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S. Korea's construction orders rise 9.2 pct in 2022

SEOUL
2023-08-29 15:59

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SEOUL, Aug. 29 (Xinhua) -- Construction orders won by South Korean builders rose for the fourth consecutive year in 2022 due to solid demand both at home and abroad, statistical office data showed Tuesday.

Domestic builders secured construction orders worth 343.8 trillion won (260 billion U.S. dollars) in 2022, up 9.2 percent from the previous year, according to Statistics Korea.

Construction orders at home increased 9.8 percent to 306.6 trillion won (231.8 billion dollars) last year while overseas orders gained 4.4 percent to 37.2 trillion won (28.1 billion dollars).

The value of completed construction stood at 344.4 trillion won (260.1 billion dollars) in 2022, up 12.0 percent from a year earlier.

Locally completed construction expanded 10.9 percent, while completed construction outside South Korea advanced 22.7 percent to 32.6 trillion won (24.7 billion dollars).

The number of local builders added 2.0 percent over the year to 87,239 in 2022.
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