SEOUL, Dec. 29 (Korea Bizwire) – The government said Wednesday that it plans to spend 4.22 trillion won (US$3.48 billion) to upgrade seaport facilities and strengthen logistics functions on the country’s southern resort island of Jeju and the eastern port city of Donghae. According to the Ministry of Ocean and Fisheries, a total of 2.45 [...]
SEOUL, Dec. 26 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Monday that it has won an order, potentially worth over 2.7 trillion won (US$2.25 billion), to build two thermal power plants in India. The company has yet to officially sign the deal but said it has [...]
SEOUL, Dec. 21 (Korea Bizwire) – The population of the South Korean capital has been declining for the past five years. As of last month, the number of Seoul-registered residents was a little over 9.95 million. But interestingly, the amount of human waste – that is, feces and urine – generated in the city has [...]
SEOUL, Dec. 16 (Korea Bizwire) – All newly-built houses in South Korea will be equipped with earthquake-resistant structures starting in the second half of next year under the government’s comprehensive measures against the natural disaster, a related ministry announced Friday. The government has also decided to pour 2.8 trillion won (US$2.3 billion) by 2020 to [...]
SEJONG, Dec. 15 (Korea Bizwire) – The home ownership rate in South Korea came to 56 percent in 2015, data showed Thursday. According to the annual data by Statistics Korea, 10.06 million households out of 19.11 million in the country owned homes as of Nov. 1, 2015. The latest data indicated that 44 percent of [...]
SEOUL, Dec. 2 (Korea Bizwire) – The U.N. Security Council imposed new sanctions this week on North Korea, putting a stricter cap on the country’s exports of coal as well as copper, nickel, silver, and zinc. Interestingly, the sanctions also include exports of statues, apparently one of the key sources of income for North Korea, [...]
SEOUL, Nov. 28 (Korea Bizwire) – It would take more than 38 years for the young generation of today to save enough money be able to buy an apartment in the capital, if they save all of their disposable income, statistics showed Monday. The average monthly disposable income for people 39 years old or under [...]
SEOUL, Nov. 25 (Korea Bizwire) – Daelim is set to become the first local construction firm to make use of sound design in an apartment complex. Sound design refers to the process of specifying, manipulating, and producing sound elements to achieve a specific effect or mood. Although it is most associated with sound recording and [...]
DAEJEON, Nov. 21 (Korea Bizwire) – Korean President Park Geun-hye’s ambitious election pledge to reinitiate the project to establish a Universal Studios theme park in Hwaseong, Gyeonggi Province, is again facing dissolution amid the ongoing political scandal engulfing her presidency. According to the Korea Water Resources Corporation (K-Water) and Universal Studios Korea, which are overseeing [...]
SEOUL, Nov. 7 (Korea Bizwire) – The government announced Sunday a revision to its Rules on Housing Supply, to include fetuses and adoptees as part of its ‘multi-child special housing supply’ program. The program was designed to promote child birth with Korea’s fertility rate stuck among the lowest in the world, and gives priority in [...]