Potential opportunities for cross laminated timber in South Korean residential building market Yun, Dominic
Cross laminated timber (CLT) is one of the fastest growing engineered wood products in Europe. It is considered to be one of the most reliable wood building materials in the current market. It provides great strength while reducing construction time and carbon emission, which can be marketed competitively with steel and concrete as a primary building material. These advantages allow CLT to be considered the most popular timber product in multi-home complex construction as well as mid-rise commercial building constructions in Europe. Current Korean building permits and regulation system are highly favourable to steel and concrete construction. In order for CLT and other wood products to penetrate into this monopolized construction market, Korean government needs to make changes to promote sustainable building code. However, it is highly unlikely that CLT construction will be able to generate any significant revenue at this point due to lack of marketing and knowledge of the product in South Korea. This report will discuss in detail on what ways CLT products can be introduced initially in South Korea to create similar interest and demand CLT gained in Europe and North America. The public awareness on environment is growing rapidly in South Korea, and construction companies consistently look for greener marketing strategies to satisfy the interest and concern of the general public. CLT can be the ideal material to break through the heavily favoured construction material market in South Korea. Potential opportunities of CLT products are discussed extensively in this report.
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