SEOUL, Nov. 20 (Korea Bizwire) – Park Sam-koo, chairperson of Kumho Asiana Group, disclosed his plan to expand the group’s market share in Vietnam. To date, the group has invested approximately US$500 million in the South Asian country, focusing on airlines, construction, and tire production, and it is prepared to pay more to increase its [...]
SEOUL, Nov. 20 (Korea Bizwire) – Just as Chinese investors have increasingly invested in the Korean healthcare market, Korean companies are preparing to aggressively enter the Chinese medical market. The All H&B, the Korean organizer of a medical complex to be built in China, announced on November 18 that it signed an agreement with the [...]
SEOUL, Nov. 19 (Korea Bizwire) – Greenland Group, China’s largest real estate developer, is in talks to acquire a site near the Digital Media Center in Seoul’s Sangam-dong in the northwest following its buying spree in Jeju Island, reported the Seoul Economic Daily on November 18. By quoting an official of the Seoul metropolitan city [...]
SEOUL, Nov. 19 (Korea Bizwire) – Korea’s construction contractors are likely to see their business in building new residential cities overseas increase in the near future. The Ministry of Land, Infrastructure, and Transport said on November 18 that Korea Engineering Consultants Corporation won a project to design the blueprint for a new city building project in Bolivia. The project [...]
SEOUL, Nov. 19 (Korea Bizwire) – Hyundai Heavy Industries has completed the construction of the world’s largest containership capable of holding 19,000 twenty-foot containers. The company held a christening ceremony on November 18 at its Ulsan headquarters building, with China Shipping Group chairman Xu Lirong, China Shipping Container Lines president Zhao Hongzhou, Chinese Ambassador to Korea QiuGuohong, and Hyundai Heavy Industries [...]
SEOUL, Nov. 14 (Korea Bizwire) – Korean construction companies are in a slump in the Middle East as European contractors encroach upon their traditional bread-and-butter market. As construction orders from the Middle East are expected to dwindle, domestic contractors are asked to prepare strong countermeasures. European contractors recently put their utmost effort to win major [...]
SEOUL, Nov. 12 (Korea Bizwire) — The Korean Teachers Credit Union has joined hands with Wells Fargo of the United States to work together in the areas of overseas real estate and energy investment. The credit union said on November 10 that its executives met the top management of Wells Fargo in the bank’s San Francisco headquarters, [...]
SEOUL, Nov. 10 (Korea Bizwire) — A mid-sized Korean construction company has raised a lawsuit against the Chinese government for violating investment contract terms. This is the first time for a Korean firm to resort to the international investment dispute settlement mechanism to try to get compensation from the Chinese government. The Washington, D.C.-based International Center for [...]
SEOUL, Nov. 5 (Korea Bizwire) – An upscale open-street shopping mall will spring up along the Bangchuk Stream in the Sejong metropolitan autonomous city by 2017. The Multifunctional Administrative City Construction Agency said on November 3 that it signed land sale contracts with four final bidders. Since August this year, the agency has invited bidders to build [...]
SEOUL, Oct. 31 (Korea Bizwire) – From now on, large retail establishments such as discount outlets and department stores do not have to spend fortunes to replace their moving walks regularly. Lotte Mart said on October 30 that it has applied for a patent for an escalator and moving walkway pallet processed for extra traction for the first [...]