Friday, May 30th, 2014
SEOUL, KOREA - Samsung C&T, Kumho Industrial, and Kumsung Baekjoe Construction have been selected as contractors with excellent relationships with their subcontractors. The Ministry of Land, Infrastructure, and Transportation said on May 29 that it picked a total of 2,664 construction contractors who scored more than 60 points out of 100 in the 2014 construction industry peer review. This is 24.3 percent out of all 10,945 contractors in Korea.
In the large contractor category, Samsung C&T and Kumho Industrial won the first-place prize while Kumsung Baekjoe Construction was ranked No. 1 in the small contractor category. Those contractors whose evaluation score over and above 60 will get additional points between 0.5 and 3.0 in prequalifications for public biddings for the next one year, with additional points for construction ability assessments as well.
The peer review scheme has been introduced in 1998 as a way to encourage cooperation between small and large contractors and integrated and specialized builders. The evaluation is based on categories such as joint contract winning performance, subcontracting performance, degree of partner firm support, credit rating, and so on.