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 [...]
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 [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korean construction companies racked up a record in domestic orders last year, aided by a boom in the local property market, offsetting a slump in overseas projects, industry data showed on Wednesday. According to the data compiled by the Construction Association of Korea, local builders received a record [...]
SEOUL, Jan. 9 (Korea Bizwire) – Doosan Bobcat Inc., a construction equipment unit of Doosan Group, is forecast to earn solid earnings this year on the back of the incoming U.S. government’s massive infrastructure spending, analysts said Monday. Doosan Bobcat made a strong market debut on the local stock market in mid-November by raising some [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business. The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]
SEOUL, Oct. 11 (Korea Bizwire) – South Korea has the world’s second-fastest construction time of nuclear reactors after Japan, a report from the U.N. nuclear watchdog showed Tuesday, but Seoul’s atomic energy provider said the short period doesn’t affect their safety. According to the report by the International Atomic Energy Agency, South Korea has built [...]
DAEGU, Sept. 7 (Korea Bizwire) – These children may be excited to be studying in an unusual set of classrooms made out of shipping containers, but they’re actually victims of a process to rebuild their school. Daegu’s Dongcheon Elementary School was deemed to be unsafe last year, with high susceptibility to natural and other man-made [...]
SEOUL, July 15 (Korea Bizwire) – The Bank of Korea (BOK) revealed on July 15 its ‘Adequacy Analysis of Recent Investment in Construction’ included in the Economic Outlook Report of July 2016, which showed serious concerns regarding the government’s economic stimulus plan focused on the construction industry. The BOK pointed out that Korea is following in the [...]
SEOUL, May 12 (Korea Bizwire) – Strong winds have the capability to take down any man-made structure. Maintaining a wind-resistant building structure has always been a conundrum for architects. However, Korean researchers have recently come up with a structure that can reduce the effect of wind by 20 percent, by using daffodil stems as an [...]
SEOUL, Korea, July 31 (Korea Bizwire) – For the past five years since the 2008 global financial crisis, as many as a half of the top-100 construction companies have been undergoing restructuring. But lately even top-20 contractors are in danger of financial difficulties. According to construction industry sources on July 30, a total of 45 [...]