With geopolitical tensions in the Middle East rising after strikes on Iran by the United States and Israel, the construction industry, which has a large presence in the region, has begun drawing up countermeasures.
According to the construction industry on the 1st, major corporations are carrying out projects in the Middle East, but no damage has occurred from this incident. Hyundai Engineering & Construction, Daewoo Engineering & Construction, Hanwha's construction division, and Samsung E&A (formerly Samsung Engineering) are handling various construction projects on the ground.
Hyundai Engineering & Construction said it is working on the Jafurah utilities site and a 380 kV (kilovolt) transmission project in Saudi Arabia and a seawater treatment facility project in Iraq, but considering the distance from Iran, there is no significant impact on its business.
Daewoo Engineering & Construction, which is pursuing a new port project in Iraq, said, "We have branch offices in Qatar and the UAE, so some personnel remain, and we are refraining from outside movement while closely monitoring the situation," adding, "Leave and business trips are suspended."
Hanwha's construction division has halted the Bismayah New City construction project in the Middle East.
Samsung E&A is carrying out the Fadhili gas expansion project in Saudi Arabia and an ethylene storage facilities project in Qatar, and is watching for the possibility of an escalation in the Middle East.
The Middle East has long been a traditional stronghold for orders by Korean builders, and the region accounted for 25.1% of Korea's overseas construction orders last year—$11.81 billion out of $47.27 billion.