Modular construction refers to a method where standardized components are manufactured in a factory and then assembled on-site. By pre-fabricating 70–80% of a home or building and transporting the box-type structures to the site, buildings can be erected quickly even in confined spaces, much like assembling Lego blocks. It is a high-growth industry with a global market value of approximately 200 trillion KRW.

PLANM began making a name for itself with its eco-friendly school modular systems. As aging school facilities and overcrowded classrooms in new cities became a national issue, the Ministry of Education announced a five-year plan for school facility improvement at the end of 2023. While traditional construction was difficult while students were still in school, modular construction emerged as the ideal alternative.

“Traditional school construction takes about five years just for the administrative procedures,” Lee said. “Even remodeling or rebuilding takes two to three years, raising the issue of where to relocate students in the meantime.” He added, “Modular units can be installed in a short period between existing buildings and can be moved once the overcrowding issue is resolved, which has led to a very positive response.” PLANM’s market share in the school modular sector is estimated at approximately 36%.

Unlike most modular firms that use precast concrete, PLANM utilizes steel-based modules. The buildings are constructed by stacking 20-ton modular units with cranes to create a steel-frame structure.

“Steel modules can be recycled for over 40 years, and once their service life ends, they can be melted down in electric furnaces for reuse, making them highly eco-friendly,” Lee emphasized. “Another major advantage is that, unlike concrete, they emit zero radon or formaldehyde, allowing classes to resume immediately after installation.”

Steel modules also offer superior insulation and are excellent at resisting earthquakes and blocking inter-floor noise, making them well-suited for residential buildings. While the construction cost per pyeong (approx. 3.3㎡) is 15–20% higher, the faster construction time reduces labor costs and significantly minimizes on-site accidents.

“We have secured structural stability capable of withstanding a magnitude 7 earthquake, and there is virtually no noise between walls or floors,” Lee said. “We plan to break ground on military officer quarters in March or April next year. With interest from LH and SH Corporation, our methods will also be applied to public rental housing.”

PLANM plans to expand aggressively into overseas markets, including the U.S. It is currently designing the 800 billion KRW L7 Indiana Hotel by Lotte and plans to participate in future L7 expansions. Lee hinted at upcoming successes in Australia and Canada as well.

The ultimate goal for PLANM is to increase supply by lowering the unit price per pyeong to enhance competitiveness. “We will expand our business by leveraging modular advantages, such as creating modular accommodations on Ganghwa Island,” Lee said. “Since our goal from the start was global expansion into the U.S., Australia, Canada, Saudi Arabia, and the UAE, we will be very active in these markets. Achieving 1 trillion KRW in annual revenue within three years is well within reach.”

Source: Edaily