The value of overseas orders won by domestic builders this year has exceeded USD 30 billion for the fifth consecutive year. Shown is a refinery construction project in Karbala, Iraq. (International Contractors Association of Korea)

By Koh Hyunjeong

Domestic construction companies have received project orders abroad worth over USD 30 billion for the fifth consecutive year.

The International Contractors Association of Korea on Dec. 10 said such orders received from January to November this year reached USD 32.69 billion in value.

The five-year streak of USD 30 billion in orders abroad began in 2020.

The figure plummeted from USD 71.6 billion in 2010 to 22.3 billion in 2019 due to a trade dispute between the U.S. and China and lower demand from the Middle East. But the figure rebounded to 35.1 billion in 2020, 30.6 billion in 2021, 31 billion in 2022 and 33.3 billion in 2023.

The effects of the recent martial law incident, however, has clouded prospects of whether the government can reach its annual goal of USD 40 billion in such orders set early this year.

hjkoh@korea.kr