SEOUL, July 17 (AFP): Orders won overseas by South Korean constructions firms have hit a record high largely thanks to the booming Middle East, official data showed today.
As of July 13, South Korean contractors secured 17 billion dollars in overseas orders, the construction ministry said in a report released by Yonhap news agency.
The ministry predicted South Korean builders would receive up to 20 billion dollars in total orders this year compared to 16.5 billion dollars last year.
It attributed the record-high orders to the construction boom in Middle East countries, which used extra cash from high oil prices to build up their social and industrial infrastructures.
Orders from the Middle East soared 76 per cent year-on-year to 11.1 billion dollars, which accounted for 65 per cent of all orders won by South Korean firms as of July 13.
S Korea's overseas construction orders hit record high
FE Team | Published: July 18, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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