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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 [...]

Builders Target Riches with Luxury Apartment Brands

Builders Target Riches with Luxury Apartment Brands

SEOUL, Nov. 23 (Korea Bizwire) — Branding, among others, may be one of the key selling points for a product, and that’s why South Korean builders are in sync in launching luxury apartment brands, or renewing their brand identities for high-end consumers amid deepening polarization in the local housing market. Lotte Engineering & Construction Co. [...]

Seoul Unveils Plan to Invigorate Reverse Mortgages for Elderly Homeowners

Seoul Unveils Plan to Invigorate Reverse Mortgages for Elderly Homeowners

SEOUL, Nov. 13 (Korea Bizwire) — South Korea announced plans to kick-start the so-called reverse annuity mortgage market Wednesday in an effort to help support elderly homeowners financially. The measure, unveiled by a pan-governmental task force on population policy, would lower the age limit for applicants for reverse annuity mortgages to 55 from the current [...]