Journalist

Cha Yu-min
  • SK Ecoplant, Gyeryong Construction punished over fatal bridge collapse
    SK Ecoplant, Gyeryong Construction punished over fatal bridge collapse SEOUL, October 22 (AJP) - The South Korean government has ordered two major construction firms, SK Ecoplant and Gyeryong Construction, to suspend operations for six months following a bridge collapse last year that killed a worker and injured several others in Siheung, Gyeonggi Province. The Ministry of Land, Infrastructure and Transport announced the decision on Wednesday, saying the suspension will take effect from Dec. 1 through May 31 next year. The ministry said it was intended to hold the companies accountable for safety failures during the project. The accident occurred on April 30 last year at a highway construction site when a girder collapsed during installation, killing one worker, injuring five others, and wounding a nearby civilian. Police later charged six people, including the site manager from SK Ecoplant, as well as two subcontractors, with professional negligence resulting in death and injury. The project had been a joint venture between SK Ecoplant and Gyeryong Construction, a mid-sized contractor based in Daejeon. Both companies have contested the government’s decision. SK Ecoplant said its construction quality met required standards and denied direct responsibility for the collapse. The firm said it plans to present evidence in court to demonstrate compliance with safety regulations. Gyeryong Construction also said it would seek an injunction and file a lawsuit to overturn the government's decision. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-22 13:39:49
  • Govt unveils stricter measures to rein in housing market
    Gov't unveils stricter measures to rein in housing market SEOUL, October 15 (AJP) - Stricter real estate and loan regulations have been expanded to cover all of Seoul and about a dozen areas in Gyeonggi Province. According to a set of government measures announced by the Ministry of Land, Infrastructure and Transport and related ministries, the so-called speculative zones, previously limited to several districts in Gangnam and Yongsan, now cover all 25 districts of Seoul as well as parts of Gyeonggi Province such as Anyang, Gwacheon, Gwangmyeong, Hanam, Seongnam, Suwon and Yongin, in a bid to curb soaring housing prices. Under the new measures, which take effect next week and will remain in place until the end of next year, the loan-to-value ratio for first-time and single-home buyers will be reduced from 70 percent to 40 percent. Taxes on property acquisitions and transactions will be raised for multiple-home owners, while single-home owners will be eligible for tax exemptions only after owning and residing in the property for at least two years. Additionally, home resales will be restricted for three years. The ministry also pledged to speed up construction projects and redevelopment plans to supply some 1.35 million homes in the metropolitan area. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-15 14:21:45
  • Samsung C&T secures key US certification in nuclear reactor design
    Samsung C&T secures key US certification in nuclear reactor design SEOUL, September 30 (AJP) - Samsung C&T said Tuesday its construction division had obtained a coveted nuclear design certification from the American Society of Mechanical Engineers, a step that could strengthen the South Korean company’s hand in the fast-growing market for small modular reactors. The certification, known as ASME-N, covers nuclear piping system design and is widely regarded as a benchmark for safety and quality in the nuclear industry. It verifies a company’s ability to design, manufacture and install nuclear equipment, and is required for entry into some markets, including the United States. Samsung C&T already holds two related accreditations — ASME-NA, for nuclear equipment installation, and ASME-NPT, for component manufacturing. Together with the newly awarded ASME-N, the company says it has rounded out its credentials in the nuclear engineering, procurement and construction sector. “The ASME-N certification will enhance our position in the SMR market,” said Koo Won-seok, head of the company’s nuclear business division. “We aim to increase technical reliability and competitiveness in the rapidly growing SMR field.” Samsung C&T has been involved in nuclear projects at home and abroad, including the Uljin and Shin-Wolsong reactors in South Korea and the Barakah nuclear power plant in the United Arab Emirates. More recently, it has partnered with global engineering firms such as NuScale, Fluor and Sargent & Lundy on Romania’s small modular reactor project. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-30 14:35:33
  • Kuwait revives delayed housing project with South Korean partner
    Kuwait revives delayed housing project with South Korean partner SEOUL, September 25 (AJP) - South Korea’s state-run Land and Housing Corporation said Friday that work has resumed on a long-delayed housing development in Kuwait, reviving one of the Middle East’s largest urban projects. The development of Abdullah New City, located about 30 kilometers west of Kuwait City, is designed to provide 43,000 homes across 6.44 million square meters of desert land. The project, which carries an estimated budget of 23.6 trillion won, or about $17 billion, is scheduled for completion by 2045. The Land and Housing Corporation, known as LH, secured the project management contract last year and is currently advancing a pilot complex of 550 housing units on a 490,000-square-meter site. The project had been stalled for years by pandemic disruptions and regulatory hurdles before restarting in late 2023. The revival of the Abdullah New City initiative has opened the door for South Korean companies to expand their footprint in Kuwait. On Sept. 22, Hanmi Global, a Seoul-based project management firm, secured three additional contracts worth 31 billion won from Kuwait’s Public Authority for Housing Welfare. LH is also exploring partnerships with Samsung Electronics to introduce smart home technologies and with Isu Chemical to develop climate-resilient vertical farms within the city. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-09-25 15:12:02