Korean construction market Archives

BOK Warns Economic Stimulus Too Focused on Construction Industry

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 [...]

Gov’t to Relax Capital Requirement for “Model” Construction Contractors

SEOUL, July 4 (Korea Bizwire) – Beginning in November this year, construction contractors with no record of administrative sanctions will get privileges when they try to get approval for business expansion. The Ministry of Land, Infrastructure, and Transport said on July 3 that it would pre-announce an “enforcement ordinance and regulation on the construction industry basic law” [...]