Published : 2014-06-02 19:46
Updated : 2014-06-02 19:46
Overseas construction orders secured by South Korean builders stood at US$31.6 billion in the first five months of this year, up 35 percent compared to 2013, local industry data showed Monday.
The International Contractors Association of Korea (ICAK) said the total is the highest reached for the period since 2010 when the $18.6 billion order for the United Arab Emirate's nuclear reactor project was tallied.
By region, orders from the Middle East accounted for 78 percent of the total, or $24.6 billion, with Asia accounting for $4.9 billion, or 16 percent. Orders from Asia actually contracted from $10.1 billion reached at the end of May last year.
In regards to Latin America, orders secured by South Korean builders reached $1.2 billion.
ICAK said that judging by orders secured so far, it may not be too difficult for builders to secure $70 billion worth of orders for the whole of this year. It said local companies are expected to do well in places such as Central Asia, Indonesia and Singapore in the coming months.