SEOUL, Oct. 16 (Korea Bizwire) – Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries, the top shipbuilders in the country, are struggling from lack of work caused by falling demand for new vessels. According to recent industry data, however, that could change in the not-too-distant future thanks to a projected rise [...]
SEOUL, Sept. 28 (Korea Bizwire) – The government has decreed that as of September 27, all construction of public works will be legally required to use recycled aggregate. By doing so, the government expects natural aggregate usage to drop by 382 million tons while generating 37.5 billion won in various societal benefits. “Aggregate” is an [...]
SEOUL, Sept. 22 (Korea Bizwire) — POSCO Engineering & Construction Co. said Friday it has broken ground for two high rises in a central business district in Jakarta. The construction arm of South Korea’s top steelmaker POSCO said the buildings will be constructed at a cost of about US$300 million. The buildings are scheduled to [...]
SEOUL, Sept. 21 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Thursday that it has clinched a 927 billion won (US$818 million) deal to build five container vessels. In a regulatory filing, Daewoo Shipbuilding said it will deliver the vessels by March 15, 2020. The shipbuilder did not reveal [...]
SEJONG, Sept. 14 (Korea Bizwire) – Glimpses of the future – 57 to be exact – were distributed by the Ministry of Land, Infrastructure and Transport to regional (metropolitan, provincial and special) governments on September 14. President Moon’s “New Deal”, a promise of urban renewal, was one of his core campaign proposals, and the 57 [...]
SEOUL, Sept. 4 (Korea Bizwire) – South Korean builders’ business confidence touched a 19-month low in August due mainly to government measures to cool the housing market, a poll showed Monday. The construction business survey index (CBSI) stood at 74.2 last month, down 11.2 points from the previous month and at its lowest level since [...]
SEOUL, Aug. 30 (Korea Bizwire) – A new international cruise terminal will be completed at the eastern port of Sokcho this week to accommodate a growing number of travelers coming to Korea through the coastal city, the oceans ministry said Wednesday. The port will be fully completed on Thursday with the commemorative ceremony scheduled for [...]
SEOUL, Aug. 7 (Korea Bizwire) — Daewoo Engineering & Construction Co., a major South Korean builder, said Monday that it has clinched a US$963 million deal to build process units of refinery facilities in Oman. Under the deal with Duqm Refinery Petrochemical Industries Co., a joint venture between Daewoo Engineering and Tecnicas Reunidas of Spain [...]
SEOUL, Aug. 6 (Yonhap) — SK Engineering & Construction Co., a South Korean builder, said Sunday that it has signed a US$1.6 billion deal with an Iranian company to carry out an oil refinery modernization project. Under the agreement with Tabriz Oil Refining Co., an affiliate of Parsian Oil and Gas Development Group Co., the [...]
SEOUL, Aug. 6 (Korea Bizwire) — Daewoo Engineering and Construction revealed on August 3 that it had, for the first time in the industry, developed a phased customized technology named ‘5ZCS’ (Five Zones Clean Air System) to filter fine dust at its new apartment complexes. The company has divided its new apartment complexes into five [...]