SEOUL, May 21(Korea Bizwire) — HD Hyundai Construction Equipment, a core subsidiary of HD Hyundai, has completed the transformation of its Ulsan plant into a next-generation smart factory designed to serve as a global production hub, the company announced Tuesday. At a ceremony held May 20 at its Ulsan campus, HD Hyundai Chairman Kwon Oh-gap, [...]
SEOUL, May 20 (Korea Bizwire) — As South Korea prepares to mandate zero-energy building (ZEB) standards for private apartment complexes by the end of June, major construction firms are racing to upgrade their building technologies to meet new government regulations aimed at reducing greenhouse gas emissions. The new rules, which will apply to all private buildings [...]
SEOUL, May 5 (Korea Bizwire) — South Korea’s production in the construction sector declined by the most in more than 26 years in the first quarter amid industry slumps and political uncertainty caused by former President Yoon Suk Yeol’s martial law bid, data showed Monday. The value of construction completed, a measure of production in [...]
SEOUL, May 5 (Korea Bizwire) — As modular construction rapidly gains global traction as a sustainable and efficient building method, South Korean construction firms and public agencies are scaling up investments and expanding the scope of projects from single-story homes to high-rise apartments. Modular construction—where prefabricated components are assembled on-site—offers a range of advantages including shorter [...]
PHOENIX, May 01, 2025 (Korea Bizwire) — WillScot Holdings Corporation (“WillScot” or the “Company”) (Nasdaq: WSC), a leader in innovative temporary space solutions, today announced that its Board of Directors has declared a quarterly dividend of $0.07 per common share. The cash dividend will be paid on June 18, 2025, to shareholders of record as of the [...]
SEOUL, April 20 (Korea Bizwire) — The number of unsold new homes in South Korea has reached the highest level in 11 years and five months, data showed Sunday, due mainly to weak demand for new homes in provincial regions. There were 23,722 unsold new apartments nationwide as of the end of February, doubling from [...]
SEOUL, April 18 (Korea Bizwire) — Daewoo Engineering & Construction Co. has signed a US$700 million framework agreement to build a fertilizer plant in Turkmenistan, Seoul’s industry ministry said Friday. The agreement was signed in Seoul with Turkmenistan’s state-owned chemical firm, Turkmenhimiya, according to the Ministry of Trade, Industry and Energy, noting the South Korean [...]
SEOUL, April 17, (Korea Bizwire) — In a significant move to stabilize the nation’s troubled real estate project financing (PF) market, South Korea’s National Assembly has approved a bill enabling Real Estate Investment Trusts (REITs) to engage not only in property investment but also in development and leasing projects. The Land, Infrastructure and Transport Committee’s [...]
SEOUL, April 10 (Korea Bizwire) — Hyundai Engineering & Construction announced Thursday the launch of South Korea’s first in-apartment meditation booths designed exclusively for individual use, a move aimed at enhancing mental wellness and emotional stability among residents. Branded as the H Calming Booth, the new feature will debut at Hillstate Homeasil, a Hyundai apartment [...]
SEOUL, March 28 (Korea Bizwire) — A new government report has revealed a growing polarization in housing among young South Koreans in their early 30s, with more individuals shifting either into monthly rentals or homeownership—while the once-dominant jeonse (lump-sum deposit lease) model continues to decline. Published Wednesday by Statistics Korea’s National Statistical Research Institute, the [...]