Acting President Han: "We Will Actively Support Overseas Construction as a New Breakthrough for Our Economy"

Congratulatory Speech at the Ceremony Celebrating $1 Trillion in Overseas Contracts and the 60th Anniversary of Global Expansion

Handuksoo Acting Prime Minister, Encouragement Speech on the 60th Anniversary of Overseas Construction Contracts Yonhap News

On April 29, Acting President and Prime Minister Han Ducksoo stated, "We will spare no effort in providing active support so that overseas construction can become a new breakthrough for our economy."

At the ceremony held at the Construction Hall in Gangnam, Seoul, to commemorate the achievement of $1 trillion in overseas construction contracts and the 60th anniversary of overseas expansion, Han delivered an encouragement speech, saying, "We will expand investment and development-type projects to pioneer new markets, so that overseas construction can achieve not only quantitative growth but also qualitative growth centered on high added value."

Han mentioned, "Currently, the domestic and international construction industries are facing significant challenges," and expressed concern that "the conditions in the overseas construction market are tough, the real estate market is in a slump, the project financing (PF) market is contracting, and construction costs are rising, all of which are causing the domestic construction industry to remain sluggish."

However, Han promised, "We have the resilience to turn crises into opportunities," and added, "We will further strengthen the comprehensive support system centered on 'Team Korea,' a public-private joint overseas project support group."

He also encouraged, "When I first entered public service in 1970, Korea's total exports amounted to only $800 million," and added, "At that time, $1 trillion was an unimaginable figure. It is you, the people in the construction industry, who have accomplished this tremendous feat."

He went on to say to those in the construction industry, "You are the ones who have created the miracle of Korea's history," and added, "I sincerely wish for the limitless development of Korea's construction industry and for the continued success of all of you."