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South Korean builders nervous about possible setbacks in Middle East

South Korean builders remain alert against geopolitical risks rising across the Middle East that could throw cold water over their expectations to take a ride on the region’s construction boom.  Instability in the Middle East, a key market for Korean construction companies overseas, has been sparking concerns over possible setbacks in infrastructure and maintenance projects undertaken by the builders.

The uncertainties surrounding the area heightened as Korean builders were trying to capitalize on the recent construction boom in the Middle East.

Korean construction firms clinched $2.4 billion in orders from Middle Eastern countries in the first quarter of this year, accounting for 44 percent of the total project value they won from abroad in the period, according to recent data from the International Contractors Association of Korea.

Read the full story at Asia News Network

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