Large investment in Korea’s Wood Construction to Make Housing Accessible and Affordable
Space Factory, a leading Korean prefab home builder recently announced a grand investment to build a new 50,000 m2 factory to boost its productivity and manufacturing capacity. The company’s goal is to provide high-quality, energy-efficient housing to home buyers at an affordable price. According to the company’s plan, the new production line will manufacture 1,280 houses per year, potentially reducing the cost by up to 30%. The company will pour 40 million Canadian dollars into the new factory, making it one of the largest investments in the wooden construction industry in Korea.
Mr. Park, CEO said the new factory will be equipped with the latest automation machinery and technology to enable maximum manufacturing efficiency and building quality.
Shifting construction from traditional onsite into factories has been seen by the Korean building industry as an opportunity to make a sustainable reduction on its carbon footprint. In recent years, companies in Korea have gradually turned to prefabricated and modular construction to construct buildings, a change driven by the lack of skilled labour, rising material costs and environmental pressures. Government agencies like the Ministry of Land, Infrastructure and Transport have urged the industry to invest and upgrade to reposition the sector towards a greener future.