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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

Korean builders’ overseas contracts drop to 9-year low

  • PUBLISHED :December 15, 2016 - 16:49
  • UPDATED :December 15, 2016 - 16:49
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[THE INVESTOR] South Korean construction companies’ overseas contracts is expected to fall to a nine-year low, industry data showed on Dec. 15.

According to the International Contractors’ Association of Korea data, local builders won 534 overseas contracts with a combined value of about US$24.1 billion so far this year. 




The figure is 45 percent lower than US$44.1 billion recorded last year, and the lowest seen since 2007 when the value of overseas contracts came to US$39.8 billion.

The drop in overseas contracts is attributed to a fall in contracts from the Middle East, brought on by low oil prices.

By Choi He-suk (cheesuk@heraldcorp.com)

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