South Korea's Ministry of Land, Infrastructure and Transport announced the 5th Overseas Construction Promotion Master Plan on the 5th, outlining a strategic transformation of the nation's overseas construction industry over the next five years. The initiative aims to shift the sector from simple construction contracting to a technology-driven, high-value-added model integrating advanced engineering capabilities with global financial partnerships. The plan targets emerging sectors including small modular reactors (SMR), data centers, floating liquefied natural gas platforms (FLNG), AI-integrated cities, carbon capture utilization and storage (CCUS), and biomass energy, supported by diversified funding mechanisms through the Korea Overseas Infrastructure and Urban Development Corporation (KIND) and collaborations with global developers such as Macquarie and Sumitomo, as well as multilateral development banks (MDBs).
MOLIT Targets Technology-Driven Construction Models in New Sectors
The Ministry plans to diversify order models based on proprietary construction technology. Target sectors include small modular reactors (SMR), data centers, and floating liquefied natural gas platforms (FLNG). The Ministry will integrate infrastructure projects such as railways and airports with signaling and communication systems, and actively support overseas expansion of AI-integrated cities. Strategic technologies including carbon capture, utilization and storage (CCUS) and biomass will receive phased support from market exploration through commercialization.
![Ministry of Land, Infrastructure and Transport]()
Ministry of Land, Infrastructure and Transport [Source: Yonhap News file photo]
KIND Establishes Infrastructure Funds with Global Financial Partners
To support the technology-driven expansion, the Korea Overseas Infrastructure and Urban Development Corporation (KIND) will establish new infrastructure funds including corporate matching funds and country-specific strategic funds. The Ministry will build cooperation networks with global developers such as Macquarie and Sumitomo, as well as multilateral development banks (MDBs), to enhance order competitiveness through diversified global financial linkages.
Korea-US Cooperation Mission Advances Nevada Lithium-Boron Plant Project
The Ministry dispatched a Korea-US Cooperation Order Support Mission to Washington D.C. from the 5th to the 9th, led by First Vice Minister Kim Yi-tak. The mission will attend the MOU signing ceremony for the Nevada lithium-boron plant construction project. The project has secured a US Department of Energy loan commitment, with KIND pursuing equity investment and Hyundai Engineering pursuing EPC (engineering, procurement, construction) participation. Vice Minister Kim will meet with the US Department of Agriculture Under Secretary to discuss expanding Korea-US infrastructure cooperation scope, and will meet with the World Bank Infrastructure Vice President to explore strategic cooperation measures in the infrastructure sector.
Vice Minister Kim Yi-tak stated, "This Korea-US Cooperation Order Support Mission is the first global financial cooperation project pursued after establishing the 5th Overseas Construction Promotion Master Plan. We will strengthen support to enable Korean companies to participate in US core supply chain plant construction, and will discover investment-development projects linked with global finance to support the structural transformation of the overseas construction industry."
FAQ
What sectors does South Korea's 5th Overseas Construction Promotion Master Plan target?
The plan targets small modular reactors (SMR), data centers, floating liquefied natural gas platforms (FLNG), AI-integrated cities, carbon capture utilization and storage (CCUS), and biomass energy projects. The Ministry will integrate infrastructure such as railways and airports with signaling and communication systems.
What is the Nevada lithium-boron plant project that Korea is pursuing in the US?
The Nevada lithium-boron plant construction project has secured a US Department of Energy loan commitment. The Korea Overseas Infrastructure and Urban Development Corporation (KIND) is pursuing equity investment in the project, and Hyundai Engineering is pursuing EPC (engineering, procurement, construction) participation. The Korea-US Cooperation Order Support Mission attended the MOU signing ceremony from the 5th to the 9th.
How will KIND support the overseas construction industry transformation?
KIND will establish new infrastructure funds including corporate matching funds and country-specific strategic funds. The corporation will build cooperation networks with global developers such as Macquarie and Sumitomo, as well as multilateral development banks (MDBs), to provide diversified financial support for Korean companies' overseas construction projects.
