Construction orders from Asian nations nearly halve in January-September period

By Park Sae-jin Posted : October 17, 2014, 17:27 Updated : October 17, 2014, 17:27

 

Construction orders won by South Korean companies in Asia nearly halved in the first nine months of this year from the same period last year, a private think tank reported Friday.

The amount of construction orders from Asian countries reached US$10.6 billion, down 46.2 percent from $19.7 billion a year earlier, said the Korea Automotive Research Institute (KARI) affiliated with Hyundai Motor Group, based on data compiled by the International Contractors Association of Korea.

KARI officials attributed the sharp decrease to sluggishness in the Southeast and Central Asian construction market.

Orders from Asian nations were halted after a military coup d’tat occurred in Thailand in May. In addition, orders from Central Asia amounted to only $40 million in the January-September period this year, compared with $8.6 billion in 2013, the report said.
Park Sae-jin

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