SEOUL, Nov. 13 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold 769 excavators in China last month, almost doubling from a year [...]
SEOUL, Nov. 3 (Korea Bizwire) – The Ministry of Foreign Affairs’ announcement on October 31 that relations between South Korea and China will be normalized was music to the ears of the real estate industry, which has seen the market for high-end hotel room investors dwindle throughout the Chinese economic boycott. The geopolitical tensions and [...]
SEOUL, Nov. 2 (Korea Bizwire) – Doosan Bobcat Inc., a construction equipment unit of Doosan Group, said Thursday that its third-quarter net profit increased 16 percent from a year earlier, largely due to hefty sales in China and other emerging markets. Net profit reached 55.2 billion won (US$49.5 million) in the July-September period, compared with [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korea’s construction sector could suffer a contraction in 2019, a report said Thursday as the government’s moves to stabilize property markets may weigh on new orders. The combined value of construction orders — a leading indicator in the construction sector — posted a 29.5 percent decline in July, [...]
SEOUL, Oct. 27 (Korea Bizwire) – The Ministry of Oceans and Fisheries said Friday the dredging work for Busan Newport on the country’s southeastern tip will be completed next week to accommodate mega container ships. The construction work began in December 2014 with a budget of 60 billion won (US$53 million) to secure 17 meters [...]
SEJONG, Oct. 27 (Korea Bizwire) — South Korea will create an 85 billion-won (US$75.2 million) global infrastructure development fund to address the key constraints of private investment in overseas projects, the land ministry said Friday. The Ministry of Land, Infrastructure and Transportation signed an agreement with the Korea Development Bank and the Export-Import Bank of [...]
DAEJEON, Oct. 25 (Korea Bizwire) – Barriers originally designed to block traffic noise are being revamped with multiple new functions, including anti-fine dust particle and solar energy production features, according to government data. According to statistics provided by the Korean Intellectual Property Office (KIPO), 29 percent of the patent applications for noise barriers filed between 2012 [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korean construction equipment makers, led by Doosan Infracore Co., are witnessing a surge in sales of excavators in India and other emerging countries in addition to their stellar performance in China, industry sources said Tuesday. In the first half of the year, Doosan Infracore saw its sales in [...]
INCHEON, Oct. 24 (Korea Bizwire) — The development of Incheon Free Economic Zone, initially scheduled for completion by 2022, will be delayed to 2030 due to slowed investment in the aftermath of the global financial crisis and real estate market slump, officials said Tuesday. Known as IFEZ, the project was designated in August 2003 as [...]
GWANGMYEONG, South Korea, Oct. 16 (Korea Bizwire) – The South Korean city of Gwangmyeong, just south of Seoul, said Monday it will sign a memorandum of understanding with French national railway company SNCF this year to implement a Eurasia railway project to connect South and North Korea by rail to Europe. Former French Minister for [...]