Magazine

Construction and architecture are old industries, but they are changing fast. Buildings account for roughly 40% of global greenhouse gas emissions, aging buildings are increasingly vulnerable to extreme weather, and jobsites face chronic labor shortages. These three pressures do not arrive separately. They are intertwined as part of the same shift.

At the center of that shift, young companies are emerging with new tools to solve long-standing industry problems. And giving these promising startups a place to gather are major companies willing to provide them with a stage — programs such as the Hoban Innovation Technology Competition, held annually by Hoban Construction.

It Does Not End with Choosing the Winners

Now in its seventh year, the Hoban Innovation Technology Competition was created to discover promising startups and promote collaboration with established companies. What makes the program distinctive is that it does not end with prize money and an awards ceremony. Selected companies are given access to real jobsites operated by Hoban Group affiliates as testbeds, work with the group on proof-of-concept (PoC) projects, and can move on to direct investment from Plan H Ventures, the group's corporate venture capital (CVC) arm. Discovery, demonstration, investment, and joint commercialization remain connected within a single group.

What startups often need most is not more technology, but a real place to test the technology they already have. Jobsites run by major contractors are particularly difficult for young companies to access. Hoban opens that door. In 2025, 118 companies applied and 14 were selected — the highest number of applications in the program's history.

When a Major Company Becomes a Discerning Curator

Think of a good exhibition. Great artists alone are not enough. Someone needs the eye to recognize them and bring them together. If startups solving construction's problems are the artists, Hoban Construction plays the role of curator, putting them on the stage. One particularly notable move is Hoban's decision to form a joint fund with the venture investment arm of competitor GS E&C. It signals a shift beyond individual companies simply acquiring useful technologies, toward competitors working together to grow the construction startup ecosystem itself. Buying technology and cultivating technology are two different things. Against Hoban Construction's broader corporate culture — including more than KRW 7 billion in annual social contribution spending and five consecutive years of an integrated A grade in environmental, social, and governance (ESG) ratings — this kind of collaboration feels like a natural extension.

The message behind the competition is clear: construction still has plenty of problems left to solve, and the partners willing to solve them are already here. This year's startups will take the stage at the awards ceremony held during KOREA BUILD in August 2026.