SEJONG, Dec. 12 (Korea Bizwire) — The South Korean government has announced plans for a second Pangyo Techno Valley by 2022, which will provide office space to nearly 1,400 businesses at affordable prices to boost promising startup companies. Under the startup complex project plan revealed on Monday, a new industrial complex will be built in addition [...]
SEOUL, Dec. 7 (Korea Bizwire) – A major heavy ion accelerator project has been given the green light, with a budget of 1.4 trillion won and an expected completion date in 2021, according to the science ministry. The Ministry of Science and ICT’s business monitoring task force announced plans on Wednesday for the construction of a [...]
SEOUL, Dec. 7 (Korea Bizwire) — Hyundai Development Company is converting to a holding company through a major structure reshuffle. At a board meeting held on Tuesday, plans were announced to divide the current structure of HDC into two, including a holding company and a separate operating company with official names yet to be determined. Through [...]
SEOUL, Dec. 6 (Yonhap) — Hanwha Energy Corp., a South Korean renewable energy developer, said Wednesday that it has won a US$50 million deal to build a solar power plant in Malaysia for a local state-run power company, Tenaga Nasional. Hanwha said it is set to break ground for the 48-megawatt solar facility in Chuping, [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean hotel chains are targeting Southeast Asian countries to bypass tough competition at home and take advantage of the region’s fast-growing economy, industry watchers said Sunday. Industry watchers said Southeast Asia is an attractive market for local hotel chains as South Koreans also frequently visit the region for [...]
SEOUL, Nov. 30 (Korea Bizwire) – A new survey has revealed that the South Korean construction industry will continue to suffer from labor shortages next year without foreign workers. Findings from the survey conducted by the Construction Workers Mutual Aid Association show that the construction industry will need around 1.61 million workers next year. However, the [...]
SEOUL, Nov. 27 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Monday it has won a US$602 million project to build an underground expressway in Singapore. Under the contract, Samsung C&T will design and construct the 1.25 kilometer stretch of the underground expressway between Novena Rise and Toa Payoh Rise, [...]
INCHEON, Nov. 24 (Korea Bizwire) – The Incheon Port Authority is ramping up efforts to attract investment at its new culture and tourist complex dubbed Golden Harbor, ahead of the opening of a new international ferry terminal at the Port of Incheon. The Incheon Port Authority (IPA) said on Thursday that the new Golden Harbor [...]
SEJONG, Nov. 22 (Korea Bizwire) — The land ministry will conduct research and development to build structure exteriors that can better withstand earthquakes, officials said Tuesday. A magnitude 5.4 tremor in the southeastern city of Pohang on Nov. 15 showed a building’s outer surface falling apart, raising new safety concerns that current construction regulations do [...]
SEOUL, Nov. 20 (Korea Bizwire) — Daewoo Engineering & Construction Co., a major construction firm here, said Monday it will partner with Tata Projects Ltd. to build a 953 billion-won (US$863 million) bridge in India. Daewoo E&C and TPL won the order from the Mumbai Metropolitan Region Development Authority (MMRDA). MMRDA plans to build the [...]