SEOUL, Nov. 10 (Korea Bizwire) — A mid-sized Korean construction company has raised a lawsuit against the Chinese government for violating investment contract terms. This is the first time for a Korean firm to resort to the international investment dispute settlement mechanism to try to get compensation from the Chinese government. The Washington, D.C.-based International Center for [...]
SEOUL, Nov. 5 (Korea Bizwire) – An upscale open-street shopping mall will spring up along the Bangchuk Stream in the Sejong metropolitan autonomous city by 2017. The Multifunctional Administrative City Construction Agency said on November 3 that it signed land sale contracts with four final bidders. Since August this year, the agency has invited bidders to build [...]
SEOUL, Oct. 31 (Korea Bizwire) – From now on, large retail establishments such as discount outlets and department stores do not have to spend fortunes to replace their moving walks regularly. Lotte Mart said on October 30 that it has applied for a patent for an escalator and moving walkway pallet processed for extra traction for the first [...]
SEOUL, Oct. 30 (Korea Bizwire) – The Pohang steel works of POSCO has been recognized for its test capabilities in the area of carbon steel chemistry by an international certification agency. According to the steel maker on October 29, the chemistry testing labs within the quality control division of Pohang Works were certified as one of the best [...]
SEOUL, Oct. 30 (Korea Bizwire) – It takes 28.5 years for a newlywed couple to lease a “jeonse” apartment in Seoul, according to the Citizens’ Coalition for Economic Justice which analyzed data from Kookmin Bank, Statistics Korea and the Ministry of Employment and Labor. Houses in capital regions such as Gyeonggi Province and Incheon City take [...]
SEOUL, Oct. 29 (Korea Bizwire) – From now on, apartment management firms will be able to build community facilities such as a rec center, a conference room or a library underneath the pilotis. The Ministry of Land, Infrastructure and Transport said on October 28 that a proposed enforcement ordinance of the housing construction law has passed the [...]
SEOUL, Oct. 24 (Korea Bizwire) – LG Group is set to build a large-scale science park in the Magok Industrial Park in the southwest of Seoul by holding on October 23 a groundbreaking ceremony at the site. In the ceremony, 500 or so dignitaries were in attendance including President Park Geun-hye, Minister of Trade, Industry and [...]
SEOUL, Oct. 22 (Korea Bizwire) – Samsung Heavy Industries said on October 21 that it has developed a robot that can clean the bottom water-immersed part of the ship. As the new robot can replace the expensive re-docking job performed before delivering the ship to the client, it is expected to save a lot of cost for the [...]
SEOUL, Oct. 15 (Korea Bizwire) – South Korea appears to ease regulations on the green belt zone as it gives a green light to building more energy infrastructures to be allowed within the green zones. The Ministry of Land, Infrastructure and Transport (MLIT) announced on October 14 that it will be permitted that oil pipelines [...]
![[In-depth] SK Group Announces Blueprint to Transform Daejeon into a Silicon Valley](http://koreabizwire.com/wp/wp-content/uploads/2014/10/14480387419_11e66e21c3_z.jpg "[In-depth] SK Group Announces Blueprint to Transform Daejeon into a Silicon Valley")
SEOUL, Oct. 12 (Korea Bizwire) – SK Group will invest more than 90 billion won (US$83.8 million) in the cities of Daejeon and Sejong to transform the areas into a Silicon Valley-like tech hotbed. The group announced its plan on October 10 in a ceremony to launch the Daejeon Creative Economy Innovation Center in which the President [...]