SEJONG, Jan. 5 (Korea Bizwire) - South Korea’s antitrust watchdog said Tuesday that it has fined six local cement makers a combined 199.4 billion won (US$167.6 million) for fixing the prices of cement products and divvying up the market. According to the Fair Trade Commission (FTC), cement companies have allegedly colluded to rig the prices of [...]
SEOUL, Dec. 16 (Korea Bizwire) - Ssangyong Engineering & Construction Co., a South Korean builder, said Wednesday it has clinched US$1.6 billion worth of orders to construct a luxury hotel, as well as apartment and office buildings, in Dubai. Ssangyong E&C said that it will lead the construction of a 47-story hotel and a 37-story apartment [...]
SEOUL, Nov. 23 (Korea Bizwire) - Hyundai Engineering & Construction Co., a South Korean builder, said Monday that it has won a US$727 million deal to build a power station in Indonesia. The deal signed with CEPR, a local energy facility operator, called for Hyundai E&C along with Hyundai Engineering Co. to build a 1,000-MW coal-fired [...]
SEOUL, Nov.9 (Korea Bizwire) – The Seoul Metropolitan Government has stepped up to help prevent accidents in the workplace among foreign workers who are unfamiliar with the Korean language. City officials announced that they will be providing safety education for 210 foreign workers from five different countries – Vietnam, Cambodia, Thailand, Myanmar, and Bangladesh. Safety [...]
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, [...]