SEOUL, KOREA - The domestic construction order volume in the month of February has increased from the same month last year, largely due to an increase in public sector orders. The Construction Association of Korea said on April 7 that the February order booking amount was 6,994.6 billion won, up 24.7 percent from last year's 5,609.9 billion won.

 

The construction order booking amount within Korea has been on an increasing trend for three consecutive months since December last year. As for the public-sector segment, the figure rose 68.2 percent to 3,405.7 billion won from 2,024.6 billion won a year ago. That's because of large-scale public works projects such as the sewage treatment facilities for Songsan Green City (Hwaseong, Gyeonggi Province) and the Jeongeup-Shin Taein road construction order.

 

Other public-sector construction projects such as that related to the 2015 Summer Universiade to be held in Gwangju and apartment construction orders won by the Korea Land & Housing Corp.

 

As for private-sector construction orders, the February figure of 3,588.9 billion won stopped short of increasing 0.1 percent from the same month a year ago. The private-sector construction segment suffered a setback of 0.4 percent to 3,172.7 billion won. As for the private-sector public works area, the order volume rose 4.1 percent to 416.3 billion won, due to an increase in orders for residential renovation and community improvement projects.