It gives me great pleasure to introduce the International Contractors Association of Korea (ICAK), along with our distinguished member companies.
The ICAK was established in 1976 as the nation's only promotion agency for the overseas construction industry. The main function of the ICAK is to facilitate Korean contractors' overseas business and to develop the industry as a whole.
Korean contractors are rightly proud of their construction experience abroad. Throughout the decades starting from the 1960's, our member comp-anies have applied advanced construction techniques across the globe. They have worked side by side with some of the world's leading contractors, participated in a wide variety of public and private sector projects and established a reputation for quality and cost - effectiveness in the process.
However, a number of challenges still lie ahead. To meet these challenges, Korean contractors are demonstrating their dedication by developing new technologies, opening up new markets, and strengthening their financing capabilities to name just a few. They are ready to compete in the more fluid markets of the next decade and to take full advantage of the opportunities that globalization will bring.
We expect a new era in global construction in which Korean companies will demonstrate their rapid progress through world-class quality. Korean companies, with competency, will endeavor to make your country even more prosperous.
Korean contractors will continue to grow as members of the international construction community, helping to shape the constantly changing face of the world.