SEJONG, Dec. 15 (Korea Bizwire) – The home ownership rate in South Korea came to 56 percent in 2015, data showed Thursday. According to the annual data by Statistics Korea, 10.06 million households out of 19.11 million in the country owned homes as of Nov. 1, 2015. The latest data indicated that 44 percent of [...]
SEOUL, Dec. 2 (Korea Bizwire) – The U.N. Security Council imposed new sanctions this week on North Korea, putting a stricter cap on the country’s exports of coal as well as copper, nickel, silver, and zinc. Interestingly, the sanctions also include exports of statues, apparently one of the key sources of income for North Korea, [...]
SEOUL, Nov. 28 (Korea Bizwire) – It would take more than 38 years for the young generation of today to save enough money be able to buy an apartment in the capital, if they save all of their disposable income, statistics showed Monday. The average monthly disposable income for people 39 years old or under [...]
SEOUL, Nov. 25 (Korea Bizwire) – Daelim is set to become the first local construction firm to make use of sound design in an apartment complex. Sound design refers to the process of specifying, manipulating, and producing sound elements to achieve a specific effect or mood. Although it is most associated with sound recording and [...]
DAEJEON, Nov. 21 (Korea Bizwire) – Korean President Park Geun-hye’s ambitious election pledge to reinitiate the project to establish a Universal Studios theme park in Hwaseong, Gyeonggi Province, is again facing dissolution amid the ongoing political scandal engulfing her presidency. According to the Korea Water Resources Corporation (K-Water) and Universal Studios Korea, which are overseeing [...]
SEOUL, Nov. 7 (Korea Bizwire) – The government announced Sunday a revision to its Rules on Housing Supply, to include fetuses and adoptees as part of its ‘multi-child special housing supply’ program. The program was designed to promote child birth with Korea’s fertility rate stuck among the lowest in the world, and gives priority in [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business. The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]
BUSAN, Oct. 26 (Korea Bizwire) – Korea Maritime and Ocean University announced on Wednesday that it is building modular dormitories using shipping containers as a solution to its housing shortage, the first of its kind to be established in the country. Modular container houses take advantage of the durability, low cost, and rapid construction resulting [...]
SEOUL, Oct. 25 (Korea Bizwire) – Korea is seeing a rising number of studio apartments built with “smart” features based on IoT, with the growing popularity of smart homes. According to construction industry watchers, these IoT-equipped efficiency apartments, also referred to as officetels in Korea, are particularly popular among members of the younger generation in their [...]
PYEONGTAEK, South Korea, Oct. 14 (Korea Bizwire) – A massive Chinatown to be established in Pyeongtaek’s Yellow Sea Free Economic Zone (YSFEZ) is finally picking up steam. According to China Castle, the project’s special purpose company (SPC), 50 billion won ($44 million) in capital has been secured, which should allow the venture to take off [...]