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Seoul Cancels Construction Permit for New Japanese Embassy Building

Seoul Cancels Construction Permit for New Japanese Embassy Building

SEOUL/TOKYO, Apr. 10 (Korea Bizwire) — The construction permit for a new Japanese embassy building in central Seoul has been revoked, as Tokyo failed to break ground for four years after winning the permit, municipal officials said Wednesday. Seoul’s Jongno Ward Office said it notified the Japanese Embassy on March 4 of the cancellation of [...]

S. Korea’s Economic Structure Remains Fragile: Think Tanks

S. Korea’s Economic Structure Remains Fragile: Think Tanks

SEOUL, June 5 (Korea Bizwire) – South Korea’s latest economic gains do not indicate that the country’s financial condition is on a firm track, as the increases can be attributed to investment in the construction sector and not improvements in private consumption, a research showed Sunday.  Hyundai Research Institute (HRI) said in a report that [...]

Local Builders Jittery about New Gov’t Eco-Friendly Energy Policy

Local Builders Jittery about New Gov’t Eco-Friendly Energy Policy

SEOUL, May 25 (Korea Bizwire) – Environment-friendly energy policies pledged by the Moon Jae-in administration are raising concerns among local builders, which fear power plant construction projects may take a hit, industry officials said Thursday.  The chief executive said during his campaign that he will stop all new construction of coal-fired power plants and review [...]

Ground Broken for World’s Longest Suspension Bridge in Turkey

Ground Broken for World’s Longest Suspension Bridge in Turkey

SEOUL, March 19 (Korea Bizwire) – A groundbreaking ceremony has been held in a Turkish seaport for the construction of the world’s longest suspension bridge by an international consortium led by South Korean builder SK E&C, industry sources said Sunday.  The ceremony took place on Saturday in Canakkale, Turkey, to coincide with the 60th anniversary [...]

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

SEOUL, March 17 (Korea Bizwire) – An international consortium led by major South Korean builder SK E&C has inked a deal to build the world’s longest suspension bridge in Turkey, government officials in Seoul said Friday.  The deal, said to be worth some US$3 billion, was signed in Ankara on Thursday, according to officials from [...]

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

SEOUL, March 14 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Tuesday that it has bagged a 300 billion-won (US$262 million) deal to upgrade an existing power plant in Indonesia.  Under the deal with the state-run Indonesian PLN, Doosan Heavy and a state-run Indonesian construction firm will [...]

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

SEOUL, Feb. 14 (Korea Bizwire) – North Korea has misappropriated part of an international relief package to help it deal with the devastation caused by deadly flooding last year for its major infrastructure projects, a U.S. broadcast said Tuesday. A source in the northern Ryanggang Province told Radio Free Asia (RFA) that materials and funds [...]

S. Korea to Build 900 Kilometers in New Roads in 2017

S. Korea to Build 900 Kilometers in New Roads in 2017

SEOUL, Feb. 9 (Korea Bizwire) – South Korea will extend national roads by over 900 kilometers this year, greatly improving the accessibility of the entire nation while also helping boost the local economy, the government said Thursday.  Also, more than 60 percent of 7.3 trillion won (US$6.37 billion) in government budget earmarked for the construction [...]