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South Korea's overseas construction orders reach $6 billion on large projects

Staff writer |
Construction orders won by South Korean builders from overseas reached $6 billion in January on a handful of large-scale projects, a government report showed.

The overseas construction orders amounted to $6.02 billion in January, up 61 percent from a year earlier, according to the Ministry of Land, Infrastructure and Transport. It was the first time since 2010 that January orders topped the 6 billion-dollar level.

The surge was attributable to a handful of large-scale orders, including a $2.62 billion project to build a gas plant in Venezuela and a $1.65 billion power plant project in Vietnam.

Orders from the Middle East, South Korea's conventionally largest source of construction orders, stood merely at $30 million in January as oil-producing countries refrained from construction projects amid cheaper oil.

By type, orders to build industrial plants accounted for 92 percent of the total in January, followed by architecture and civil engineering taking up 4 percent and 3 percent each.

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