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 [...]
SEOUL, June 18 (Korea Bizwire) — Housing prices in Seoul and non-capital regions have diverged further in recent years amid ongoing economic and social changes, and the government is advised to avoid stimulating construction investment through additional housing supply in non-capital areas, the central bank said Wednesday. The gap in cumulative housing price increases between [...]
DAEJEON, South Korea, June 12 (Korea Bizwire) — A surge of green algae in Daejeon’s three main rivers — the Gapcheon, Yudeungcheon, and Daejeoncheon — has sparked criticism from environmental groups, who argue the bloom is a direct result of large-scale dredging operations carried out in recent years. In a joint statement released Wednesday, the Green [...]
SEOUL, May 30 (Korea Bizwire) — Hyundai Engineering & Construction (Hyundai E&C) Co. said Friday it will withdraw from a national project to build a new international airport in South Korea’s southeastern port city of Busan, citing difficulties in meeting the completion deadline sought by the government. “It is impossible to ensure a safe construction [...]
SEOUL, May 29, 2025 (Korea Bizwire) — With forecasts pointing to another record-breaking heatwave this summer, South Korea’s construction industry is ramping up health and safety measures to protect outdoor workers from heat-related illnesses. Major construction firms have begun implementing advanced heat-response protocols ahead of new amendments to the Industrial Safety and Health Act, set [...]
SEOUL, May 29 (Korea Bizwire) — The South Korean government has launched a major initiative to develop core technologies for robot-friendly buildings, aiming to reshape the urban built environment for seamless human-robot coexistence. The Ministry of Land, Infrastructure and Transport announced Wednesday that it will invest ₩180 billion (approximately $135 million) over the next three [...]
SEOUL, May 26 (Korea Bizwire) — South Korea’s Ministry of Employment and Labor revealed on Sunday that the highest starting monthly salary among holders of national technical licenses in 2025 was earned by certified concrete engineers, who reported a median entry-level wage of 4.2 million won ($3,100). The findings, based on a big data analysis jointly [...]
SEOUL, May 23, 2025 (Korea Bizwire) – For the first time, the number of construction engineers aged 60 and older in South Korea has surpassed those in their 40s, signaling an accelerating demographic shift in the country’s construction sector. According to a report released Thursday by the Korea Construction Policy Institute, as of February 2025, 277,432 [...]