SEOUL, Aug. 29 (Korea Bizwire) — Lotte Engineering & Construction said Thursday it has stepped up workplace safety measures in line with the government’s newly announced “12 Core Safety Rules,” rolling out technology and policies aimed at protecting laborers in one of South Korea’s most accident-prone industries. The company has developed what it calls the [...]
SEOUL, Aug. 12 (Korea Bizwire) — The South Korean government is focusing on reforming subcontracting practices in the construction industry, identifying illegal subcontracting and reckless sub-subcontracting as major contributors to workplace accidents. According to the Ministry of Employment and Labor, Minister Kim Young-hoon recently announced plans to collaborate with relevant agencies to eliminate these illegal [...]
SEOUL, Aug. 6 (Korea Bizwire) — POSCO E&C, the construction arm of South Korea’s leading steelmaker POSCO Group, said Wednesday it has begun an emergency management system and temporarily suspended new orders in its infrastructure business following a series of fatal industrial accidents at company-managed construction sites. In a statement, the company said any business [...]
SEOUL, August 4 (Korea Bizwire) — LG Electronics’ modular home concept, the “LG Smart Cottage,” is capturing growing attention among South Koreans embracing emerging lifestyle trends such as workations and the “5-to-2” urban-rural split living model. According to LG, all 200 slots for its recent open house tour in Gimje, North Jeolla Province, were fully [...]
SEOUL, August 1 (Korea Bizwire) — After a prolonged slump, South Korea’s commercial real estate market—including officetels and small buildings—is showing tentative signs of recovery following a recent easing of lending regulations. The government’s June 27 financial policy placed a 600 million won ($460,000) cap on home mortgage loans, but left commercial properties such as [...]
SEOUL, July 30 (Korea Bizwire) — POSCO Group said Wednesday it will establish a group-wide special safety task force to strengthen safety management across operations following a string of fatal industrial accidents at its sites. According to the group, the task force will be launched Friday and will report directly to Chairman Chang In-hwa. It [...]
SEOUL, July 15 (Korea Bizwire) — Apartment sales in Seoul have surged to a record-high share of the housing market in 2024, as concerns over rental fraud and weakening demand for non-apartment housing deepen a long-standing shift toward high-rise units. According to data released July 14 by South Korea’s Ministry of Land, Infrastructure and Transport, [...]
SEOUL, July 14 (Korea Bizwire) — A new report from the Korea Immigration Policy Institute reveals that over 78 percent of all workplace injuries suffered by foreign workers in South Korea in 2023 occurred in the construction and manufacturing sectors. According to the analysis, of the 8,434 work-related accident cases approved for industrial accident compensation [...]
SEOUL, June 27 (Korea Bizwire) — The financial authorities’ latest measures to restrict ballooning household debt are expected to help cool down the overheated housing market in Seoul’s sought-out areas, experts said Friday. The Financial Services Commission (FSC) announced earlier in the day that all local lenders will be forced to sharply lower their household [...]
SEOUL, June 24 (Korea Bizwire) — As South Korea moves to tighten emissions standards for new buildings, including private apartments starting later this month, policymakers are looking to timber-based construction as a viable path toward carbon neutrality in the housing sector. A new report from the Korea Land and Housing Corporation (LH) underscores the urgency [...]