Wednesday, July 31st, 2013
With the latest addition in its order book, Samsung C&T saw its overseas order balance for the year jump to $10.8 billion. This is more than double that of Hyundai Engineering & Construction ($4.68 billion), the No. 2 contractor in Korea. This is the first time in Korea's history for a construction contractor to surpass its overseas order booking over $10 billion, except in two occasions, including KEPCO in 2010 ($18.6 billion) and Hyundai E&C ($10.5 billion). But the former case was due to one-time $20-billion award by the United Arab Emirates.
By 2009, Samsung C&T had an overseas order booking of only $300 million. Since the inauguration of Jung Yeonjoo in 2010, however, the company has been aggressive in going overseas, increasing its order amount by more than 30-folds in three years.