SEOUL, Aug. 22 (Xinhua) -- South Korea's construction contracts rebounded last year due to solid demand both at home and abroad, statistical office data showed Friday.
Contracts for construction work grew 3.4 percent over the year to 307 trillion won (219.7 billion U.S. dollars) in 2024 after dropping 12.1 percent in the previous year, according to Statistics Korea.
Domestic contracts gained 3.4 percent to 266 trillion won (190.4 billion dollars), while overseas contracts increased 2.9 percent on strong demand from the Middle East and Asia.
In the local market, construction contracts in the private sector added 1.4 percent and public construction contracts rose 8.0 percent.
Completed construction work swelled 1.4 percent to 364 trillion won (260.5 billion dollars) in 2024, compared to the previous year after expanding 4.7 percent in 2023.
The number of construction companies stood at 89,094 in 2024, up 1.4 percent from a year earlier. ■
