SEOUL, Aug. 29 (Korea Bizwire) — Hyundai Engineering & Construction Co. (Hyundai E&C), South Korea’s No. 2 builder, has placed 11th among global construction companies in terms of overseas sales, an industry report showed Tuesday. Hyundai E&C posted US$6.83 billion in overseas sales in 2022, up 18.6 percent from a year earlier and the 11th-largest [...]
SEOUL, Aug. 27 (Korea Bizwire) — The land ministry said Sunday it will push for a 10-month business suspension for GS Engineering & Construction Corp. over the collapse of a parking garage earlier this year. On April 29, the roof of an underground parking garage at an apartment complex collapsed while being built by the [...]
SEOUL, Aug. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co., South Korea’s No. 2 builder, said Tuesday it has bagged a US$145 million order to lay power transmission lines in Saudi Arabia. The deal, signed with a Saudi state power company, calls for building 207 kilometers of a 525-kilovolt, 605-km transmission line between Saudi [...]
SEOUL, July 28 (Korea Bizwire) — Daewoo Engineering & Construction Co. and SK ecoplant Co., two major builders in South Korea, said Thursday they have signed a memorandum of understanding to enhance cooperation on nuclear power plant projects. According to the terms of the MOU, the two parties will exchange technology and personnel. They will [...]
SEOUL, July 25 (Korea Bizwire) — HD Hyundai Infracore is poised to make an unusual move in the industry as it introduces the 1.7-ton Develon mini excavator (DX17Z-7) on TV home shopping for the very first time. This groundbreaking event, scheduled for July 31, is a rare occurrence not only in Korea but also worldwide. [...]
SEOUL, July 13 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it has made an equity investment of US$7.5 million in CarbonCure, a Canadian carbon dioxide removal tech company. Along with the investment, the two companies have also signed a business agreement. Founded in 2012, CarbonCure has developed a [...]
SEOUL, July 7 (Korea Bizwire) — GS Engineering & Construction Co.’s decision to reconstruct the apartment complex, where an underground parking lot collapsed, is known to be driven by the determination of its top management, industry sources said Thursday. The company initially issued a written apology after the Ministry of Land, Infrastructure, and Transport briefed [...]
SEOUL, June 28 (Korea Bizwire) — Hyundai Engineering Co. said Tuesday it held a completion ceremony for South Korea’s tallest modular apartment building, located in Yongin, Gyeonggi Province. Modular buildings are constructed by pre-producing primary construction materials in a factory and assembling them on-site. The 13-story building comprises 106 homes. According to the Building Act, [...]
SEOUL, June 26 (Korea Bizwire) — Construction orders in South Korea are likely to slump nearly 13 percent on-year in 2023 due to less government spending on infrastructure and a sluggish housing market, a think tank said Monday. Local builders’ orders are predicted to decline 12.9 percent from a year earlier to 200.1 trillion won [...]
SEOUL, April 13 (Korea Bizwire) —GS E&C, the owner of the Xi apartment brand, is expanding into the single-family home market. The company announced on Thursday that its subsidiary, XiGEIST, which specializes in wooden modular houses, will launch its website and commence business-to-consumer (B2C) sales in earnest. The modular houses are produced in a factory [...]