SEOUL, Sep. 18 (Korea Bizwire) – Hyundai Motor Group has won one of the most high-profile real estate auctions in South Korea’s history. Korea Electric Power Corp said today the winner for the site of KEPCO’s headquarters, which is estimated to be worth over 3.33 trillion won (US$3.22 billion), is Hyundai Motor Group, which, according to local reports and sources, [...]
SEOUL, Sep. 17 (Korea Bizwire) – Korea’s construction contractors are moving in Africa in droves. Following the groundbreaking ceremony to build a US$160-million bridge linking Botswana with Zambia won by Daewoo Engineering & Construction, POSCO Engineering & Construction landed a deal to build a gas-fired thermal power plant in Nigeria worth $1.14 billion. POSCO E&C said on September [...]
SEOUL, Sep. 13 (Korea Bizwire) – Samsung Engineering has won a refinery plant design project from Petróleos Mexicanos, which translates to Mexican Petroleums, a Mexican state-owned oil company. According to the CEO of Pemex, it will invest a total of $5.5 billion in various large-scale industrial projects which include plant upgrades, gas pipeline expanding, building a [...]
INCHEON, Sep. 11 (Korea Bizwire) – Intercontinental Hotels Group announced that it opened Holiday Inn Incheon Songdo on September 5 in the Songdo International Business District. The Holiday Inn in Songdo is the first hotel of the group built in metropolitan areas in Korea. The hotel is nestled within Songdo Central Park with Canal Walk shopping malls, Songdo [...]
SEOUL, Sept. 5 (Korea Bizwire) – Piano wire, made for use in piano strings, has found a new, unexpected use in chasing pigeons away so that buildings and structures could avoid premature corrosion as well as bad odor and noise. The Seoul metropolitan city government said on September 4 that it has come up with a novel [...]
SAN FRANCISCO and SEOUL, Sept. 5, 2014 (Korea Bizwire) – ASD Global, the industry leader in knowledge-based engineering software solutions for early-stage design through construction planning of projects for the Process, Power and Marine (PPM) industries, has selected KorACE to be its exclusive Agent in the Korean Peninsula. KorACE is headquartered in Seoul, Korea and [...]
SEOUL, Sept. 4 (Korea Bizwire) – The Seoul metropolitan city government said on September 3 that it would determine whether to fully open the lower floors of the second Lotte World building in Seoul’s Jamshil after tentatively allowing a ten-day “pre-open” period. During the period, groups of citizens will visit the building to see whether the building is [...]
SEOUL, Sep. 2 (Korea Bizwire) – Two Samsung Group companies Samsung Heavy Industries and Samsung Engineering have decided to merge with each other in a board of directors meeting on September 1. The two companies will exchange shares at the ratio of 1 to 2.36. Samsung Heavy Industries will grant 2.36 shares to Samsung Engineering shareholders for every share [...]
SEOUL, Aug. 29 (Korea Bizwire) — After five years since its groundbreaking, “Lotte Center Hanoi,” the 272-meter-high skyscraper in Hanoi constructed by Lotte Group, is finally ready for grand opening on Vietnam’s National Liberation Day, September 2. According to Lotte Asset Development on August 27, what will be the landmark of Vietnam’s capital city with 14,000 square [...]
SEOUL, Aug. 28 (Korea Bizwire) – Daewoo Engineering & Construction announced on August 27 that it won a tender for the construction of Kazungula Bridge connecting Zambia and Botswana at the price of US$161 million, equivalent to 163 billion won. The construction contractor will build a bridge crossing the Zambezi River running along the border in [...]