"Lockdown Lifted"... Overseas Construction Contract Amount Increased by 72% Last Year

Statistics Korea's '2020 Construction Industry Survey Results' on the 8th

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Last year, overseas construction contract amounts turned to an increase for the first time in 8 years, rising by 72% compared to the previous year.

According to the '2020 Construction Industry Survey Results' announced by Statistics Korea on the 8th, overseas contract amounts reached 29 trillion won, an increase of 12 trillion won from the previous year. Domestic contract amounts were 258 trillion won, increasing by 19 trillion won during the same period.

Statistics Korea analyzed that "In the second half of last year, the rise in oil prices and fiscal expansion policies in various countries overseas significantly increased overseas contract amounts." After increasing by 67.9 trillion won in 2013, overseas contracts decreased for seven consecutive years until 2019, then turned to an increase last year.

The sales revenue of the top 100 construction companies was 82 trillion won, a 5.0% decrease from the previous year, accounting for 28.3% of total sales revenue.

Domestic construction amounts of the top 100 companies were 60 trillion won, a 0.5% increase compared to the previous year, whereas overseas construction amounts of the top 100 companies were 21 trillion won, a 17.7% decrease compared to the previous year.

Meanwhile, the number of construction companies was 82,567, a 4.7% increase from the previous year. This increase has continued steadily since 2013. By region, the Seoul Capital Area increased by 4.6%, and regions outside the Seoul Capital Area increased by 4.8% compared to the previous year.

This content was produced with the assistance of AI translation services.