S. Korea's construction firms awarded US$35 billion overses deals in 2020

South Korea's 359 construction firms posted 567 overseas deals from 98 nations worth $35.1 billion in 2020, up 57.3 percent the previous year to rise to the highest level in five years.

According to the Ministry of Land, Infrastructure, and Transport, the Middle East accounted for 37.9 percent of orders, trailed by Asia with 33 percent, and Latin America with 19.6 percent.

Over half of the project was for plants, while 28 percent were for public works and 14.3 percent for construction orders.

Among the biggest were Samsung Engineering Co.'s $3.6 billion deal for refinery facilities in Mexico, and Hyundai Engineering & Construction Co.'s contract for a $292 million construction project in Qatar.

Overseas deals by South Korean firms rose for three years from $28.2 billion in 2016 to $32.1 billion in 2018. However, it plunged to $22.3 billion in 2019.