S. Korea’s construction contracts rebound in Q2

SEOUL, Sept. 26 (Xinhua) — South Korea’s construction contracts rebounded in the second quarter on solid demand in the public and private sectors, government data showed Thursday.
Contracts for construction work amounted to 60.6 trillion won (45.6 billion U.S. dollars) during the April-June quarter, up 10.7 percent from a year earlier, according to the Ministry of Land, Infrastructure and Transport.
It turned around after retreating 7.9 percent in the January-March quarter as construction demand recovered both in the public and the private sectors.
Private construction contracts grew 11.2 percent over the year to 44.4 trillion won in the second quarter.
Public construction contracts, ordered by the central and local governments and public institutions, rose 9.5 percent to 16.2 trillion won.
By type, civil engineering contracts jumped 29.1 percent to 20.1 trillion won on strong demand for industrial facilities.
Construction contracts gained 3.4 percent to 40.5 trillion won in the cited quarter. (1 won equals 0.00075 U.S. dollars) ■