SEOUL, July 12 (Korea Bizwire) — The value of unreturned deposits for “jeonse” home rentals is increasing year after year, hitting an all-time high in the first half of this year, data showed Monday. Under South Korea’s decades-old jeonse system, tenants pay a large lump-sum deposit, known as key money, to the landlord, which [...]
SEOUL, June 23 (Korea Bizwire) — South Korean builder SK ecoplant Co. has formulated a blueprint aimed at developing and applying digital solutions and platforms for its environment business to upgrade it into a new energy business. The company recently signed a strategic partnership agreement with Amazon Web Service (AWS) Korea, the local cloud-computing service [...]
GWANGJU, June 4 (Korea Bizwire) — Police transferred a top official of HDC Hyundai Development Co. to the prosecution Friday, wrapping up an investigation into the fatal collapse of an apartment building under construction in the southwestern city of Gwangju in January. Outer wall structures of the 39-story building in the city, 330 kilometers south [...]
SEOUL, May 4 (Korea Bizwire) — HDC Hyundai Development Co. said Wednesday it will demolish an apartment complex in South Korea’s southwestern area to build it all over again to ally safety concerns. HDC Chairman Chung Mong-gyu said the real estate developer will completely take down eight apartment buildings in Gwangju for reconstruction at the [...]
SEOUL, April 13 (Korea Bizwire) — The Seoul city government on Wednesday imposed an additional eight-month business suspension on HDC Hyundai Development Co. over a deadly building demolition project that claimed nine lives in June of last year. The latest administrative measure came after the company was slapped with an eight-month business suspension order on [...]
SEOUL, March 30 (Korea Bizwire) – The Seoul city government on Wednesday imposed an eight-month business suspension on HDC Hyundai Development Co. over a deadly building demolition project that claimed nine lives in June of last year. The order was issued at the request of the land ministry following an investigation into the accident in [...]
SEOUL, March 28 (Korea Bizwire) — The government on Monday sought the cancellation of HDC Hyundai Development Co.’s business registration in what could be the heaviest punishment against the builder over a deadly partial collapse of a high-rise building. Outer wall structures of the 39-story apartment building under construction in the city, 330 kilometers south [...]
SEOUL, March 21 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Monday it has started the process of its initial public offering, slated for the first half of next year. SK ecoplant, a unit of SK Group, South Korea’s third-largest conglomerate, said it had sent invitations to major domestic and overseas brokerage houses [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker POSCO, said Wednesday it had developed an apartment ventilation system designed to enable management of air quality for each of an apartment’s rooms and featuring a negative pressure function. Existing apartment ventilation systems remove fine dust [...]
SEOUL, Jan. 19 (Korea Bizwire) — HDC Hyundai Development Co.’s apartment brand ‘IPark’ is facing rising safety concerns following the recent collapse of an apartment building. On Jan. 11, the facade on a 39-story apartment building crumbled to the ground at its construction site in Gwangju, about 330 kilometers southwest of Seoul, killing at least [...]