SEOUL, Sept. 3 (Korea Bizwire) — More than half of all construction workers in South Korea are foreigners. While Koreans comprise most of the workforce in major phases of construction, tasks that involve using physical labor are mostly completed by foreign workers. The Construction and Economy Research Institute of Korea (CERIK) reported that there were [...]
SEOUL/TOKYO, Apr. 10 (Korea Bizwire) — The construction permit for a new Japanese embassy building in central Seoul has been revoked, as Tokyo failed to break ground for four years after winning the permit, municipal officials said Wednesday.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 [...]
SEOUL, Jan. 23 (Korea Bizwire) — The construction of the new nuclear reactors under progress in the country is expected to be further delayed as South Korea moves forward with the implementation of a revised labor law that limits the maximum weekly working hours to 52, industry sources said Wednesday. According to a statement from [...]
SEOUL, Aug. 21 (Korea Bizwire) – POSCO Engineering & Construction Co. said Sunday it has won a 950 billion-won (US$832 million) deal to construct a coal-fired power plant in Bangladesh. Under the contract signed with Japanese trading firm Sumitomo Corp., the construction arm of steelmaker POSCO will build a 1,200 megawatt plant and related facilities [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]