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 [...]
SEOUL, June 19 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Thursday it has signed a memorandum of understanding (MOU) with Indonesia’s Hasnur Group as part of efforts to strengthen its presence in the rapidly growing Indonesian mining market. Under the partnership, the two sides plan to cooperate in areas of mining equipment supply, [...]
SEOUL, June 19 (Korea Bizwire) — The Bank of Korea has warned that continued efforts to stimulate construction investment through non-capital region housing projects may be exacerbating the nation’s widening housing market divide, rather than resolving it. In a report released Wednesday, the central bank argued that building new homes in low-demand regions outside the [...]
SEOUL, June 18 (Korea Bizwire) — The Bank of Korea has raised alarm over South Korea’s persistently high cost of essential goods, warning that it is outpacing both inflation and global averages, and is stifling consumer spending—particularly among low-income households. In a report released Wednesday, the central bank found that from the onset of the [...]