SEOUL, Jan. 15 (Xinhua) -- South Korea will bolster its support for domestic construction companies to secure overseas orders worth at least 70 billion U.S. dollars by the end of 2012, which could potentially put the country among the top ten largest constructors in the world, the government said Friday.

    In order to reach that goal, which would be 5 percent of the net global construction market, the Ministry of Land, Transport and Maritime Affairs will form an infrastructure fund worth 2 trillion won (1.78 billion U.S. dollars) to support local builders and utilize its diplomatic channels to increase dialogue with countries that are seen as having high business potential, particularly those in the Middle East and Africa regions, according to the ministry.

    The ministry will also form a consultation committee to provide expertise for companies establishing businesses overseas, and initiate a training program to nurture future experts in the field, it said in a statement.

    South Korea's construction business ranks as the 13th largest in the world as of 2008, with a combined market share of 2.9 percent, as its overseas orders have jumped from a mere 3.7 billion U.S. dollars in 2003 to 10.9 billion U.S. dollars in 2005,before shooting up to 39.8 billion and 47.6 billion U.S. dollars in 2007 and 2008, respectively, the ministry said.

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