The amount of orders won by South Korean building contractors slumped to its lowest level in more than three years in February.

According to the Construction Association of Korea on Tuesday, local builders won orders worth around eight-point-six trillion won in total in February, marking an on-year decline of nine-point-six percent. 

It was the lowest value since they recorded around seven-point-nine trillion won in January of 2016 and also marked the lowest level in four years for the month of February. 

Orders received from the public sector dwindled by eight-point-four percent from a year earlier to two-point-83 trillion won while the bids won from the private sector declined ten-point-one percent to five-point-77 trillion won.