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Korean construction industry expands
01 February 2008
The country's National Statistics Office reports that double digit growth in the industry was accompanied by strong growth in the construction sector, which expanded by eight per cent.
Reports in the local media revealed a healthy technology-based industry, with audio equipment and semiconductor production helping boost industrial output, in a positive assessment of the country's economic standing.
Despite a wider economic slowdown and fears of a global downturn in demand, South Korea and much of Asia has so far proved resilient.
In the construction sector, work began this week on the largest Chinatown in the city of Gaoyang.
People's Daily Online reported how the 60,000 square metre city would be build up to five storeys high and three storeys below ground level, featuring an array of ships, theatres and eateries.
Source: Adfero
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