SEOUL, Oct. 11 (Korea Bizwire) – South Korea has the world’s second-fastest construction time of nuclear reactors after Japan, a report from the U.N. nuclear watchdog showed Tuesday, but Seoul’s atomic energy provider said the short period doesn’t affect their safety. According to the report by the International Atomic Energy Agency, South Korea has built [...]
GOYANG, South Korea, Oct. 7 (Korea Bizwire) – Gyeonggi’s Provincial Government announced Thursday that it will be establishing a smart apartment complex that will help residents boost energy sufficiency. The endeavor will incorporate energy efficiency and information and communications technologies, with some 1,000 households at the Hoban Vertium Apartment Complex in Goyang benefiting from the [...]
SEOUL, Oct. 4 (Korea Bizwire) – Thirty years after its site was selected, Korea’s (and the OECD’s) tallest building yet, Lotte World Tower, has finally seen the completion of its exterior structure. With only the finishing touches remaining, construction is expected to wrap up on December 22. Located in Jamsil, a neighborhood in southeast Seoul’s [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korea will control the supply of new apartments in a bid to curb demand for mortgage loans, the main culprit for soaring household debt in Asia’s fourth-largest economy, government officials announced Thursday. Household credit jumped 11.1 percent on-year to an all-time high of 1,257.3 trillion won (US$1,123.5 billion) [...]
SEOUL, July 15 (Korea Bizwire) – The Bank of Korea (BOK) revealed on July 15 its ‘Adequacy Analysis of Recent Investment in Construction’ included in the Economic Outlook Report of July 2016, which showed serious concerns regarding the government’s economic stimulus plan focused on the construction industry. The BOK pointed out that Korea is following in the [...]
BUSAN, July 6 (Korea Bizwire) – A 5.0-magnitude underwater earthquake with an epicenter only 52km off the coast of Ulsan was detected Tuesday night at 8:33 p.m. Although no casualties or damages resulted from the event, the tremor was sensed across the nation, and citizens in Ulsan and nearby regions panicked as they felt the ground [...]
SEOUL, July 6 (Korea Bizwire) – Another sinkhole (one meter wide and two meters deep) has formed near the new Lotte World Tower, the latest landmark skyscraper in Seoul. Lotte World Tower is a 123-floor skyscraper in Jamsil, Songpa District, and is currently in the final stages of construction. The tower has received widespread public [...]
SEOUL, June 27 (Korea Bizwire) – As the city of Seoul has recently established a ‘Seoul Resident Grievance Center’ at the Seosomun local government office to resolve conflicts between residents due to inter-floor noise in apartment buildings, the construction industry is also coming up with specialized designs to minimize the transmission of noise between floors. According [...]
SEOUL, June 21 (Korea Bizwire) – With an increasing number of consumers who have grown more careful and rational in their spending, newly-built apartments are offering various common facilities and services to reduce consumer burdens and maximize convenience. Hyundai Engineering & Construction has implemented a car-sharing service at its latest apartment complex, Hill State Dongtan, [...]
SEOUL, June 17 (Korea Bizwire) – While investigations into Lotte Group, one of Korea’s top five conglomerates, regarding slush funds are marring its reputation, the “skyscraper curse”, a popular belief that a country or a company that constructs a skyscraper eventually confronts a mishap, is in the public eye. Construction on the second Lotte World (Lotte [...]