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Seven Korean Companies Secure Spots on Deloitte Korea’s 2022 List of Top 100 Global Builders

Seven Korean Companies Secure Spots on Deloitte Korea’s 2022 List of Top 100 Global Builders

SEOUL, Sept. 20 (Korea Bizwire) – Samsung C&T Corp. and six other South Korean companies have ranked among the world’s top 100 builders based on their 2022 sales, Deloitte Korea said Wednesday. Samsung C&T, the construction and trading arm of South Korea’s No. 1 conglomerate Samsung Group, placed 15th, down two notches from a year [...]

Hyundai E&C Forms Partnership Agreement with Energy IT Startup

Hyundai E&C Forms Partnership Agreement with Energy IT Startup

SEOUL, Sept. 11 (Korea Bizwire) –Hyundai Engineering & Construction Co. (Hyundai E&C) said Monday it has signed a partnership deal with a local energy IT startup via an equity investment in an effort to break into the power brokerage business. Hyundai E&C, South Korea’s No. 2 builder, didn’t disclose the amount of its investment in [...]

Underage Landlords in Korea See 30% Income Growth Over 5 Years

Underage Landlords in Korea See 30% Income Growth Over 5 Years

SEOUL, Sept. 11 (Korea Bizwire) – A recent study has revealed a 30 percent surge in underage individuals earning income as landlords over the past five years. In 2021, a total of 3,136 underage landlords collectively generated 54.8 billion won in rental income, averaging 17.48 million won per person annually. This escalating trend of underage [...]

S. Korea’s Overseas Construction Orders Rise 20 pct in Jan.-Aug. Period

S. Korea’s Overseas Construction Orders Rise 20 pct in Jan.-Aug. Period

SEOUL, Sept. 10 (Korea Bizwire) — South Korean construction companies’ overseas orders increased 20 percent in the January-August period from a year earlier to exceed US$20 billion, industry data showed Sunday. Local builders obtained $21.9 billion worth of overseas orders between January and August, up from $18.3 billion worth of deals in the same period [...]

You Can Become a Building Owner in Apgujeong for Only 5,000 Won

You Can Become a Building Owner in Apgujeong for Only 5,000 Won

SEOUL, Sept. 8 (Korea Bizwire) — On Thursday, Kasa, a real estate securities trading platform, announced that the subscription rate for its seventh public offering building, ‘Apgujeong Commerce Building,’ exceeded 56 percent on the first day of the public offering. On Wednesday, the initial day of the public offering, the company raised 9.4 billion won [...]

Changing Apartment Preferences: Green Spaces and Comfort Take Priority in Korea’s Housing Market

Changing Apartment Preferences: Green Spaces and Comfort Take Priority in Korea’s Housing Market

SEOUL, July 9 (Korea Bizwire) — The criteria for Koreans choosing an apartment, the most common form of housing in the country, are undergoing a transformation. In the past, the proximity to subway stations, known as ‘Yeokssekwon’ or station areas, was considered an essential factor due to its emphasis on transportation convenience. However, there is [...]

GS E&C Expands into Single-Family Home Market with XiGEIST’s Modular Housing

GS E&C Expands into Single-Family Home Market with XiGEIST’s Modular Housing

SEOUL, April 13 (Korea Bizwire) —GS E&C, the owner of the Xi apartment brand, is expanding into the single-family home market. The company announced on Thursday that its subsidiary, XiGEIST, which specializes in wooden modular houses, will launch its website and commence business-to-consumer (B2C) sales in earnest. The modular houses are produced in a factory [...]

Repair Costs Named as Primary Cause of Commercial Lease Disputes Last Year

Repair Costs Named as Primary Cause of Commercial Lease Disputes Last Year

SEOUL, Feb. 24 (Korea Bizwire) — Conflicts over repair costs accounted for the largest share of commercial lease disputes in Seoul last year, the city government said said Thursday. According to the Seoul Metropolitan Government, 188 dispute cases were filed with the commercial lease dispute coordination committee last year, of which 28.2 percent or 53 [...]

S. Korea to Ease Set of Tax Regulations in Property Market

S. Korea to Ease Set of Tax Regulations in Property Market

SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to revamp a set of tax regulations on the property market to ease the financial burden of people amid soaring borrowing costs. Under the plan, South Korea will allow owners of two homes topay less taxes if they dispose of one [...]