INCHEON, Sept. 9 (Korea Bizwire) – More than one trillion won is expected to be invested in the ‘Golden Harbor Development’ project at Incheon’s Songdo International Business District. The Incheon Port Authority announced that they will sign an MOU with BizPost Korea, an affiliate of the American corporation BizPost, related to investment in the Golden [...]
SEOUL, Aug. 26 (Korea Bizwire) – “How about staging a fashion show where models walk the runway in clothes made at the Mallijae-gil sewing factories?” (Seoul Citizen, Hwang Se-hee) “A diving contest in which people jump off the overpass to an artificial pool that is only set in summer at the lower part of Manllidong [...]
GEOJE, Aug. 20 (Korea Bizwire) – Amid the rising concern over pleasant residential environments, the first apartment complex to be built directly adjacent to a golf course is coming to southeastern Geoje Island, the famous home of Korea’s largest shipyards. GS E&C announced that it would build an apartment complex with 783 households at Geoje [...]
SEOUL, July 29 (Korea Bizwire) – South Korea’s major shipbuilders, led by Hyundai Heavy Industries Co., logged worse-than-expected losses in the second quarter, largely due to the delivery of low-priced ships and a delay in the construction of loss-making offshore facilities, data showed Wednesday. The country’s big three shipyards racked up a combined loss of [...]
BUSAN, Jul. 7 (Korea Bizwire) — The city of Busan has changed Songdo Landfill’s development scheme to embrace a ratio of 80 percent residential buildings to 20 percent business-use buildings, from the current ratio of 50 to 50. With the change, buildings of more than 60 floors will be authorized for development at the site [...]
SEOUL, Jul. 2 (Korea Bizwire) — Lotte Group will develop a large resort complex at the North Port of Busan, said a high-ranking representative of the group on July 1. The company has filed a proposal for the development project with the Ministry of Culture, Sports and Tourism, which has received 34 proposals, including Lotte’s, [...]
SEOUL, June 12 (Korea Bizwire) – Samsung C&T Co., a construction and trading arm of Samsung Group, said Friday that it is seeking to delist its depositary receipts (DRs) traded on the British stock market in order to stem a possible lawsuit there by a U.S. hedge fund over its attempt to merge with its [...]
SEOUL, June 10 (Korea Bizwire) — Samsung C&T, the construction arm of Samsung Group, said Wednesday its plan to merge with the group’s de facto holding firm doesn’t hurt shareholders’ interests, refuting a U.S. hedge fund’s claim that the builder is undervalued. In late May, Samsung C&T unveiled the plan to merge with Cheil Industries in [...]
SEOUL, May 26 (Korea Bizwire) – Cheil Industries and Samsung C&T, two key affiliates of South Korea’s top conglomerate Samsung Group, said Tuesday they are planning to merge by the end of August. “Under the merger agreement, subject to approval from the two companies’ shareholders, Cheil Industries will acquire Samsung C&T by offering 0.35 new [...]
SEJONG, April 15 (Korea Bizwire) — South Korea on Wednesday began work to expand the capacity of a vehicle-only port that is designed to boost the country’s auto exports, the government said. The construction for a new vehicle-only quay began at the southwestern Pyeongtaek-Dangjin Port, according to the Ministry of Oceans and Fisheries. The construction [...]