SEOUL, July 4 (Korea Bizwire) – Beginning in November this year, construction contractors with no record of administrative sanctions will get privileges when they try to get approval for business expansion. The Ministry of Land, Infrastructure, and Transport said on July 3 that it would pre-announce an “enforcement ordinance and regulation on the construction industry basic law” [...]
SEOUL, July 4 (Korea Bizwire) – For the ongoing land reclamation project in Saemangeum area in the southwest, the Korean government decided to enlist foreign companies to have the right to develop the reclaimed land and allow the developers to resell less than 50 percent of the land. Currently, the development project for the reclaimed land [...]
SEOUL, July 3 (Korea Bizwire) – LG Chem will build an electric vehicle battery plant in China’s Nanjing, the third plant after Cheongju (Korea) and Holland (Michigan, U.S.). The company held a signing ceremony at its LG Twin Tower in Yoido, Seoul, on July 2 with high-ranking officials from the Nanjing city government. The ceremony was attended [...]
SEOUL, June 26 (Korea Bizwire) –As the Fair Trade Commission pressures the construction contractors ever harder for colluding in biddings, the total bill for penalties for the past two years has surpassed 450 billion won. Accordingly, some contractors with poor results this year had to pay fines in excess of their profits. According to construction industry [...]
SEOUL, June 24 (Korea Bizwire) – The real estate market of Korea lights up with the news that an immigration policy linked to real estate investment will now include investment in unsold apartment units in addition to resort properties in free economic zones. A legal provision on immigration related to real estate investment grants permanent residency [...]
SEOUL, June 21 (Korea Bizwire) – The corporate social responsibility (CSR) activities of domestic companies become increasingly crucial as South Asian and Southeast Asian countries centering on India ask them to expand the CSR activities. For example, India enforced a law making CSR activities compulsory for large companies last April. According to the law, companies [...]
SEOUL, June 20 (Korea Bizwire) – Asian investors including those from Hong Kong are increasing their possession of Japanese real estates. Even then, many visit to Japan not for tourism purposes but for checking the sites for themselves. Amidst the increasing perception that the Japanese real estate market is relatively undervalued, the weakening yen adds [...]
SEOUL, June 13 (Korea Bizwire) – A gas storage and regasification unit provided by Daewoo Shipbuilding and Marine Engineering (DSME) will support the power generation needed for the upcoming World Cup Games in Brazil by supplying natural gas from the offshore facilities. DSME announced on June 11 that its LNG-FSRU*, or liquefied natural gas floating [...]
SEOUL, June 12 (Korea Bizwire) – Hankook Tire held on June 10 a groundbreaking ceremony for a central research center at Daejeon’sDaedeok Science Park and announced a future vision for leapfrogging into a global top-tier tire brand. The R&D center will hire a total of 1,000 research staff at the center and strengthen its capabilities in basic [...]
SEOUL, June 10 (Korea Bizwire) – Hanwha Engineering & Construction announced on June 9 that it has completed the construction of the world’s largest domed performance hall, the Philippine Arena, near Manila recently. The indoor arena which was completed on May 30 was built on the total area of 74,000 square meters with 51,000 seats [...]