Accumulated overseas construction orders top $1 trillion in 59 years

Accumulated orders for overseas construction by domestic companies exceeded $1 trillion.

The Ministry of Land, Infrastructure and Transport said that as of last month, the cumulative overseas construction orders exceeded USD 1 trillion and KRW 1,468 trillion.

Last year's annual overseas construction orders did not exceed the government's target of $40 billion, but it was the highest level in nine years since 2015.

The $1 trillion in overseas construction orders is the first in 59 years since Hyundai Engineering & Construction won an overseas order on the Tapani-Naratiwat Expressway in Thailand in November 1965.

Korea's overseas construction orders reached $71.6 billion in 2010, during the booming period, but have since gradually declined to $22.3 billion in 2019.

Since then, it has rebounded again, exceeding $30 billion one after another from 2021, increasing for the third consecutive year.