Faced with a slowdown in South Korea’s domestic construction market, Korea Expressway Corp. is looking overseas to fuel its future growth. In a conversation with The Korea Herald, CEO Ham Jin-gyu outlined how the state-run organization is expanding into international markets to meet the growing demand for road infrastructure expertise, from construction to long-term operation and maintenance.
“For us, overseas business is not just an option -- it’s a necessity,” Ham said. “The construction market in South Korea is shrinking, but many countries around the world need modern infrastructure and advanced road management systems. This is where KEC can make a real difference.”
KEC, which oversees more than 5,000 kilometers of highways in South Korea, is leveraging its decades of experience to secure large-scale projects in countries like Turkey, Kazakhstan and Bangladesh. But it’s not just about building roads. The company’s expertise in maintaining and operating highways is attracting attention from both developing and developed nations, where keeping road networks in top shape is just as important as building them.
Big wins in Turkey and Central Asia
KEC’s success abroad is already evident in several flagship projects. One of the largest is the Nakkas-Basaksehir section of the Northern Marmara Highway in Turkey. This project, valued at 2.1 trillion won ($1.5 billion), is a key achievement for KEC. The company is not only investing in the construction, but will also manage and maintain the highway for 15 years after it’s built.
“This is a huge step for us,” Ham said. “We’re showing that we can deliver a full package -- investment, construction and long-term operation. That’s a model we want to replicate in other markets.”
Another milestone is the Big Almaty Ring Road in Kazakhstan. Opened in 2023, the 66-kilometer highway is part of a public-private partnership where KEC is responsible for O&M until 2039, a deal worth 161.2 billion won.
Closer to South Asia, KEC has also been involved in high-profile projects in Bangladesh, including the Padma Multipurpose Bridge and the N8 Highway. These projects, which span 20 kilometers and 55 kilometers, respectively, are vital transportation links for the country and are being maintained by KEC under five-year agreements.
“These aren’t just business deals -- they’re opportunities to share South Korea’s expertise with countries that are still developing their infrastructure,” Ham explained. “At the same time, they’re opening doors for other Korean companies, especially those with cutting-edge intelligent transportation systems, to enter new markets.”
Building partnerships, breaking barriers
Ham sees his role as CEO as more than just signing contracts. He has personally traveled to project sites and held high-level meetings to open doors for KEC. “To succeed globally, we need strong partnerships,” he said. “I’ve met with officials from countries like Ukraine, Ghana and Mauritius to discuss future projects. We’ve also built relationships with Korean organizations like the Export-Import Bank of Korea to support these efforts.”
One of the more exciting developments for Ham was introducing KEC’s advanced intelligent transportation systems technology to officials in the United States earlier this year. “The reception was great. Developed countries are looking for smarter ways to manage traffic and maintain infrastructure, and this is an area where KEC excels. We’re no longer just focusing on developing countries; we’re also ready to work with advanced economies,” he said.
Ham also ensures that employees on the ground are supported. In May, he visited KEC staff working on projects in Bangladesh to hear their concerns and encourage them. In August, he held a companywide video call with employees stationed overseas to discuss strategies for reaching KEC’s ambitious goals.
The road ahead: 1 trillion won by 2025
KEC has set its sights on an ambitious target: 1 trillion won in cumulative overseas orders by 2025. Achieving this would cement its position as a global player in road infrastructure. The company also aims to manage over 1,000 kilometers of roads internationally and generate 150 billion won in annual overseas revenue.
KEC’s growth overseas has been impressive. In 2019, the company’s overseas orders stood at 93.5 billion won, but by 2023, that number had soared to 375.6 billion won -- a fourfold increase in just four years.
The key to this growth? Adapting to the needs of different countries, fostering global talent, and building trust through successful project delivery. “We want to show that KEC is a reliable partner,” Ham said. “Whether it’s building a highway in Turkey or maintaining roads in Bangladesh, we’re committed to doing it right.”
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