SEOUL, Oct. 30 (Korea Bizwire) — South Korea’s top conglomerate Samsung Group said Wednesday it will join a massive entertainment city development project in Saudi Arabia, with its affiliates taking part in various areas from construction to electronics. Under an agreement with Qiddiya Investment Company (QIC), Samsung will collaborate with Saudi officials on the development [...]
SEOUL, Oct. 11 (Korea Bizwire) — The construction segment, traditionally considered to be somewhat conservative and manpower-reliant, is bracing for a change with more and more tech startups in queue to instill a new breath into the industry — digitalization that could boost efficiency and productivity. According to data from the Korea Institute of Startup [...]
SEOUL, Oct. 2 (Korea Bizwire) — There are thousands of ‘underage landlords’ in South Korea who own real estate and collect rent. Rep. Shim Ki-joon of the ruling Democratic Party reported that there were a total of 2,415 juveniles who profited from renting out real estate in 2017. The young landlords generated 50.4 billion won [...]
SEOUL, Sept. 3 (Korea Bizwire) — The South Korean pet boom is leading to big changes in living environment for their owners. These changes are attributed to the growth in popularity of ‘petfam’, a combination of pet and family, in which people consider their dogs and cats as family members. Petfam shows great interest in [...]
SEOUL, Sept. 3 (Korea Bizwire) — More than half of all construction workers in South Korea are foreigners. While Koreans comprise most of the workforce in major phases of construction, tasks that involve using physical labor are mostly completed by foreign workers. The Construction and Economy Research Institute of Korea (CERIK) reported that there were [...]
SEOUL, Aug. 12 (Korea Bizwire) – South Korea will adopt a controversial scheme to cap presale prices of privately built apartments in extended efforts to stabilize real estate markets, the land ministry said Monday. The ministry said the government plans to revise related laws by early October to fully prepare for the adoption of the “presale price [...]
SEOUL, Aug. 8 (Korea Bizwire) — POSCO Co., South Korea’s top steelmaker, has developed a new construction technology that allows builders to add up to three stories at a time. The company said Wednesday that the “P-Box Pillar and Reinforced Concrete Beam Jointing Method,” developed with its customers, has been designated as a new technology [...]
SEOUL, Jul. 10 (Korea Bizwire) – In what could be the strongest measure ever to clamp down on housing prices, South Korea is cautiously moving to revive the controversial scheme to cap presale prices of privately built apartments, which could have a far-reaching impact on the local home market, industry sources said Wednesday. In a [...]
SEOUL, Jun. 26 (Korea Bizwire) — South Korean construction companies are striving to meet their annual overseas order targets amid concerns over a slowdown in the global economy, industry insiders said Wednesday, as they hope to feed off massive plant orders from the Middle East, their traditional cash cow, with oil prices staying high. Also, [...]
SEJONG, Jun. 24 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport announced it will invite local governments and public housing operators across the country to public housing sites needed for the “Property Project for Mid to High-Rise Modular Housing” by August 22. Modular housing refers to a method of building a unit structure [...]