SEOUL, Jul. 24 (Korea Bizwire) — Hundreds have gone missing after a dam collapsed in southeast Laos on Monday, affecting 1,300 households and displacing around 6,600 people, the Laotian news agency KPL reported Tuesday. According to the report, one of the auxiliary dams collapsed around 8 p.m. Monday at the Xepian-Xe Nam Noy hydropower plant [...]
SEOUL, Jun. 8 (Korea Bizwire) — Yang Jong-moon’s routine for the past few months has involved dropping by his apartment complex’s community center once or twice a week to pick up breakfast before he heads off to work. In September, the Banpo Riche apartment building where he lives began to offer breakfast to its residents [...]
SEOUL, May 29 (Korea Bizwire) — At an apartment complex in Seoul, a woman comes home from the supermarket. As she enters the corridor, an air shower system activates, and fine dust is removed with ease. Feeling refreshed, she enters the living room. With a wave of her right hand, the curtains are drawn automatically. [...]
SUWON, Feb. 19 (Korea Bizwire) — The Gyeonggi Urban Innovation Corporation has unveiled plans for a global business center at the Second Pangyo Techno Valley. The 249.5 billion won project will see a 13-storey building built on a 12,817 square meter lot, an edifice that will serve as the Global Biz Center for the much anticipated [...]
SEOUL, Feb. 8 (Korea Bizwire) — The completion of two new nuclear reactors has been delayed by eight months to meet strengthened safety requirements against earthquakes, the energy ministry said Thursday. Construction of Shin-Hanul No. 1 and No. 2 reactors began in April 2010 and was planned to be completed by February next year. Ministry [...]
SEOUL, Feb. 8 (Korea Bizwire) — Samsung Engineering Co., a major South Korean industrial plant builder, said Thursday that its joint venture secured a US$ 3.1 billion deal to upgrade an oil refinery in the United Arab Emirates. Under the deal with the Abu Dhabi National Oil Company (ADNOC), Samsung and Netherlands-based CB&I will introduce [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s top financial regulator said Sunday that it will tighten capital regulations on high-risk household lending, in the latest move meant to slow the pace of household debt growth. The stricter regulations will be applied to banks, savings banks and insurance firms that provide loans to home buyers [...]
SEOUL, Dec. 19 (Korea Bizwire) — CJ Logistics Corp., the logistics arm of South Korea’s food and entertainment conglomerate CJ Group, said Tuesday it will absorb and merge with the group’s construction unit as part of efforts to hone its competitiveness. The merger ratio will be one CJ Logistics share for every 0.54 CJ Engineering [...]
SEJONG, Dec. 15 (Korea Bizwire) – The government has announced plans for nationwide New Deal projects that will see 68 attractions across the country revitalized, including the city of Tongyeong. According to plans revealed by the government on Thursday, a number of old local landmarks and cultural assets in South Korea will take center stage [...]
SEOUL, Dec. 14 (Korea Bizwire) – Of the South Korean households that are renters, 60.5 percent utilize “wolse”, or monthly payment rental systems, boosted by a growing low-income bracket. According to the Korea National Council of Consumer Organizations, the percentage of households renting using “jeonse” – a key money deposit system usually requiring a lump-sum [...]