SEOUL, July 9 (Korea Bizwire) – Hong Myung-bo, who has been under fire for South Korean football team’s disappointing performance in the Brazil World Cup games, now faces another public uproar due to an issue not related to soccer: his alleged speculative investment on a real estate property. According to a stream of local reports, it [...]
SEOUL, July 6 (Korea Bizwire) –Global IT firms have increasingly settled down in Gangnam district of Seoul, which has struggled with a growing vacancy rate due to the existing tenants’ relocating to other popular business towns such as Pangyo or Gangbuk regions. Over the past year, the number of international firms relocated to Gangnam has [...]
SEOUL, July 5 (Korea Bizwire) – China’s renewed interest in investment opportunities in South Korea is driving surging investment growth in the east Asian neighboring country. The world’s second-largest economy especially has keen interest in Korea’s major projects largely located in western areas which include Saemangeum reclamation project, Incheon Free Economic Zone and Gyeonggi Province, much closer [...]
SEOUL, July 5 (Korea Bizwire) – South Korean companies’ overseas project investments are more likely to be accelerated as the nation’s official export credit agency has decided to make its first-ever equity investment in a Korean consortium-led privately-funded power plant in overseas market. The Export-Import Bank of Korea (Korea Eximbank) announced on July 3 that it [...]
SEOUL, July 4 (Korea Bizwire) – Beginning in November this year, construction contractors with no record of administrative sanctions will get privileges when they try to get approval for business expansion. The Ministry of Land, Infrastructure, and Transport said on July 3 that it would pre-announce an “enforcement ordinance and regulation on the construction industry basic law” [...]
SEOUL, July 4 (Korea Bizwire) – For the ongoing land reclamation project in Saemangeum area in the southwest, the Korean government decided to enlist foreign companies to have the right to develop the reclaimed land and allow the developers to resell less than 50 percent of the land. Currently, the development project for the reclaimed land [...]
SEOUL, July 3 (Korea Bizwire) – LG Chem will build an electric vehicle battery plant in China’s Nanjing, the third plant after Cheongju (Korea) and Holland (Michigan, U.S.). The company held a signing ceremony at its LG Twin Tower in Yoido, Seoul, on July 2 with high-ranking officials from the Nanjing city government. The ceremony was attended [...]
SEOUL, June 26 (Korea Bizwire) –As the Fair Trade Commission pressures the construction contractors ever harder for colluding in biddings, the total bill for penalties for the past two years has surpassed 450 billion won. Accordingly, some contractors with poor results this year had to pay fines in excess of their profits. According to construction industry [...]
SEOUL, June 24 (Korea Bizwire) – The real estate market of Korea lights up with the news that an immigration policy linked to real estate investment will now include investment in unsold apartment units in addition to resort properties in free economic zones. A legal provision on immigration related to real estate investment grants permanent residency [...]
SEOUL, June 21 (Korea Bizwire) – The corporate social responsibility (CSR) activities of domestic companies become increasingly crucial as South Asian and Southeast Asian countries centering on India ask them to expand the CSR activities. For example, India enforced a law making CSR activities compulsory for large companies last April. According to the law, companies [...]