Amid growing expectations that the construction industry will win Middle East reconstruction projects following the US-Iran agreement, the Overseas Construction Association launched a meeting of a public-private consultative body to expand its presence in the Middle East.
The ICAK announced that it held the 1st Meeting of the Public-Private Consultative Body for Strengthening Middle East Infrastructure Cooperation i on June 23.
The meeting was organized to discuss ways to expand Korean companies’ presence in the Middle East and strengthen cooperation in the infrastructure sector including post-war construction and infrastructure, with the participation of officials from the Ministry of Land, Infrastructure and Transport, Korea Overseas Infrastructure & Urban Development Corporation (KIND) and major Korean builders doing business in the Middle East.
On June 23, the International Contractors Association of Korea (ICAK) holds a meeting of the public-private consultative body to strengthen infrastructure cooperation in the Middle East. (Photos: ICAK)
In particular, they identified new opportunities for infrastructure cooperation, such as demand for strengthening energy and logistics security in the post-war Middle East, and ways to expand the foundation for Korean companies to enter the Middle East infrastructure market.
The participants shared market trends and corporate suggestions for major countries through the public-private consultative body.
They agreed to strengthen joint entry strategies linked with investment institutions such as KIND in accordance with the recent trend of large-scale infrastructure projects in the Middle East shifting to investment development projects.
“Taking the formation of the public-private consultative body for Middle East infrastructure cooperation as an opportunity, the ICAK will boost the competitiveness of the Korean construction industry in the Middle East market through strategic cooperation involving both the public and private sectors,” an ICAK official said.
Briefing on 2028 New Land and Transportation ODA Projects
The ICAK announced on April 30 that it held the 2028 New Land and Transportation Official Development Assistance (ODA) Project Proposals Briefing and Performance Sharing Seminar on April 29.
One hundred sixty-seven people from 97 organizations, including public institutions, research institutes, and private companies, attended the briefing.
This event was organized to provide guidance on the procedures and proposal writing directions ahead of a recruitment of participants in new land and transportation ODA projects in 2026 which will run from May 4 to September 4, and to share policy directions for land and transport ODA projects and the details of excellent cases.
Since being designated as a dedicated agency for land and transportation ODA projects in 2021, the ICAK has continuously strengthened its expertise and implementation system for land and transportation ODA projects by supporting the entire project process, including project discovery, planning, procurement, project management, and performance feedback.
Since 2013, land and transportation ODA projects worth approximately 229.5 billion won were carried out across 32 countries, consistently supporting the development of transportation, cities, and infrastructure in developing countries.
Recently, through the Fourth Basic Comprehensive Plan for International Development Cooperation, the Korean government has strengthened performance management for projects in recipient countries and presented a national interest-centered ODA policy based on strategic cooperation and mutual benefits.
In line with this policy direction, land and transportation ODA projects are also expanding their roles as a strategic means of cooperation and simultaneously supporting the sustainable growth of recipient countries and expands the foundation for Korean companies to make a foray overseas.
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