This undated file photo shows an apartment building construction site in Seoul. (Yonhap)
SEOUL, March 14 (Korea Bizwire) — South Korean construction firms are turning towards new ventures in the environment and energy sectors amid worsening profitability in the housing market.
SK Ecoplant Co., which underwent a corporate name change from SK Engineering & Construction Co. in 2021, is pursuing new ventures such as waste battery recycling, bio energy and digital-based waste solutions.
Samsung C&T Corp., which in 2020 was the first non-financial company in South Korea to declare itself coal-free, is now engaged in new ventures such as solar power engineering, procurement and construction (EPC), small modular reactor (SMR), green hydrogen production infrastructure and modular business.
To expand its eco-friendly carbon-free business, DL E&C Co. set up a specialized firm called CARBONCO and is spurring its drive in carbon capture and storage (CCS).
“For construction companies with existing EPC capabilities, energy and environment-related ventures are one of the areas that can be easily entered,” an official at a local builder said.
Meanwhile, GS Engineering & Construction Corp. made forays into the global seawater desalination and bio wastewater treatment markets on the back of its Spanish subsidiary GS Inima Environment S.A.
J. S. Shin (js_shin@koreabizwire.com)
