1H Domestic Construction Orders Fall 29% from a Year ago

SEOUL, KOREA- The first-half domestic construction order volume was below the 40-trillion-won level, down almost 30 percent from the same period last year. The Construction Association of Korea said on August 6 that the amount of combined orders booked during the six-month period from January and June was 39,151.4 billion won, 28.6 percent lower than a year ago.

In June alone, the order booking volume was 8,828.4 billion, down 32.8 percent from the same month in 2012, continuing a downward trend for 11 consecutive months.

By segment, private-sector civil engineering works and architecture saw the largest drop, with a decline of 61 percent to 4,474.7 billion and 30 percent to 19,655.7 billion won, respectively.

Kang Kyung-wan, senior manager in charge of industry statistics with the Construction Association of Korea, said, "The fact that a half-year construction order amount fell 30 percent and monthly order volume continues falling for 11 months is highly unusual. Given the concomitant decline in construction industry indicators including the coincidence index and leading index, we may see the industry downturn keep going for a few more years."

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