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Construction contracts awarded to South Korean companies in the Middle East fell 88 percent month-on-month in March due to the Middle East conflict, according to a news report.
The total value of these contracts stood at $29.97 million, The Korea Times reported, quoting data from the International Contractors Association of Korea.
The Middle East’s share of total overseas orders declined by 3.7 percent from 56.1 percent during the same period, the report said.
The overall volume of overseas construction orders for Korean construction contracts in March fell 78.9 percent year-on-year to $810 million.
Korean construction firms have not received any orders from the Middle East this month (April), the newspaper reported, quoting an unnamed industry official.
The Korean government is targeting securing $50 billion in construction contracts in 2026, the report said.
Korea’s offshore construction orders had reached $47.27 billion in 2025, Yonhap news agency reported, citing the Ministry of Land, Infrastructure and Transport. This is the highest level since 2014, when orders totalled $66 billion. Orders from the Middle East declined 35.8 percent year-on-year to $11.8 billion last year, the report said.
(Writing by P Deol; Editing by Anoop Menon)
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