SEOUL, June 27 (Korea Bizwire) – As the city of Seoul has recently established a ‘Seoul Resident Grievance Center’ at the Seosomun local government office to resolve conflicts between residents due to inter-floor noise in apartment buildings, the construction industry is also coming up with specialized designs to minimize the transmission of noise between floors. According [...]
SEOUL, June 21 (Korea Bizwire) – With an increasing number of consumers who have grown more careful and rational in their spending, newly-built apartments are offering various common facilities and services to reduce consumer burdens and maximize convenience. Hyundai Engineering & Construction has implemented a car-sharing service at its latest apartment complex, Hill State Dongtan, [...]
SEOUL, June 17 (Korea Bizwire) – While investigations into Lotte Group, one of Korea’s top five conglomerates, regarding slush funds are marring its reputation, the “skyscraper curse”, a popular belief that a country or a company that constructs a skyscraper eventually confronts a mishap, is in the public eye. Construction on the second Lotte World (Lotte [...]
SEOUL, June 4 (Korea Bizwire) – A recent study found that the rate of increase for office rents in Seoul was the second-highest in Asia, among 19 major cities. According to a study conducted by major U.K. real estate consulting corporation Knight Frank, rents in Seoul during this year’s first quarter increased by 2.6 percent compared [...]
SEOUL, June 1 (Korea Bizwire) – On the morning of June 1, 7:20 a.m., an accident occurred at a metro construction site in Namyang-ju, northern Seoul, killing four on the site according to Yonhap news. The number of injuries has been confirmed as eight and others were transferred to a nearby hospital. Witnesses said there had [...]
SEOUL, April 26 (Korea Bizwire) – South Korea will make a stronger push in restructuring financially-troubled shipping and shipbuilding companies, but the restructuring drive itself should be spearheaded by firms and their creditors, the country’s top financial regulator said Tuesday. “Last year, the overall value of ship orders clenched by local shipbuilders stood at US$10 [...]
SEOUL, April 26 (Korea Bizwire) – Jamsil Sports Complex and its surrounding areas will be transformed into an ambitious new site for international conventions and exhibitions. The Seoul Metropolitan Government decided on a master plan for the area’s transformation on Monday. It’s a grandiose project to establish a global MICE (Meetings, Incentives, Conferencing, Exhibitions) center [...]
SEOUL, April 21 (Korea Bizwire) – Hyundai Heavy Industries Co., the world’s largest shipbuilder by order backlog, will cut more than 10 percent of its workforce this year as part of its restructuring efforts, industry sources said Thursday. The Ulsan, South Korea-based shipbuilder is planning to announce its detailed self-help measures, including the planned job [...]
SEOUL, Jan.12 (Korea Bizwire) – According to an exclusive report from The KyungHyang newspaper, a Korean daily journal, Macquarie Korea Infrastructure Financing (MKIF), the Australian company managing Gwangju’s second beltway, is rejecting the local government’s offer to financially support the installation of Highpass, an electric toll system. The route is the only toll road in Korea [...]
SEJONG, Jan. 5 (Korea Bizwire) - South Korea’s antitrust watchdog said Tuesday that it has fined six local cement makers a combined 199.4 billion won (US$167.6 million) for fixing the prices of cement products and divvying up the market. According to the Fair Trade Commission (FTC), cement companies have allegedly colluded to rig the prices of [...]