SEOUL, Jun. 4 (Korea Bizwire) — Tower crane workers belonging to two major labor umbrella groups kicked off a nationwide strike Tuesday, calling for a pay raise and prohibition of the use of smaller tower cranes. The operation of around 2,500 tower cranes was suspended at construction sites, with the same number of unionized workers [...]
SEJONG, May 13 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker, POSCO, had the highest number of workplace fatalities among local builders last year, government data showed Monday. The Ministry of Land, Infrastructure and Transport said 10 workers died at construction sites run by POSCO E&C after [...]
SEOUL, Apr. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co. said it has completed construction of the new National Museum of Qatar, holding the museum’s opening ceremony on March 27. The new Qatar National Museum was built along the northern and southern parts of the old royal palace located in the central part of [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s Hyundai Heavy Industries Group is seeking to buy its smaller rival, Daewoo Shipbuilding & Marine Engineering, industry sources said Wednesday, in what could be a major shakeup in the sector. The country’s top shipbuilder is in talks with state-run Korea Development Bank (KDB), a creditor bank that [...]
SEOUL, Jan. 16 (Korea Bizwire) — IGIS Asset Management Co. shared a report on Tuesday which analyzes the backdrop and prospects of office sharing in the Seoul Metropolitan Area. According to the report, office sharing accounts for 90 percent of service-oriented office leases in Seoul. Commercial office space is typically divided into general office and [...]
SEOUL, Dec. 11 (Korea Bizwire) — Among all large-sized construction projects in South Korea, 44 percent are having trouble meeting deadlines ever since a 52-hour workweek was implemented. The Construction and Economy Research Institute of Korea (CERIK) conducted a study on 109 construction projects, 44 percent of which were facing difficulties meeting deadlines after the [...]
SEOUL, Dec. 5 (Korea Bizwire) — Local builders are resorting to early retirement plans and large-scale manpower reshuffles to weather a possible industry-wide slump going forward, people in the sector said Wednesday. Samsung C&T has been carrying out staff restructuring over the past two years and recently opened an early retirement package to employees who [...]
SEOUL, Nov. 16 (Korea Bizwire) — The Ministry of Transport and Infrastructure of Turkey announced that a canal project that has included Korean construction companies by request of Turkish President Recep Tayyip Erdoğan will be breaking ground next year. In an interview with local Turkish media Anadolu Agency, Turkey’s transportation minister yesterday revealed that the [...]
SEOUL, Nov. 1 (Korea Bizwire) — The South Korean government has established plans to create a system that utilizes smart construction technology by 2025 and to implement an automated construction system by 2030. This is according to the “smart construction technology roadmap” drawn up by the Ministry of Land, Infrastructure and Transport. Smart construction incorporates [...]
SEOUL, Oct. 19 (Korea Bizwire) — As a recent governmental measure aimed at curbing prices of real estate properties has made it more difficult for individuals to obtain loans to buy properties, there has been an increasing number of people who are placing successful bids for auctions of properties that are tendered under corporations. According [...]