Korean overseas orders record

Korea: Korean contractors won overseas orders worth US$ 10.5 billion in the first seven months of 2006, up +68% from a year ago, according to the Ministry of Construction and Transportation.

Orders from the Middle East soared +43% from a year ago to US$ 6.27 billion. Asia came next with US$ 2.33 billion (+124%), followed by Africa with US$ 1.14 billion, (+113%). Orders from other regions stood at US$ 718 million (+156%).

Industrial construction rose +35% to US$ 7.19 billion, while civil engineering rose +198% to US$ 1.1 billion. New building projects nearly quadrupled to US$ 1.8 billion in the seven months from January to July.

According to the Ministry overseas construction orders broke the US$ 10 billion mark in the shortest period in Korea's history, including the boom years of the early 1980s and mid-1990s. The previous record was achieved in 1982.