U.S. Becomes South Korean Builders’ Top Overseas Market
The center of gravity for the overseas business of domestic construction companies is shifting to the United States. The proportion of the U.S. in this year’s overseas construction order value has exceeded half. Companies are expanding their business areas into the energy sector, such as nuclear pow
The United States has emerged as the top overseas market for South Korean construction companies, with their overseas construction orders more than doubling to $7.38 billion in the first half of the year. This shift in business focus is driven by strategic investments of $200 billion between South Korea and the U.S., particularly in the energy sector, including nuclear power plants, small modular reactors (SMRs), and solar power.
South Korean construction firms are leveraging their manufacturing facility experience, such as in semiconductors and batteries, as a foundation for these new ventures. While the Middle East remains a significant market, its orders have decreased by 70.2% compared to last year. Major players like Samsung Heavy Industries, Samsung C&T, and Hyundai E&C are expanding into nuclear power, SMRs, and solar power, supported by their existing manufacturing facility experience in the U.S. However, the impact of large-scale projects, like the $18.7 billion Czech nuclear power plant and Samsung Heavy Industries' Delfin FLNG project, can significantly influence overall order statistics.
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