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Archive by category Construction & Real Estate

HDC Hyundai Development Chairman Offers to Resign over Gwangju Apartment Building Collapse

HDC Hyundai Development Chairman Offers to Resign over Gwangju Apartment Building Collapse

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 [...]

DL E&C Commercializes Inter-floor Noise Notification System

DL E&C Commercializes Inter-floor Noise Notification System

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 [...]

S. Korea’s Offshore Construction Orders Reach US$30.6 bln in 2021

S. Korea’s Offshore Construction Orders Reach US$30.6 bln in 2021

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 [...]

Number of Newly Created Firms Hits Record High Last Year Despite Pandemic

Number of Newly Created Firms Hits Record High Last Year Despite Pandemic

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, [...]

Builders’ 2020 Sales Fall for First Time in 21 Years on Pandemic

Builders’ 2020 Sales Fall for First Time in 21 Years on Pandemic

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 [...]

Hanwha E&C Named Preferred Bidder for New Sports-MICE Complex Project in Seoul

Hanwha E&C Named Preferred Bidder for New Sports-MICE Complex Project in Seoul

SEOUL, Dec. 10 (Korea Bizwire) — Hanwha Engineering and Construction Corp. has been picked as the preferred bidder for a project to build a new major sports and convention industry complex in southeastern Seoul, the city government announced Friday. Seoul aims to develop some 350,000 square meters around Jamsil Sports Complex in Seoul’s southeastern Songpa [...]

Hyundai Doosan Infracore Ties Up with SK Ecoplant for Smart Construction Technologies

Hyundai Doosan Infracore Ties Up with SK Ecoplant for Smart Construction Technologies

SEOUL, Nov. 24 (Korea Bizwire) — Construction equipment maker Hyundai Doosan Infracore Co. said Wednesday it has signed a deal with local builder SK Ecoplant to improve digital technologies related to construction site management. Under the deal, Hyundai Doosan Infracore will develop new technologies using its cloud-based construction site management platform XiteCloud, which will be [...]

Doosan Heavy to Sell Controlling Stake in Doosan Engineering

Doosan Heavy to Sell Controlling Stake in Doosan Engineering

SEOUL, Nov. 19 (Korea Bizwire) — Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to hand over the managerial rights to its construction subsidiary Doosan Engineering & Construction Co. to The Zenith Holdings Co., an investment company. The entity to be established by a consortium including Q Capital [...]

Daewoo E&C Takes Steps to Improve Residential Environment for Vietnamese in S. Korea

Daewoo E&C Takes Steps to Improve Residential Environment for Vietnamese in S. Korea

SEOUL, Oct. 18 (Korea Bizwire) — Daewoo Engineering & Construction Co., a major builder in South Korea, is taking initiative to improve the residential environment of the Vietnamese living in the country. The company announced that it had entered into a four-party business agreement with the Vietnamese Embassy in Seoul, Habitat for Humanity Korea and [...]

Property Rental Firms Shine Over Past 5 yrs on Market Boom

Property Rental Firms Shine Over Past 5 yrs on Market Boom

SEJONG, Oct. 8 (Korea Bizwire) — Real estate rental businesses in South Korea have been on a roll over the past five years amid a booming property market, data showed Friday. Property leasing companies in Asia’s fourth-largest economy registered 453.3 trillion won (US$381 billion) in combined revenue between 2016-20, according to the data that the [...]