the federation said the current crisis can be addressed properly only when government, business and the public can put their collective wisdom together and unite. He called on the government to expand investments in construction projects in a pre-emptive way to spark an economic resurgence.
He also called on the construction industry to do all it can to revive the economy, not just to look for the government to save the economy. The chairman went on to say that the construction industry should sustain its investments in R&D activities to develop new technologies so that it can be a future growth engine for green growth to be achieved through such projects as the four rivers renovation project launched by the government with the expectation of a second "Miracle on the Han River."
Kwon said the river renovation project will undoubtedly help local economies along the waterways and contribute greatly to creating jobs around the country. But as the old saying goes, "Wise men never search for chances, they create them."
The association holds the New Year's ceremony every year to provide an opportunity for people in the construction industry to make a firm resolve to make a new start and attack head-on the challenges in the new year.
In the meantime, Chairman Kwon signed an MOU with Chairman Khanov Masudovich of the State Committee of Uzbekistan on Architecture and Construction covering $1.4 billion worth of construction projects in the Central Asian country to make inroads for Korean construction firms into the former Soviet state, which has been inaccessible to Korean builders up to now.
Chairman Kwon called for government help for Korean builders to take on construction projects in Uzbekistan in such areas as social overhead capital such as railroads and industrial parks for foreign companies.
Kwon said the construction firms will also transfer construction technologies to the Uzbeks so that they can make their country strong in construction in Central Asia. The MOU states that the CAK and the Uzbekistan construction authority are obligated to cooperate in such areas as design, construction, construction material and other industrial areas.
Uzbekistan became an independent state with the collapse of the Soviet Union in 1991. The country, with a population of 26 million, has huge reserves of untapped natural resources including oil, gas, gold and other precious minerals. The country failed in the past to attract enough foreign capital to explore its natural resources, but the situation has changed recently with many large construction projects being undertaken in the country such as sports domes and business centers located in or around the capital Tashkent. The country's construction market is worth $1.4 billion annually.
Korean builders have secured a total of $400 million worth of construction projects in Uzbekistan to date. nw

Dignitaries led by Prime Minister Han Seung-soo, 5th R, cut the cake at New Year's reception held by the Korea Federation of Construction Industry Societies at Lotte Hotel Jan. 7. Also in the photo are KFCIS Chairman Kwon Hong-sa, 4th R, Minister Chung Jong-hwan of the Ministry of Land, Transport and Maritime Affairs, 4th L, and Rep. Jang Kwang-keun, 2nd R, among others. Prime Minister Han Seung-soo delivers a speech at the New Year's reception held by the Korean Federation of Construction Industry Societies. Also Present were Reps. Lee Byung-suk , chairman of the National Assembly Land, Transport and Maritime Affairs Committee, 3rd R, and Park Sang-eun.