SEOUL, March 28 (Korea Bizwire) — The government on Monday sought the cancellation of HDC Hyundai Development Co.’s business registration in what could be the heaviest punishment against the builder over a deadly partial collapse of a high-rise building. Outer wall structures of the 39-story apartment building under construction in the city, 330 kilometers south [...]
SEOUL, March 21 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Monday it has started the process of its initial public offering, slated for the first half of next year. SK ecoplant, a unit of SK Group, South Korea’s third-largest conglomerate, said it had sent invitations to major domestic and overseas brokerage houses [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker POSCO, said Wednesday it had developed an apartment ventilation system designed to enable management of air quality for each of an apartment’s rooms and featuring a negative pressure function. Existing apartment ventilation systems remove fine dust [...]
SEOUL, Jan. 19 (Korea Bizwire) — HDC Hyundai Development Co.’s apartment brand ‘IPark’ is facing rising safety concerns following the recent collapse of an apartment building. On Jan. 11, the facade on a 39-story apartment building crumbled to the ground at its construction site in Gwangju, about 330 kilometers southwest of Seoul, killing at least [...]
SEOUL, Jan. 19 (Korea Bizwire) — Tension is rising in the construction industry as the recent Gwangju apartment building collapse is drawing the eyes of the public to construction safety. Lotte Engineering & Construction Co. held this year’s management strategy conference and a ‘safety culture’ declaration ceremony last Friday to emphasize foremost the value of [...]
SEOUL, Jan. 17 (Korea Bizwire) — The chairman of major South Korean real estate developer HDC Hyundai Development Co. offered to step down Monday to take responsibility for a recent accident at its construction site that left one worker dead and five others missing. Chung Mong-gyu made the statement six days after part of the [...]
SEOUL, Jan. 14 (Korea Bizwire) — A South Korean construction company has launched an inter-floor noise notification system as a way to prevent disputes over noise between floors. DL E&C Co. said Thursday that it had developed an inter-floor noise notification system that can notify the occupants of inter-floor noise and provide objective data. When [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korean construction companies have won US$30.6 billion worth of orders from overseas this year, surpassing the $30 billion mark for the second straight year despite the prolonged coronavirus pandemic, data showed Thursday. A total of 318 builders have won 501 such deals from 91 countries in 2021, with [...]
SEOUL, Dec. 17 (Korea Bizwire) — The number of newly established companies rose to a record high last year, but in-person service segments reported a sharp fall in new businesses due to the pandemic, data showed Friday. Last year, the number of newly created firms reached a record 1.06 million, up 62,000, or 6.2 percent, [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean construction companies’ sales dropped on-year in 2020 for the first time in 21 years due to the coronavirus pandemic, government data showed Thursday. The combined top line of local builders reached 396.9 trillion won (US$336 billion) last year, down 1.1 percent from the previous year, according to [...]