SEOUL, June 26 (Korea Bizwire) — Construction orders in South Korea are likely to slump nearly 13 percent on-year in 2023 due to less government spending on infrastructure and a sluggish housing market, a think tank said Monday. Local builders’ orders are predicted to decline 12.9 percent from a year earlier to 200.1 trillion won [...]
SEOUL, June 22 (Korea Bizwire) — South Korean builders are enhancing on-site management and establishing work standards to better prepare for the scorching summer heat. Hyundai Engineering & Construction Co. has implemented a policy that requires field workers to take regular rest breaks and halt outdoor work when the perceived temperature exceeds 35 degrees Celsius. [...]
SEOUL, Jan. 10 (Korea Bizwire) — Overseas construction orders clinched by South Korean builders topped the US$30 billion mark for the third straight year in 2022 as the global economy slowly recovered from the fallout of the pandemic, data showed Tuesday. Local builders secured a combined $31 billion worth of construction orders last year, up [...]
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 [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean construction companies’ sales dropped on-year in 2020 for the first time in 21 years due to the coronavirus pandemic, government data showed Thursday. The combined top line of local builders reached 396.9 trillion won (US$336 billion) last year, down 1.1 percent from the previous year, according to [...]
SEOUL, Oct. 8 (Korea Bizwire) — An increasing number of apartment complexes are providing concierge services that perform daily chores on behalf of residents, while providing a variety of living conveniences. For the residents of the Gwanggyo IPARK apartment complex in Suwon, Gyeonggi province, built by HDC Hyundai Development Co., robots bring ordered delivery food [...]
SEOUL, May 12 (Korea Bizwire) — South Korea’s construction companies are moving into the waste processing business by acquiring a string of waste processing companies. As the waste processing market grows at a blistering pace with the amount of waste increasing sharply since the outbreak of the COVID-19, they are attempting to develop the waste [...]
SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]
SEOUL, Nov. 23 (Korea Bizwire) — Branding, among others, may be one of the key selling points for a product, and that’s why South Korean builders are in sync in launching luxury apartment brands, or renewing their brand identities for high-end consumers amid deepening polarization in the local housing market. Lotte Engineering & Construction Co. [...]
SEOUL, Nov. 3 (Korea Bizwire) — South Korean builders are likely to fall short of their annual overseas order targets this year, analysts said Sunday, amid concerns over a slowdown in the global economy sparked by the U.S.-China trade dispute. As of the end of October, South Korean construction companies amassed $17.68 billion worth of [...]