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Builders Win US$10 Bln in Orders from Middle East in Jan.-May

Builders Win US$10 Bln in Orders from Middle East in Jan.-May

SEOUL, Jun. 11 (Korea Bizwire) — Domestic construction companies’ combined orders from the Middle East amounted to nearly US$10 billion so far this year, recording stellar growth from 2023, industry data showed Tuesday. According to the data from the International Contractors Association of Korea, domestic builders’ project orders from the Middle East amounted to $9.98 [...]

Troubled Builder Taeyoung E&C Files for Debt Workout

Troubled Builder Taeyoung E&C Files for Debt Workout

SEOUL, Dec. 28 (Korea Bizwire) — Ailing builder Taeyoung Engineering & Construction Co. applied for a debt-restructuring program Thursday to tide over a cash crunch, raising concerns over troubled peers in South Korea. Taeyoung E&C submitted the application to its main creditor, the state-run Korea Development Bank (KDB), after its board decided to request a [...]

Construction Giants Race to Minimize Inter-floor Noise as New Regulations Enter Effect

Construction Giants Race to Minimize Inter-floor Noise as New Regulations Enter Effect

SEOUL, Dec. 13 (Korea Bizwire) – Reducing inter-floor noise presents a significant challenge for construction companies, especially in light of the government’s recent announcement that apartments failing to meet new inter-floor noise standards will not receive construction approval. Despite the government’s initiative to address inter-floor noise concerns, it is imperative for construction firms to devise effective [...]

S. Korea’s Overseas Construction Orders Rise 20 pct in Jan.-Aug. Period

S. Korea’s Overseas Construction Orders Rise 20 pct in Jan.-Aug. Period

SEOUL, Sept. 10 (Korea Bizwire) — South Korean construction companies’ overseas orders increased 20 percent in the January-August period from a year earlier to exceed US$20 billion, industry data showed Sunday. Local builders obtained $21.9 billion worth of overseas orders between January and August, up from $18.3 billion worth of deals in the same period [...]

HD Hyundai’s Construction Unit Wins Deals in Saudi Arabia, Argentina

HD Hyundai’s Construction Unit Wins Deals in Saudi Arabia, Argentina

SEOUL, Sept. 3 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Sunday it has received orders to provide its products for Saudi Arabia’s Neom megacity project and Argentina’s lithium mine excavation plan. HD Hyundai Construction Equipment is the construction unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group. In the Argentina deal, the company [...]

Foreign Workers in S. Korean Construction Industry Account for 14.8 pct

Foreign Workers in S. Korean Construction Industry Account for 14.8 pct

SEOUL, July 16 (Korea Bizwire) — Nearly 15 percent of employees in the South Korean construction industry were foreigners in the first quarter of the year amid a shortage of local laborers at construction sites, a report showed Sunday. A total of 110,000 workers of foreign nationality were working at construction sites as of end-March, [...]

Turkey Earthquake Sparks Growing Concern for Quake-resistant Construction Among Korean Residents

Turkey Earthquake Sparks Growing Concern for Quake-resistant Construction Among Korean Residents

SEOUL, Feb. 21 (Korea Bizwire) — Following the earthquake in Turkey, South Koreans are increasingly concerned about the safety of their homes and buildings. The number of people seeking information on earthquake-resistant design at apartment management offices and online inquiry sites has spiked dramatically. On internet forums where prospective residents discuss new apartment complexes, it [...]

S. Korea’s Offshore Construction Orders Reach US$30.6 bln in 2021

S. Korea’s Offshore Construction Orders Reach US$30.6 bln in 2021

SEOUL, Dec. 30 (Korea Bizwire) — South Korean construction companies have won US$30.6 billion worth of orders from overseas this year, surpassing the $30 billion mark for the second straight year despite the prolonged coronavirus pandemic, data showed Thursday. A total of 318 builders have won 501 such deals from 91 countries in 2021, with [...]

POSCO E&C to Deploy Walking Robot for Tunnel Construction Safety Management

POSCO E&C to Deploy Walking Robot for Tunnel Construction Safety Management

SEOUL, May 14 (Korea Bizwire) — POSCO Engineering & Construction Co., an affiliate of POSCO, South Korea’s top steelmaker, plans to deploy a walking robot for safety management during tunnel construction. The company said Thursday that it had decided to use a walking robot mounted with LiDAR and a high-performance camera to examine construction errors [...]