SEOUL, Jan. 12 (Korea Bizwire) — The government vowed Friday to step up the monitoring of the real estate project financing (PF) market amid potential insolvency risks and concerns as Taeyoung Engineering & Construction Co. won support from creditors to start a debt restructuring program. The midsized builder has received 96.1 percent of support from [...]
SEOUL, Jan. 12 (Korea Bizwire) – Troubled builder Taeyoung Engineering & Construction Co. has received 96.1 percent of support from creditors to move forward with a debt restructuring program, its main creditor said Friday. The level of support was higher than the 75 percent that Taeyoung was required to have for the debt rescheduling program, [...]
GIMPO, Jan. 12 (Korea Bizwire) – The city of Gimpo in Gyeonggi Province has decided to take legal action against a construction company, Y Construction, and its supervisory team for violating building height restrictions near Gimpo Airport, causing delays in apartment occupancy. The city announced on January 10 that it planned to file a complaint with [...]
SEOUL, Jan. 11 (Korea Bizwire) –Samsung C&T Corp., a major South Korean general trading firm and builder, said Thursday it has completed a 118-story skyscraper in Kuala Lumpur, the second-tallest building in the world. An opening ceremony was held Wednesday for Merdeka 118, a 679-meter-high complex building in the central part of the Malaysian capital, [...]
SEOUL, Dec. 28 (Korea Bizwire) — Ailing builder Taeyoung Engineering & Construction Co. applied for a debt-restructuring program Thursday to tide over a cash crunch, raising concerns over troubled peers in South Korea. Taeyoung E&C submitted the application to its main creditor, the state-run Korea Development Bank (KDB), after its board decided to request a [...]
SEOUL, Dec. 28 (Korea Bizwire) – On December 27, DL E&C announced the successful implementation of its groundbreaking D-Silence Service in an apartment complex located in Yeoncheon County, Gyeonggi Province. This innovative service, pioneered by DL E&C, marks a significant milestone as the first inter-floor noise notification system developed in Korea. In a country where most [...]
SEJONG, Dec. 21 (Korea Bizwire) – A recent study has revealed a significant degree of residential segregation in Seoul, characterized by distinct divisions between high-priced and low-priced housing areas. The Korea Research Institute for Human Settlements released these findings in its report titled ‘Residential Segregation by Housing Prices and Policy Implications,’ which utilized publicly announced housing [...]
SEOUL, Dec. 18 (Korea Bizwire) – A YouTube advertisement featuring the heartwarming tale of an excavator turned beloved pet has taken the online world by storm. Titled “My Ground Puppy Daebali,” the video ad was released by the construction equipment brand Develon, a subsidiary of HD Hyundai Infracore, in September. The video, a captivating human faux [...]
SEOUL, Dec. 18 (Korea Bizwire) – POSCO E&C is actively championing the significance of bees in safeguarding the global environment. In support of this cause, the company has crafted a series of animated videos addressing the critical issues of bee extinction and the severity of the garbage problem. Titled “Green Earth Guard Eco-Ranger,” the animated series, [...]
SEOUL, Dec. 14 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Thursday it has won a deal from a construction company in Saudi Arabia to supply 100 excavators. Under the deal, the construction equipment unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group plans to supply 70 units of its 22-ton excavators and 30 [...]