South Korean construction orders exceed ₹83 Lakh crore, milestone achieved after 59 Years

Seoul (The Uttam Hindu): South Korean builders have surpassed $1 trillion in accumulated overseas construction deals a major milestone achieved 59 years after Hyundai Engineering & Construction Co. secured its first international project in Thailand. As of November South Korean companies secured $32.69 billion in overseas orders bringing the total to $996.5 billion. The Ministry of Land Infrastructure and Transport confirmed that the total exceeded $1 trillion by December. Nearly half of these orders in 2024 came from Saudi Arabia and while the country fell short of its $40 billion target the total value of overseas construction deals reached the highest level since 2015 with $46.1 billion in orders. The Middle East also saw substantial growth for South Korean companies with nearly $10 billion in orders this year a sharp rise from 2023.

Data shows a remarkable increase in project orders from the region with figures rising from $1.5 billion in 2023 to $9.98 billion in the first five months of the year. This growth was largely driven by significant contracts, including a $7.3 billion project secured by Samsung E&A Co. and GS Engineering & Construction Co. in Saudi Arabia. As a result the total overseas orders from January to May reached $13.64 billion the highest for the period since 2020. In Indian Rupees the accumulated value of overseas construction deals exceeds ₹83,20,000 crore with a substantial contribution from the Middle East. This achievement underscores South Korea's growing influence in global construction reflecting its expanding role in major international projects.