South Korea's overseas construction orders hit highest level in 11 years SEOUL, January 9 (AJP) - South Korea's overseas construction orders hit an 11-year high by shifting away from heavy reliance on the Middle East and diversifying into markets such as Europe, the Ministry of Land, Infrastructure and Transport said on Friday. The ministry said overseas orders totaled $47.27 billion, the highest since 2014 and the first time combined annual orders have exceeded $40 billion since 2015. In the industry's 60-year history, annual orders have exceeded $40 billion only nine times including last year. After declining in 2021, overseas orders have risen for four consecutive years, totaling $30.98 billion in 2022, $33.31 billion in 2023 and $37.11 billion in 2024. Europe drove the increase, with orders in the region reaching $20.16 billion or 42.6 percent of the total. The major deal was a nuclear power project in the Czech Republic, where Korea Hydro & Nuclear Power won a $18.7 billion order to build two 1,000-megawatt reactors in Dukovany. Orders from the Middle East fell from a year earlier but remained above $10 billion for the fourth consecutive year, accounting for 25.1 percent, followed by North America and the Pacific region at $6.8 billion or 14.3 percent. By country, the Czech Republic led with $18.7 billion in orders, followed by the United States ($5.8 billion) and Iraq ($3.5 billion). By type of work, industrial facilities accounted for $35.3 billion or 74.6 percent of the total, but the ministry said high value-added projects related to energy infrastructure such as nuclear, solar and combined-cycle power generation helped support overall growth. 2026-01-09 13:43:39

Energy projects drive Hyundai E&C to record-breaking orders in 2025 SEOUL, January 08 (AJP) - Hyundai Engineering & Construction said on Thursday it secured 25.5 trillion won ($17.6 billion) in new orders last year, up 39 percent from 2024 and the highest annual total in the company’s history. Hyundai E&C said it was the first South Korean builder to surpass 25 trillion won in annual orders, attributing the performance to a strategic shift beyond traditional construction into energy-transition projects. At a “CEO Investor Day” in March last year, Hyundai Engineering & Construction set out a vision to become an “energy transition leader” and set a target of at least 25 trillion won in annual orders by 2030 — a goal it reached in less than a year. Energy-related projects accounted for much of the growth, the company said. Major wins included a basic design contract for four large nuclear reactors with Fermi America, an early works agreement for a new nuclear plant in Finland, a solar power project in Texas and the Sinan Ui offshore wind project. The company said it expanded its order base by securing low-carbon and energy-transition projects in advanced markets such as the United States and Europe. The company also said it broadened its value chain beyond power generation into transmission and consumption, citing a Saudi Arabia transmission line project and data center contracts in the Seoul metropolitan area. Technical capability and long-standing trust also supported orders, the company said, pointing to an Iraq seawater supply facilities project backed by more than four decades of experience in state-led infrastructure projects. "We plan to build on the momentum this year by focusing on established energy businesses such as nuclear power and renewables, while increasing the share of overseas orders," a Hyundai E&C spokesman said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 10:27:21

South Korea's Samsung C&T teams up with Polish firm on small modular reactors SEOUL, December 15 (AJP) - Samsung C&T’s construction division said on Monday it has signed a partnership agreement with Poland’s Synthos Green Energy to jointly develop small modular reactor (SMR) projects in central and eastern Europe. The agreement provides for cooperation on SMR development in Europe, including feasibility studies, site selection and environmental impact assessments, starting with projects in Poland. The signing ceremony was attended by Michał Sołowow, president of Synthos Green Energy, and Oh Se-chul, chief executive of Samsung C&T’s construction division. Synthos Green Energy plans to deploy GE Hitachi’s BWRX-300 technology, with a goal of building up to 24 SMRs by the early 2030s and expanding deployment across central and eastern Europe. Under the partnership, Samsung C&T will leverage its global nuclear construction experience to support the Polish SMR program, while exploring opportunities to extend the collaboration to other European markets. The BWRX-300 is a 300-megawatt small modular reactor design that is currently under construction in Ontario, Canada, and has been selected by Sweden’s utility Vattenfall for the Ringhals nuclear power project. “This collaboration with Synthos Green Energy marks a milestone in our entry into the Polish and broader European SMR markets,” Oh said in a statement. Rafał Kasprów, president of Synthos Green Energy, said the partnership would strengthen the competitiveness of Poland’s SMR initiative and contribute to providing sustainable energy solutions across Europe. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-15 14:13:22

Ssangyong E&C secures hospital construction project in Singapore SEOUL, December 09 (AJP) - South Korea's Ssangyong Engineering & Construction has secured a major hospital construction contract from Singapore’s Ministry of Health. The company said on Tuesday it won a contract worth $580 million to build the outpatient building at Alexandria Hospital, as part of a joint venture in which it holds a 40 percent stake alongside Japan’s Shimizu and Singapore’s Kimly. The project includes a three-level basement and a 12-story superstructure housing outpatient clinics and office space, as well as a four-story parking facility. The contract was awarded following a competitive bidding process that included Chinese construction firms, the company said. A Ssangyong spokesperson said the award reflected confidence in the company’s hospital construction capabilities, citing its successful delivery of the Woodlands Health Campus project despite disruptions caused by the COVID-19 pandemic. “Our performance on the Woodlands Health Campus demonstrated our ability to execute complex healthcare projects to a high standard, which earned strong client trust and led directly to this latest contract,” the official said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-09 10:18:57

NTS to crack down on tax evaders in real estate inheritances SEOUL, December 4 (AJP) - The National Tax Service plans to intensify its probe of real estate transferred from wealthy parents to children to evade inheritance and other taxes, the watchdog said in a meeting at the government complex in Seoul on Thursday. The probe is expected to target some 2,077 apartment owners in Seoul's affluent districts of Gangnam, Gangdong, Seocho and Songpa as well as Mapo and Seongdong districts north of the Han River, where prices have soared in recent years. The NTS will investigate them for any illegal activities or suspicious transactions. "We are committed to eradicating illegal inheritance and gifts to protect those who want to buy their own affordable home," said Kim Yong-su, an NTS official. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-04 16:55:52