AD
Local builders secured construction orders worth 267 trillion won (241 billion U.S. dollars) in 2017, down 2.5 percent from the previous year, according to Statistics Korea. It marked the second consecutive year of decline.
Orders won by local companies from overseas amounted to 26 trillion won (23.4 billion U.S. dollars) last year, down 16 percent from a year earlier. Overseas construction orders kept falling for five years from 2013.
Orders from Asia tumbled 38.2 percent, with those from Africa plunging 60.3 percent. Orders from the Middle East advanced 32.5 percent.
Domestic construction orders edged down 0.7 percent over the year to 241 trillion won (217 billion U.S. dollars) in 2017 as the government announced measures to control speculative investment in the real estate market.
