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More than 3,000 High-priced Apartment Transactions Under Investigation for Illegalities

More than 3,000 High-priced Apartment Transactions Under Investigation for Illegalities

SEOUL, March 3 (Korea Bizwire) — A large number of high-priced apartment transactions using legally dubious methods have been uncovered. The Ministry of Land, Infrastructure and Transport said Wednesday it had investigated transactions of high-priced apartments with a value of more than 900 million won (US$747,630) made during the period from March 2020 to June [...]

POSCO E&C Develops Customizable Apartment Ventilation System with Negative Pressure Function

POSCO E&C Develops Customizable Apartment Ventilation System with Negative Pressure Function

SEOUL, Feb. 24 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker POSCO, said Wednesday it had developed an apartment ventilation system designed to enable management of air quality for each of an apartment’s rooms and featuring a negative pressure function. Existing apartment ventilation systems remove fine dust [...]

Public Voices Grow in Support of ‘Post-Construction Sale System’ After Gwangju Apartment Building Collapse

Public Voices Grow in Support of ‘Post-Construction Sale System’ After Gwangju Apartment Building Collapse

SEOUL, Jan. 21 (Korea Bizwire) — Public voices are growing in support of a ‘post-construction sale system’ after fraudulent construction was pointed out as the cause of the partial apartment building collapse in Gwangju last week. Major online real estate communities have recently been flooded with a large number of comments supporting the introduction of [...]

HDC Apartments Flood Real Estate Market Following Gwangju Apartment Building Collapse

HDC Apartments Flood Real Estate Market Following Gwangju Apartment Building Collapse

SEOUL, Jan. 19 (Korea Bizwire) — HDC Hyundai Development Co.’s apartment brand ‘IPark’ is facing rising safety concerns following the recent collapse of an apartment building. On Jan. 11, the facade on a 39-story apartment building crumbled to the ground at its construction site in Gwangju, about 330 kilometers southwest of Seoul, killing at least [...]

Artworks Draw Attention from Builders amid Wave of Apartment Gentrification

Artworks Draw Attention from Builders amid Wave of Apartment Gentrification

SEOUL, Jan. 13 (Korea Bizwire) — There is a significant buzz around art in the construction industry on the back of the gentrification of apartment complexes. In collaboration with the artwork platform ‘Open Gallery,’ construction company Hyundai Engineering Co. developed an artwork subscription service for the communal areas of apartments last month. This service allows [...]

Conflicts Deepen over Apartment Complexes Being Built Near Royal Tombs

Conflicts Deepen over Apartment Complexes Being Built Near Royal Tombs

SEOUL, Dec. 17 (Korea Bizwire) — Conflicts are flaring up over new apartment complexes that are being built within the cultural heritage conservation area around a site of royal tombs from the Joseon Dynasty in Gimpo, west of Seoul. The Cultural Heritage Administration (CHA) issued a work suspension order for the construction of the apartment [...]

Homebuyer Preferences Change Following Onset of COVID-19 Pandemic

Homebuyer Preferences Change Following Onset of COVID-19 Pandemic

SEOUL, Nov. 17 (Korea Bizwire) — Potential homeowners first look at the architectural plans of the home prior to purchase, a survey showed Tuesday. Fides Development Co. and four other local real estate developers conducted a survey of 1,000 homeowners in the greater Seoul area, 22.9 percent of whom picked ‘architectural plans’ as the most [...]

Hyundai E&C Introduces ‘Home to Car – Car to Home’ Service

Hyundai E&C Introduces ‘Home to Car – Car to Home’ Service

SEOUL, July 22 (Korea Bizwire) — Hyundai Engineering & Construction Co., a major builder in South Korea, said Wednesday that in collaboration with Hyundai Motor Group, it will introduce a ‘Home to Car – Car to Home’ service using built-in sound recognition devices. The service uses Hyundai E&C’s ‘Voice Home’ built-in sound recognition system that [...]