Korean builders saw domestic orders hit their lowest point since 2005 last year. The Construction Association of Korea said on Tuesday that orders from within the country stood at W101.50 trillion (US$1=W1,091) in 2012, down 8.3 percent from W110.70 trillion in 2011.

They reached W90 trillion between 2004 and 2005 and increased to W128 trillion in 2007, but have since dropped off due to the slow real estate market.

Meanwhile, overseas orders amounted to US$64.9 billion last year as builders have tried to break even by expanding further into foreign markets.