SEOUL, Feb. 17 (Korea Bizwire) — Amid a real estate market downturn, South Korea’s major construction companies are grappling with surging construction costs that have pushed their cost-to-sales ratios above 90%, triggering disputes and lawsuits over cost increases between builders and project owners. According to industry sources, among top-ranked construction companies, Hyundai Engineering & Construction and [...]
SEOUL, Feb. 14 (Korea Bizwire) — As discussions of potential peace negotiations between the United States, Russia, and Ukraine gain momentum, South Korean companies are positioning themselves to participate in what could become one of the largest reconstruction efforts in modern history. Estimates have pegged the cost of rebuilding Ukraine’s war-torn infrastructure at approximately $900 billion, [...]
SEOUL, Feb. 5 (Korea Bizwire) - The South Korean government is advancing plans to export integrated power plant and grid systems through public-private partnerships, despite growing market uncertainties surrounding the new Trump administration in the United States. The Ministry of Trade, Industry and Energy announced these plans on February 4 during the kickoff meeting of the [...]
SEOUL, Jan. 30 (Korea Bizwire) — Samsung Display Co., a panel manufacturing unit of Samsung Electronics Co., said Thursday its new office building has received top ratings from a U.S. green building certification system for its energy efficiency and eco-friendly design. Samsung Display Research, the company’s newly built headquarters in Giheung on the southern outskirts [...]
SEOUL, Jan. 21 (Korea Bizwire) — Korean manufacturers of power equipment and electrical cables are strengthening their foothold in the United States as demand surges for grid infrastructure upgrades, driven by artificial intelligence and data center expansion. HD Hyundai Electric announced on January 20 its plans to invest 185 billion won to construct a second manufacturing [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s leading construction company, Samsung C&T, has secured the rights to develop the Hannam District 4 redevelopment project, outbidding its rival Hyundai Engineering & Construction and marking its entry into the Hannam New Town development project. The win positions Samsung C&T favorably for future landmark projects, including the highly [...]
SEOUL, Jan. 16 (Korea Bizwire) — The Ministry of Environment announced on January 15 that it has revised guidelines to extend government support for the removal of asbestos-containing slate roofing to small facilities serving the elderly and children. Slate roofing materials, which were widely used in the 1960s and 1970s, contain 10-15% asbestos, a Class 1 [...]
SEOUL, Jan. 10 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-largest cable company, said Friday it has received a 100 billion-won (US$68.6 million) extra high-voltage cable order in Britain. Taihan Cable has obtained the deal from Balfour Beatty plc, a London-based infrastructure construction contractor, to supply 400 kilovolt high-voltage cables and cable [...]
SEOUL, Jan. 7 (Korea Bizwire) — The construction sector in South Korea is on edge after Shindongah Construction, a mid-sized builder known for its “Famille” housing brand, filed for court-led rehabilitation on January 6. The company, ranked 58th in construction capability evaluations, is the largest in its tier to take this step amid a worsening [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korean builders have achieved more than US$1 trillion in accumulated overseas construction deals, the transport ministry said Friday. The achievement comes 59 years after Hyundai Engineering & Construction Co. obtained its first overseas deal to build an expressway in Thailand in November 1965. Local builders secured $32.69 billion [...]