S. Korea construction contracts surge in Q2

South Korea’s construction contracts saw a strong rebound in the second quarter, reaching 60.6 trillion won ($45.6 billion), a 10.7 per cent increase from the previous year. This growth was driven by both public and private sector demand.

Private construction contracts increased by 11.2 per cent to 44.4 trillion won, while public contracts rose by 9.5 per cent to 16.2 trillion won.

Civil engineering contracts surged by 29.1 per cent to 20.1 trillion won, mainly due to demand for industrial facilities.

Attribution: Xinhua

Subediting: M. S. Salama