Most Popular
-
1
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
-
2
Seoul blanketed by heaviest Nov. snow, with more expected
-
3
NewJeans to terminate contract with Ador
-
4
Seoul snowfall now third heaviest on record
-
5
Samsung shakes up management, commits to reviving chip business
-
6
Heavy snow of up to 40 cm blankets Seoul for 2nd day
-
7
Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
-
8
How $70 funeral wreaths became symbol of protest in S. Korea
-
9
NewJeans terminates contract with Ador, embarks on new journey
-
10
Why cynical, 'memeified' makeovers of kids' characters are so appealing
Overseas orders clinched by South Korean builders rose almost 10 percent this year from the previous year, but they missed the government’s target of $70 billion, a report showed Sunday.
Local builders won overseas orders worth $64.9 billion in 2012, up 9.8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. But the volume was lower than the government-set target of $70 billion, it added.
The government said that the eurozone debt crisis led local builders to face difficulties in winning new orders in the Middle East. They also had to undergo a delay in finalizing contracts.
Orders from the oil-rich Middle East topped the list with $36.9 billion, followed by those from Asia with $19.4 billion, the government said.
The government forecast that Korean construction firms would clinch between $70 billion to $75 billion in overseas orders in 2013.
“Oil prices show stable movements, and more orders for building social infrastructure will likely continue in the Middle East,” a ministry official said. (Yonhap News)
Local builders won overseas orders worth $64.9 billion in 2012, up 9.8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. But the volume was lower than the government-set target of $70 billion, it added.
The government said that the eurozone debt crisis led local builders to face difficulties in winning new orders in the Middle East. They also had to undergo a delay in finalizing contracts.
Orders from the oil-rich Middle East topped the list with $36.9 billion, followed by those from Asia with $19.4 billion, the government said.
The government forecast that Korean construction firms would clinch between $70 billion to $75 billion in overseas orders in 2013.
“Oil prices show stable movements, and more orders for building social infrastructure will likely continue in the Middle East,” a ministry official said. (Yonhap News)
-
Articles by Korea Herald
