Korean builders' overseas orders hit 13-year low in 2019
SEOUL, Feb. 6 (Yonhap) -- Overseas orders won by South Korean construction companies hit the lowest point in 13 years in 2019 due mainly to slowing orders from the Middle East, the construction ministry said Thursday.
The combined overseas orders by the builders came to US$22.3 billion last year, down 31 percent from 2018, marking the lowest since 2006, when the combined overseas orders by the builders stood at $16.4 billion, according to the ministry.
For decades, oil-rich Middle Eastern countries have been the largest market for South Korean builders. Still, the local builders have also tried to diversify their business in Africa, Southeast Asia and Latin American markets in recent years.
The Ministry of Land, Infrastructure and Transport said South Korean builders secured a cumulative $10 billion in overseas orders this year through Wednesday, up more than eightfold from the same period of last year.
entropy@yna.co.kr
(END)
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
Hyundai Motor to invest US$5 bln in U.S. for robotics, autonomous driving development
-
(News Focus) S. Korean firms in delicate balancing act over U.S. economic framework
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(5th LD) Yoon, Biden agree to expand joint military exercises to cope with N.K. threats
-
(LEAD) Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(LEAD) Biden set to arrive in S. Korea for first summit with Yoon
-
Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
Premier League Golden Boot winner Son Heung-min receives hero's welcome home
-
(LEAD) Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
N. Korea fires ballistic missile eastward: S. Korean military