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Popularity of Government’s Public Auction Website Soars

Popularity of Government’s Public Auction Website Soars

SEOUL, March 20 (Korea Bizwire) – A public online auction system called “Onbid” is seeing a growing number of users, according to the organization behind the website, the Korea Asset Management Corporation (KAMCO). Onbid, an auction service which began in 2002, was introduced to make it easy for both buyers and sellers to bid and [...]

Ground Broken for World’s Longest Suspension Bridge in Turkey

Ground Broken for World’s Longest Suspension Bridge in Turkey

SEOUL, March 19 (Korea Bizwire) – A groundbreaking ceremony has been held in a Turkish seaport for the construction of the world’s longest suspension bridge by an international consortium led by South Korean builder SK E&C, industry sources said Sunday.  The ceremony took place on Saturday in Canakkale, Turkey, to coincide with the 60th anniversary [...]

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

SEOUL, March 17 (Korea Bizwire) – An international consortium led by major South Korean builder SK E&C has inked a deal to build the world’s longest suspension bridge in Turkey, government officials in Seoul said Friday.  The deal, said to be worth some US$3 billion, was signed in Ankara on Thursday, according to officials from [...]

New Plans to Revamp Seoul Station Include Railroad Tracks Leading to North Korea

New Plans to Revamp Seoul Station Include Railroad Tracks Leading to North Korea

SEOUL, March 16 (Korea Bizwire) – Plans to make space at Seoul Station for a possible train line leading to North Korea in the event of Korean unification were revealed by government officials yesterday. A senior official at the Ministry of Land, Infrastructure, and Transport (MOLIT) spoke about the grand plan, saying, “Although the Gyeongwon Line [...]

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

SEOUL, March 14 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Tuesday that it has bagged a 300 billion-won (US$262 million) deal to upgrade an existing power plant in Indonesia.  Under the deal with the state-run Indonesian PLN, Doosan Heavy and a state-run Indonesian construction firm will [...]

Architectural Idea Turns Restrooms into Fireproof Refuges

Architectural Idea Turns Restrooms into Fireproof Refuges

SEJONG, Feb. 27 (Korea Bizwire) – Among this month’s three “new architectural technologies” chosen by the Ministry of Land, Infrastructure and Transport was a restroom design that can function as a shelter in case of fire.  In the new design, a water barrier is created at the restroom’s entrance by sprinklers during an emergency, preventing [...]

Rush to Build Traditional Housing Faces Limitations

Rush to Build Traditional Housing Faces Limitations

SEOUL, Feb. 16 (Korea Bizwire) – Interest in hanok, traditional Korean-style housing, has skyrocketed with new architectural technology and financial support in the form of government subsidies, and more and more Koreans are now rushing to build houses using once-forgotten traditional designs. According to government sources, over 50 local governments have come up with official [...]

Lotte World Tower Assumes Title of Tallest Building in Korea

Lotte World Tower Assumes Title of Tallest Building in Korea

SEOUL, Feb. 14 (Korea Bizwire) – Doosan’s ‘We’ve the Zenith’ in Haeundae, Busan, which has been recognized as the tallest building in Korea since construction was completed in 2011, will soon be handing over the title to the Lotte World Tower in Jamsil, Seoul. As of the end of last year, the tallest among completely [...]

S. Korea to Build 900 Kilometers in New Roads in 2017

S. Korea to Build 900 Kilometers in New Roads in 2017

SEOUL, Feb. 9 (Korea Bizwire) – South Korea will extend national roads by over 900 kilometers this year, greatly improving the accessibility of the entire nation while also helping boost the local economy, the government said Thursday.  Also, more than 60 percent of 7.3 trillion won (US$6.37 billion) in government budget earmarked for the construction [...]