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 [...]
SEOUL, Sept. 10 (Korea Bizwire) – The disparities in South Korea’s apartment market are becoming increasingly pronounced, with a widening gap between the capital region and other parts of the country, according to a recent report on real estate auctions. Data released on September 9 by GG Auction, a specialist in foreclosure and public auction information, [...]
SEOUL, Sept. 10 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Tuesday it has completed building a fiber optic cable plant in Kuwait to expand into the Middle East market. Under a partnership with local builder Rank General Trading and Contracting Co., Taihan Cable has built the plant, the [...]
SEOUL, Sept. 5 (Korea Bizwire) – A new study has revealed the stark reality of homeownership in South Korea’s capital, where the average family would need to save their entire income for over a decade to afford a mid-priced apartment. According to data from KB Real Estate Data Hub released on September 3, a household with [...]