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Seoul’s Last-ditch Home Supply Plan Still in Doubt over its Viability

Seoul’s Last-ditch Home Supply Plan Still in Doubt over its Viability

SEOUL, Aug. 4 (Korea Bizwire) — South Korea on Tuesday unveiled an unprecedented plan to supply more than 130,000 homes in Seoul and adjacent areas over the next eight years in its latest struggle to contain a further rise in housing prices, which have even dragged down the Moon Jae-in administration’s approval ratings. But the [...]

SK E&C Reaches Compensation Deal with Laos over Deadly Dam Collapse

SK E&C Reaches Compensation Deal with Laos over Deadly Dam Collapse

SEOUL, July 9 (Korea Bizwire) — SK Engineering & Construction Co. said Thursday that it has reached a deal with authorities in Laos to compensate victims of a deadly hydroelectric dam collapse in the Southeast Asian country. The Xe-Pian Xe-Namnoy Power Co., a joint venture involving the South Korean builder, inked the deal with the [...]

Plant Extracts Used to Disperse Dust at Construction Sites

Plant Extracts Used to Disperse Dust at Construction Sites

SEOUL, May 18 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker, POSCO, will team up with a small and medium-sized company to develop technologies that can drastically reduce dust generation, a major headache at construction sites. The company held an agreement ceremony on Friday with Hyundai Fine [...]

Shinsegae Group to Build Theme Park in Hwaseong

Shinsegae Group to Build Theme Park in Hwaseong

SEOUL, April 17 (Korea Bizwire) — An international theme park is being planned for Hwaseong, Gyeonggi Province. The Ministry of Land, Infrastructure and Transport, Korea Water Resources Corp. and Shinsegae Property Consortium — Shinsegae Property and Shinsegae Engineering & Construction — announced Thursday the signing of a contract to start the construction of an international [...]

Small Apartments Increasingly Popular with Surge in Single-person Households

Small Apartments Increasingly Popular with Surge in Single-person Households

SEOUL, March 10 (Korea Bizwire) — With the growing number of single-person households in South Korea, the real estate market is also seeing more and more residential complexes supplying small-sized apartments. The market is reducing some of the traditionally popular medium- and large-sized units and expanding the supply of small ones. The number of family [...]

Hyundai Developing Hydrogen-powered Construction Equipment

Hyundai Developing Hydrogen-powered Construction Equipment

SEOUL, Feb. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, and Hyundai Construction Equipment Co. (HCE), the country’s No. 2 construction equipment maker, will join hands to develop construction vehicles such as excavators and forklifts powered by hydrogen. The two and Hyundai Mobis Co., the country’s biggest auto parts maker [...]

Coronavirus Leaves Construction Industry in Dilemma over Model Homes

Coronavirus Leaves Construction Industry in Dilemma over Model Homes

SEOUL, Feb. 10 (Korea Bizwire) — In the wake of the spread of the novel coronavirus infection, also known as Wuhan pneumonia, events that attract massive crowds are being cancelled. Meanwhile, the construction industry is having to deal with a difference in opinions between those in the Seoul metropolitan area and provincial areas over the [...]

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]