Koreans optimistic about GCC construction market

Korean firms are increasingly targeting the Middle East

Companies from South Korea are increasingly looking to the Middle East as a construction machinery market, according the organisers of Big 5 PMV.

This year, 11 South Korean companies will be attending the construction industry trade show, looking to capitalise on the region’s prospects.

“Dubai is a destination hub, attracting a large number of GCC and international visitors each year. Its geographic location creates the perfect place for Asian manufacturers and suppliers to meet new business partners from the Middle East and Europe,” said Nick Webb, Director of Streamline Marketing Group, organisers of the Big 5 PMV.

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Korean manufacturers have posted positive forecasts for the region. Power Technology and Quality Co (POQUTEC) has predicted the next year could be particularly lucrative.

“We’re already active in Iran, Saudi Arabia and other parts of the Middle East, and our expected sales volume for the region in 2010 is US$4 million,” said the company’s managing director, Min Seok Song.