SEOUL, Nov. 18 (Korea Bizwire) — South Korean tech giant Naver Corp. said Monday it will establish a joint venture with Saudi Arabia’s state housing company to collaborate for digital twin platform projects in the Middle East. Naver and Saudi Arabia’s National Housing Company signed a memorandum of understanding for the establishment of the joint [...]
SEOUL, Nov. 12 (Korea Bizwire) – In a major development for South Korea’s entertainment industry, Shinsegae Group, led by Chairman Chung Yong-jin, has announced plans to partner with U.S. entertainment conglomerate Paramount to create a massive international theme park, marking Paramount’s first such venture outside North America. The 4.57 trillion won project, named Star Bay City, [...]
SEOUL, Nov. 8 (Korea Bizwire) – Leading construction organizations in South Korea have launched a new initiative to improve the industry’s public image, which has been tarnished by repeated incidents of substandard work, safety violations, and corruption. The Korea Federation of Construction Associations announced on November 7 that it held its kickoff meeting for the “Construction [...]
SEOUL, Nov. 7 (Korea Bizwire) – The South Korean government is set to lower barriers for foreign investment in the Saemangeum reclamation project, one of the country’s largest infrastructure developments, according to a joint announcement on November 6 by the Ministry of Land, Infrastructure and Transport and the Saemangeum Development and Investment Agency. Under current regulations, [...]
SEOUL, Oct. 16 (Korea Bizwire) – In a significant breakthrough for urban living, Hyundai Engineering announced on October 15 that it has developed South Korea’s first “ceiling-type soundproofing structure,” a novel approach to tackling the persistent issue of inter-floor noise in apartment buildings. Unlike traditional floor-based soundproofing methods, this innovative system is installed in the ceiling, [...]
SEOUL, Oct. 10 (Korea Bizwire) – Samsung C&T, a major player in South Korea’s construction industry, announced on October 9 the launch of its new building platform, Bynd, marking a significant step in the company’s expansion into digital space innovation. The platform integrates various services essential for commercial buildings, leveraging cutting-edge technologies such as generative artificial [...]
SEOUL, Oct. 9 (Korea Bizwire) – South Korea’s job market presented a mixed picture in the first half of 2024, with significant job losses in construction and retail sectors contrasting with growth in social welfare and software development, according to a report released by Statistics Korea on October 8. The “Regional Employment Survey: Industrial and Occupational Characteristics [...]
SEOUL, Oct. 1 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has signed an initial pact with a Saudi Arabian foundation for cooperation in a smart city project. The South Korean automotive group and Misk Foundation signed a memorandum of understanding (MOU) for a partnership in a Saudi Arabian smart city project and to [...]
SEOUL, Oct. 1 (Korea Bizwire) – In an innovative approach to environmental conservation, DL E&C, a major South Korean construction company, has introduced urban beekeeping at one of its construction sites, the company announced on September 30. This marks the first instance of a domestic construction firm establishing an urban apiary to promote biodiversity. The pilot [...]
SEOUL, Sept. 25 (Korea Bizwire) – GS E&C, a leading South Korean construction firm, announced on September 24 the development of an artificial intelligence-powered translation program called Xi Voice to facilitate communication with foreign workers at construction sites. The innovative tool, designed to address the challenges of a multilingual workforce, can convert spoken Korean into text [...]