SEOUL, Mar. 29 (Korea Bizwire) — North Korea has been accelerating a project to construct regional factories, with mobilized troops completing excavation work so that modernized factories can be built, state media reported Friday. Ordered by its leader Kim Jong-un, North Korea kicked off a project last month to build modernized factories in 20 counties [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
SEOUL, March 31 (Korea Bizwire) — Hyundai Engineering & Construction Co., a major South Korean builder, is set to employ augmented reality (AR) technology for construction and quality management. The company announced on Tuesday that it had developed a building information modeling (BIM)-based AR quality management platform. When accessing BIM data through the platform, it’s [...]