The Fadhili gas plant in Saudi Arabia (Image courtesy of Yonhap)
SEOUL, Jan. 3 (Korea Bizwire) — South Korean builders have achieved more than US$1 trillion in accumulated overseas construction deals, the transport ministry said Friday.
The achievement comes 59 years after Hyundai Engineering & Construction Co. obtained its first overseas deal to build an expressway in Thailand in November 1965.
Local builders secured $32.69 billion worth of overseas orders in the January-November period, the International Contractors Association of Korea said earlier, bringing the accumulated total to $996.5 billion as of end-November.
The figure for December has yet to be released, but the Ministry of Land, Infrastructure and Transport said the country’s accumulative overseas orders breached the $1 trillion mark during the month.
Nearly half of the orders in 2024 were from Saudi Arabia, according to the ministry.
The country has failed to meet its annual target of $40 billion in 2024, but its annual total reached the highest since 2015, when its overseas construction deals amounted to $46.1 billion, the ministry noted.
(Yonhap)
