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Seoul Has Second-Fastest Nuke Plant Construction Time Worldwide

Seoul Has Second-Fastest Nuke Plant Construction Time Worldwide

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 [...]

Gyeonggi to Build Energy-Efficient Smart Apartment Complex

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 [...]

Gov’t to Curb Household Debts by Shrinking New House Supplies

Gov’t to Curb Household Debts by Shrinking New House Supplies

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) [...]

BOK Warns Economic Stimulus Too Focused on Construction Industry

BOK Warns Economic Stimulus Too Focused on Construction Industry

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 [...]

Korea Questioning Building Safety after 5.0-Magnitude Earthquake

Korea Questioning Building Safety after 5.0-Magnitude Earthquake

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 [...]

Specialized Design to Reduce Inter-Floor Noise in Apartment Buildings

Specialized Design to Reduce Inter-Floor Noise in Apartment Buildings

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 [...]

Korean Apartments Offer Residents New Types of Common Facilities and Services

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, [...]

Lotte World Tower Another Skyscraper Curse?

Lotte World Tower Another Skyscraper Curse?

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 [...]