The cumulative overseas construction orders received by domestic companies have surpassed $1 trillion. The Ministry of Land, Infrastructure, and Transport announced that as of last month, the cumulative overseas construction orders exceeded $1 trillion, equivalent to 1,468 trillion Korean won. Although last year’s annual overseas construction order amount did not surpass the government’s target of $40 billion, it was the highest level in nine years since 2015. The $1 trillion overseas construction order milestone marks the first time in 59 years, since Hyundai Engineering & Construction’s overseas order for the Taphani-Narathiwat highway in Thailand in November 1965. In the booming year of 2010, South Korea’s overseas construction orders reached $71.6 billion, but then gradually decreased to $22.3 billion in 2019. Since bouncing back, the figures have exceeded $30 billion annually from 2021, marking three consecutive years of growth.
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