SEOUL, Sep. 30 (Korea Bizwire) — It is likely the next-generation submarine for the Republic of Korea Navy will be Jangbogo III (Batch I) based on homegrown technology. The Defense Acquisition Program Administration said on September 29 that Daewoo Shipbuilding & Marine Engineering, the shipbuilder to assemble two 3,000-ton class conventional submarines, has sufficient capabilities to build [...]
SEOUL, Sep. 24 (Korea Bizwire) – Korea’s major retailer E-Mart has begun operations of “Bojeong Logistics Center” in Bojeong-dong in the city of Yongin, south of Seoul. This is the first all-automatic order fulfillment center in Asia. With this new facility, customers of E-Mart online shopping mall will be able to receive packages faster and more precisely. [...]
SEONGNAM, Sep. 24 (Korea Bizwire) – South Korea constructs its first electric tram line in Seongnam City, Gyeonggi Province. Expected to be completed by 2015, the trams that will run for one-point-five kilometers link Pangyo Station to Techno Valley, a district in the satellite city of Pangyo Regarding the tram line, Gyeonggi Governor Nam Kyung-pil [...]
SEOUL, Sep. 21 (Korea Bizwire) – Expo Science Park in Daejeon, the venue for the 1993 Daejeon World Expo, will be demolished in stages until August next year. The Ministry of Science, ICT and Future Planning held on September 19 an international science business belt committee meeting and approved a proposal to tear down the expo [...]
SEOUL, Sept. 20 (Korea Bizwire) – With the honor that Samsung C&T garnered in the Grand Safety Award in MTR Safety Award sponsored by MTRC of Hong Kong, the construction company now tries to dispel Koreans’ worries over the recent sinkholes in southeast Seoul during its subway construction works in Seoul. Recently, the Hong Kong Transit Railway [...]
SEOUL, Sept. 19 (Korea Bizwire) – Only two days after an announcement that it won a super large-scale liquefied petroleum gas carrier order, Daewoo Shipbuilding & Marine Engineering said on September 18 that it landed another deal to build an environmentally friendly liquefied natural gas carrier equipped with a high-pressure fuel supply device. The company’s president Koh Jae-ho [...]
SEOUL, Sep. 18 (Korea Bizwire) – It is shocking that the land size that foreigners own in the Seoul Metropolitan City is as large as that of Yeouido, a large island in the Han River in Seoul and Seoul’s main business and investment banking district. Currently, Americans own about 60 percent of the entire land [...]
SEOUL, Sep. 18 (Korea Bizwire) – Hyundai Motor Group has won one of the most high-profile real estate auctions in South Korea’s history. Korea Electric Power Corp said today the winner for the site of KEPCO’s headquarters, which is estimated to be worth over 3.33 trillion won (US$3.22 billion), is Hyundai Motor Group, which, according to local reports and sources, [...]
SEOUL, Sep. 17 (Korea Bizwire) – Korea’s construction contractors are moving in Africa in droves. Following the groundbreaking ceremony to build a US$160-million bridge linking Botswana with Zambia won by Daewoo Engineering & Construction, POSCO Engineering & Construction landed a deal to build a gas-fired thermal power plant in Nigeria worth $1.14 billion. POSCO E&C said on September [...]
SEOUL, Sep. 13 (Korea Bizwire) – Samsung Engineering has won a refinery plant design project from Petróleos Mexicanos, which translates to Mexican Petroleums, a Mexican state-owned oil company. According to the CEO of Pemex, it will invest a total of $5.5 billion in various large-scale industrial projects which include plant upgrades, gas pipeline expanding, building a [...]