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  • SK Hyper Appoints C-Level Executives to Drive AIDC Business Development
    SK Hyper Appoints C-Level Executives to Drive AIDC Business Development SK Telecom's dedicated subsidiary for artificial intelligence data center (AIDC) development, SK Hyper, has finalized its C-level executive appointments and established a business promotion framework.According to industry sources on August 12, SK Hyper has appointed Jo Jeong-min as Chief Strategy Officer (CSO), Lee Dong-ki as Chief Technology Officer (CTO), and Yoo Jae-ho as Chief Financial Officer (CFO). Jo previously led the AIDC planning division and the Connect Infrastructure business at SK Broadband, while Lee transitioned from SK Telecom, where he was responsible for AIDC and cloud technology. Yoo has overseen portfolio strategy at SK Telecom, focusing on new business development, growth investments, and mergers and acquisitions.Last month, SK Telecom established SK Hyper to focus on AIDC business development and investment, planning to invest a total of 750 billion won by 2030. Jeong Seok-geun, who has been appointed as CEO of SK Hyper, will also serve as the head of the AIDC integration promotion team, connecting the AIDC execution organizations across SK Telecom, SK Broadband, and SK Hyper to oversee business initiatives.An SK Telecom representative stated, "We have established an execution system that allows SK Telecom, SK Broadband, and SK Hyper to move forward with a unified goal. We will promote the AIDC business as one team."* This article has been translated by AI. 2026-08-12 16:12:00
  • Government Urges Increased Lending to Self-Employed Amid Rising Default Rates
    Government Urges Increased Lending to Self-Employed Amid Rising Default Rates The government is intensifying its call for financial institutions to increase funding for self-employed individuals, even as it tightens household loan management. However, with the default rate on personal business loans reaching its highest level in 13 years, financial institutions are cautious about expanding lending. This has led to a dilemma between supporting self-employed individuals and maintaining financial soundness.According to the financial sector on August 12, financial authorities plan to introduce a new credit evaluation model for personal business intermediate loans in October. The loan limit will increase from 20 million won to 30 million won, and the annual supply scale will expand from 100 billion won to a maximum of 150 billion won. Regional credit guarantee foundations will also utilize the new evaluation model for guarantee reviews starting in 2027.The channels for supplying intermediate loans will also broaden. In addition to banks and savings banks, credit card and capital companies will also be included as lending institutions. Intermediate loans are policy-based mid-interest loans provided through guarantees from Seoul Guarantee Insurance for those with low to moderate credit who find it difficult to access regular credit loans.However, the financial health of self-employed loans is deteriorating rapidly. As of the end of May, the default rate on personal business loans from domestic banks was 0.84%, the highest level since May 2013. This increase is attributed to a sluggish economic recovery and rising costs, leading to more self-employed individuals struggling to meet loan repayments.Banking institutions are also taking a cautious approach to expanding personal business loans. The outstanding balance of related loans at the five major banks increased from 324.43 trillion won at the end of last year to 325.92 trillion won by the end of May, but it has since declined to 323.19 trillion won as of August 11. This marks a decrease of approximately 2.7 trillion won compared to the end of May. Given the significant rise in default rates, banks are feeling the pressure to increase their lending in this area.The financial sector is grappling with the timing of when to increase support for self-employed individuals while also managing credit conservatively. Although demand for funding among self-employed individuals is rising due to economic downturns, the nature of personal business loans means that decreased sales can quickly lead to reduced repayment capacity, increasing the risk of defaults. Additionally, many borrowers have multiple loans from various financial institutions, adding to the concern.The situation is even more challenging for secondary financial institutions like savings banks, which tend to serve self-employed individuals with lower credit ratings. They are more sensitive to rising default rates and bad debt costs. In fact, the outstanding balance of personal business loans in the savings bank sector has decreased from 24.4 trillion won at the end of 2022 to 12.6 trillion won by the first quarter of this year, nearly halving in less than three years due to ongoing efforts to reduce personal business loans amid a focus on financial soundness.While there is agreement within the financial sector on the need to enhance access to finance for self-employed individuals, there are voices suggesting that simply increasing loan supply is not a sustainable solution. A financial sector official stated, "We recognize the necessity of financial support for self-employed individuals, but in a situation with high default rates, it is not easy for financial institutions to continue increasing loans. To expand supply through policy, mechanisms must also be established to alleviate the financial burden on these institutions."* This article has been translated by AI. 2026-08-12 16:08:00
  • IMA Firms on Alert as Financial Authorities Consider Reintroducing Old NCR
    IMA Firms on Alert as Financial Authorities Consider Reintroducing Old NCR As financial authorities push to reintroduce the old Net Capital Ratio (NCR) with heightened risk sensitivity for comprehensive financial investment firms, IMA business securities companies are bracing for potential challenges in capital adequacy management. Under the current metrics, the financial health rankings of IMA firms, which have reached the top tier in the industry, would plummet if the old NCR were applied.According to the Financial Supervisory Service's electronic disclosure system on August 12, among major securities firms, Korea Investment & Securities reported the highest NCR at 3756.22% for the first quarter of this year, followed by Mirae Asset Securities at 3524.2% and NH Investment & Securities at 2449.4%. All three companies are licensed IMA operators.In contrast, KB Securities reported an NCR of 2184.06%, Shinhan Investment Corp. at 1986.51%, and Kiwoom Securities at 1848.23%, all lower than the top three IMA firms. This reflects the current formula's tendency for larger firms to report relatively higher NCRs.The NCR serves as a capital adequacy indicator for securities firms, showing the ratio of net assets to risk assets. The denominator is effectively a fixed value based on required capital for licensed operations, while the numerator is the net capital minus risk amounts. In contrast, the old NCR was calculated by dividing net capital by total risk amounts.Applying the old NCR calculation would alter the rankings significantly. Under the old NCR, Shinhan Investment Corp. would lead with 202.06%, followed by KB Securities at 192.78% and Kiwoom Securities at 192.37%. Meanwhile, Korea Investment & Securities would drop to 167.18%, Mirae Asset Securities to 165.34%, and NH Investment & Securities to 159.31%, all falling below the previous management improvement recommendation threshold of 150%.Notably, Mirae Asset Securities' capital adequacy assessment changed when comparing the current and old NCR. While its current NCR rose from 3433.5% at the end of last year to 3524.2% in the first quarter, the old NCR fell from 170.12% to 165.34% during the same period, indicating that the growth rate of total risk amounts outpaced that of net capital.The push for reintroducing the old NCR stems from concerns that the current metrics do not adequately capture the actual increase in risk as large securities firms expand their funding and operational scales. The aim is to manage capital adequacy more stringently in relation to risk. The old NCR can reflect the size of assets that can be immediately liquidated in a crisis.Industry insiders agree that the introduction of the old NCR will inevitably increase the burden of capital management. A financial investment industry official stated, "If the old NCR is simply applied, even sound securities firms will face additional capital raising burdens," adding that there could be inefficiencies in needing to secure additional capital through subordinated bonds and new capital securities to comply with regulations. The ongoing increase in provisions related to corporate loans has also significantly raised total risk amounts compared to the past.As a result, there are calls within the industry for caution in restoring the old NCR to its previous standards. Another industry official remarked, "The risk values calculated in the metrics should be refined based on loan types, borrower creditworthiness, collateral stability, and credit enhancements."* This article has been translated by AI. 2026-08-12 16:04:20
  • Hanwha Life Reports 96% Surge in First-Half Net Profit to 904.5 Billion Won
    Hanwha Life Reports 96% Surge in First-Half Net Profit to 904.5 Billion Won Hanwha Life reported a significant increase in net profit for the first half of the year, driven by improvements in both insurance and investment gains. The company's focus on profitability-oriented product sales has also led to a record high in new contract service margin (CSM) since the implementation of International Financial Reporting Standards (IFRS 17).On August 12, Hanwha Life announced that its consolidated net profit for the first half of the year reached 904.5 billion won, a 96% increase compared to the same period last year. On a standalone basis, the company recorded a profit of 510.2 billion won, up 183.9% due to substantial improvements in both insurance and investment gains.The performance of domestic subsidiaries, including Hanwha General Insurance and Hanwha Investment & Securities, as well as overseas operations, contributed to the increase in consolidated profits. The combined net profit of subsidiaries for the first half was approximately 500.9 billion won, with the share of profits from overseas subsidiaries expanding to 11%. Hanwha Life plans to enhance the profitability of its subsidiaries and expand synergies to stabilize its profit base in the future.New contract profitability also improved, with Hanwha Life's new contract CSM reaching 1.3 trillion won, a 40.5% increase from the previous year. This is the largest figure for the first half since the introduction of IFRS 17. The sales of medium- and long-term whole life insurance have expanded, resulting in an overall new contract profitability of 11 times, an improvement from 7.2 times last year.Looking ahead, Hanwha Life aims to continue expanding sales of medium- and long-term whole life insurance while strengthening its health insurance market strategy, focusing on newly launched dementia and long-term care products.The profitability of existing contracts also improved, with the CSM for existing contracts at the end of the first half reaching 8.9285 trillion won, an increase of 214.8 billion won from the end of last year. Despite the application of loss ratio and expense assumption guidelines, the inflow of new contract CSM and the reduction of experience adjustments had a positive impact.The contract retention rate, a measure of sales efficiency, stood at 90.0%. The number of agents affiliated with Hanwha Life's subsidiary GA increased, reaching 38,092, primarily driven by Hanwha Life Financial Services.The solvency ratio (K-ICS) is expected to rise to 167%, a 9.5 percentage point increase from the end of last year, thanks to profit expansion and increased available capital due to rising interest rates.Asset duration is 11.36 years, while liability duration is 10.10 years, resulting in a duration gap of 0.93 years.Yoon Jong-guk, Hanwha Life's Chief Financial Officer, stated, "The improvement in insurance and investment profits, along with balanced growth from domestic and overseas subsidiaries, has strengthened our consolidated profit capacity. In the second half, we plan to enhance the competitiveness of our products centered on medium- and long-term whole life insurance and dementia and long-term care health insurance, while also advancing our AI-based sales support system to improve sales productivity and channel competitiveness."* This article has been translated by AI. 2026-08-12 16:04:10
  • Korean Deputy Prime Minister Proposes K-AI Package for Uzbekistans EDCF Projects
    Korean Deputy Prime Minister Proposes K-AI Package for Uzbekistan's EDCF Projects Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced plans to apply the 'K-AI package,' which integrates artificial intelligence (AI) solutions, to Uzbekistan's Economic Development Cooperation Fund (EDCF) projects.Koo made the announcement during a meeting on August 11 in Seoul with Uzbekistan's Deputy Prime Minister Jamshid Khodjaev, where they discussed expanding economic cooperation in areas such as critical mineral supply chains, AI, and renewable energy.Khodjaev visited South Korea to solidify cooperation projects ahead of the first Korea-Central Asia Summit scheduled for September. He was accompanied by the governor of Navoi Province and eight deputy ministers from various Uzbek ministries, including investment, industry, economy, digital affairs, transport, and minerals.This meeting marked the third encounter between Koo and Khodjaev, following the Korea-Uzbekistan Economic Vice Ministers' Meeting in December and a meeting with the Uzbek President in May.The two sides agreed to detail cooperation across the entire supply chain of critical minerals, from exploration to processing and utilization. They also discussed broadening collaboration to include AI data centers, renewable energy, biotechnology, and advanced infrastructure.Koo stated, “In the face of global environmental uncertainties and the reorganization of supply chains driven by AI innovation, Uzbekistan is an important strategic economic partner for South Korea. Let’s leverage our strengths and potential to establish key cooperation projects that benefit both countries.”He emphasized the need to create visible outcomes that both nations can feel, including the application of the K-AI package, which supports AI solutions and data centers alongside renewable energy facilities in infrastructure built through EDCF.Khodjaev expressed his intention to enhance communication between the South Korean government and businesses, ensuring smooth investment and operations for collaborative projects involving South Korean companies.The two deputy prime ministers agreed to utilize hotlines to expedite key projects ahead of the Korea-Central Asia Summit in September. They will also discuss improving investment conditions and providing incentives to expand local investments by South Korean companies.Bilateral trade between South Korea and Uzbekistan rose from $1.736 billion in 2024 to $1.809 billion last year. In the first half of this year, trade reached $971 million, a 22.4% increase compared to the same period last year.Prior to their meeting, a Korea-Uzbekistan business roundtable was held, attended by government officials and representatives from over 30 companies. The government plans to explore using policy financing, such as EDCF and export financing, for cooperation projects that are economically viable and beneficial to both countries.* This article has been translated by AI. 2026-08-12 16:04:00
  • Struggling Business Owners Turn to Loans Amid Financial Strain
    Struggling Business Owners Turn to Loans Amid Financial Strain A 70-year-old self-employed individual, identified as A, who imports seafood from Vietnam and Thailand, recently secured a loan of 50 million won from a bank. The rising exchange rates and sluggish domestic demand have led to a decrease in sales, making it difficult to secure funds for raw material imports and employee wages.A expressed, "As the exchange rate rises, the amount I have to pay for the same quantity has significantly increased, and with the economy not improving, it's hard to increase delivery volumes. While the loan has alleviated my immediate financial pressure, I am deeply concerned about whether I can continue my business in the future."As the economic downturn persists, loans for self-employed individuals are increasingly seen as a means of survival. There are growing concerns that the rising burden of defaults among vulnerable borrowers could impact the financial sector's stability.According to the financial sector on August 12, the total loans for self-employed individuals, including household loans, reached 1,095.5 trillion won by the end of the first quarter of this year, marking a 0.7% increase from the same period last year. This amount represents 28.5% of all loans in the financial sector.Notably, the number of vulnerable self-employed individuals has surged from 274,000 at the end of 2021 to 409,000 in the first quarter of this year, an increase of 135,000. During the same period, their loan balance rose from 74.7 trillion won to 117 trillion won, a 56.6% increase.The repayment capacity of these vulnerable self-employed individuals is rapidly deteriorating. Their delinquency rate jumped from 4.93% at the end of the second quarter of 2022 to 12.68% at the end of the first quarter of this year. This indicates that a significant number of the 100 vulnerable self-employed borrowers are struggling to repay their principal and interest. This trend poses a risk to the financial sector's stability. During the same period, the average delinquency rate for personal business loans at the four major banks (KB Kookmin, Shinhan, Hana, and Woori) soared from 0.14% to 0.52%, a 3.7-fold increase. Regional banks in Gyeongnam, Jeonbuk, and Jeju reported delinquency rates nearing 1%.As more self-employed individuals fail to meet their debt obligations, the number seeking debt restructuring is also rising. By the end of the first half of this year, 206,152 self-employed individuals had applied for the New Start Fund, a debt restructuring program aimed at small business owners, with the total debt amounting to 32.5 trillion won. Among them, 141,821 borrowers have entered into agreements, with the principal amount reaching 12.9 trillion won.As the quality of self-employed loans deteriorates, financial institutions are tightening their lending criteria. This trend is particularly evident in the second-tier financial sector, which primarily serves low-credit self-employed individuals. The balance of personal business loans at savings banks has decreased from 24.2 trillion won at the end of 2022 to 12.7 trillion won in the first quarter of this year, nearly halving over three years.The challenge is that as the repayment capacity of self-employed individuals declines, financial institutions may reduce lending to maintain stability, further constricting access to funds for vulnerable self-employed individuals. As these business owners increasingly rely on loans amid economic difficulties, their creditworthiness diminishes, leading to a vicious cycle where financial institutions adopt a more conservative approach to lending.A financial sector official stated, "In recent years, the real economy has struggled to recover, causing the creditworthiness of self-employed individuals to naturally decline, forcing financial institutions to adopt a more cautious lending approach. If financial conditions worsen further due to rising interest rates, the delinquency rate for self-employed loans could rise sharply, increasing the stability burden on financial institutions." 2026-08-12 16:04:00
  • KOSPI leads Asian rally on institutional buying
    KOSPI leads Asian rally on institutional buying SEOUL, August 12 (AJP) - South Korea's benchmark stock index surged Wednesday on institutional chase after a potential generous payouts by chip bellwethers. The KOSPI gained 233.51 points or 3.68 percent to 6,579.04 as Samsung Electronics climbed 16,000 won, or 6.7 cent, to 255,500 won and SK hynix 5.5 percent,to 1.504 million won. The advance far outpaced gains across the region, where Japan's Nikkei 225 added 0.8 percent to 67,524.06 and Shanghai's composite index 0.4 percent to 3,948.84. Foreign investors were net buyers of 2.84 trillion won on the main board, while institutions purchased 527.8 billion won and individuals sold a net 3.19 trillion won. The buying reflected renewed enthusiasm for artificial-intelligence and semiconductor shares, which have remained a major driver of Korea's market as investors continue to bet on demand for AI infrastructure. Samsung Electronics and SK hynix were joined by a wide range of large-cap technology stocks, preventing the rally from being concentrated entirely in the two biggest chipmakers. SK square jumped 8.4 percent to 1.024 million won, Samsung Electro-Mechanics rose 5.8 percent to 1.335 million won and Hanwha Aerospace gained 5.3 percent to 1.156 million won. LG Electronics surged 12.8 percent and LG Innotek advanced 11.1 percent as electronics stocks emerged as one of the strongest groups on the main board. The electronics sector rose 12.4 percent overall, while semiconductor-related shares including UBIQUIS and Soulbrain gained 16.6 percent and 13.0 percent, respectively. The KOSPI 200 climbed 42.03 points, or 4.3 percent, to 1,029.43, showing that the advance extended across much of the large-cap market. The KOSDAQ was considerably weaker, edging up 1.07 points, or 0.1 percent, to 858.91. Samsung Biologics was among the notable decliners, falling 3.7 percent to 1.549 million won, while HD Hyundai Heavy Industries dropped 1.4 percent to 496,000 won. The strength in Korea contrasted with more modest gains elsewhere in Asia. In Tokyo, Recruit Holdings rose 3.1 percent to 16,660 yen, Advantest gained 0.9 percent to 34,550 yen and Mitsui Kinzoku advanced 4.1 percent to 29,000 yen. The Shanghai composite wrapped up around 3,948.84, up 14.75 points, or 0.4 percent, with Xinjiang Bai Hua Cun Pharma Tech surging 10.0 percent to 14.03 yuan. WuXi AppTec fell 0.9 percent to 158.82 yuan and ICBC declined 1.1 percent to 7.52 yuan. The won weakened to 1,416.60 per dollar, down 3.10 won from the previous session. The day's trading left Korea as the clear regional leader, with foreign buying and a broad-based surge in technology shares pushing the KOSPI sharply higher as investors returned to the AI and semiconductor trade. 2026-08-12 16:02:04
  • Investor Deposits Fall Below 100 Trillion Won as Margin Trading Rises
    Investor Deposits Fall Below 100 Trillion Won as Margin Trading Rises Domestic stock market adjustments have led to investor deposits falling below 100 trillion won. While available funds for the stock market are rapidly decreasing, the balance of margin trading, known as 'debt investment,' remains steady in the 30 trillion won range. According to the Korea Financial Investment Association, as of August 11, investor deposits were recorded at 97.9289 trillion won, a decrease of 2.7891 trillion won from the previous trading day. This marks the first time investor deposits have fallen below 100 trillion won since February 13, when they were at 99.2735 trillion won. Compared to the all-time high of 139.6947 trillion won on June 4, this represents a decrease of 41.7658 trillion won, or 29.9%. Investor deposits refer to funds held in securities accounts that have not yet been used for stock purchases, typically viewed as available cash for the stock market. A decline in these deposits can indicate a weakening buying power among individual investors, which may add pressure to the market amid foreign selling. In contrast, margin trading has rebounded to the 30 trillion won level. As of August 11, the balance of margin trading was recorded at 30.3872 trillion won. The balance in the securities market was 23.7704 trillion won, while the KOSDAQ market accounted for 6.2683 trillion won. After dropping to the 27 trillion won range on August 3-4, the margin trading balance has shown an upward trend. However, it remains 8.2456 trillion won, or 21.3%, lower than the record high of 38.6328 trillion won on June 24. * This article has been translated by AI. 2026-08-12 16:00:00
  • Prime Minister Han Seung-soo: Youth Concerns Must Be Central to 2045 Strategy
    Prime Minister Han Seung-soo: Youth Concerns Must Be Central to 2045 Strategy Prime Minister Han Seung-soo stated on August 12, "Without addressing youth issues, there is no future for South Korea."During the second meeting of the 'Republic of Korea 2045 Strategy Establishment Committee' held at the Government Seoul Office, Han emphasized that the 2045 national development strategy will serve as a roadmap and blueprint for the country's direction over the next 20 years.This was the first time Han presided over a committee meeting since its launch in May. He noted, "While 2045 may seem far off, it is crucial to prepare now as we approach the 100th anniversary of liberation."Han diagnosed that South Korea is facing structural crises that threaten its growth potential, including demographic changes, polarization, and regional extinction.He stressed the importance of how to address these issues through significant transformations and technology, urging thorough preparation for the changing industrial paradigm.Han identified youth policy as a core task of the 2045 strategy. He stated, "It is vital to incorporate the urgent concerns and sincere proposals of the youth who will lead South Korea in ten years into the strategy, ensuring that future generations become a strong foundation and the main players of South Korea in 2045."Additionally, he remarked, "By 2045, which marks the significant 100th anniversary of liberation, South Korea must become an 'indispensable South Korea,' and we need to select and pursue bold and challenging tasks to achieve this."Han also emphasized that the 2045 strategy should not be established unilaterally by the government. He urged that it is not just a government initiative but a collective effort involving future generations and all citizens in preparing for the future, calling for various procedures to allow public participation and to faithfully reflect their opinions in the strategy formulation process.Meanwhile, the meeting discussed the discourse surrounding the 2045 national development strategy, reviewed survey results conducted among the general public, youth, and experts, and explored ways to specify future strategic directions.Attendees included Defense Minister An Gyu-baek, Minister of the Interior and Safety Yoon Ho-joong, Minister of Planning and Budget Park Hong-geun, and Lee Han-joo, chairman of the Economic and Social Research Council.* This article has been translated by AI. 2026-08-12 15:56:00
  • Massive Bids in Seouls Reconstruction Projects, But Competition Fades
    Massive Bids in Seoul's Reconstruction Projects, But Competition Fades This second half of the year, the Seoul maintenance project market is seeing the emergence of massive projects worth 2 to 3 trillion won, yet competition among construction companies for contracts is becoming increasingly rare. Multiple firms may attend project briefings, but often only one bids, leading to a pattern of single bids after failed attempts and re-bidding.According to the maintenance industry on August 12, among 25 bids for Seoul maintenance projects involving the top 10 construction companies from January to July this year, only three had actual competition among multiple firms. This trend is attributed to rising construction and financing costs, as well as large firms focusing their efforts on projects with higher profitability and bidding potential.On August 10, the first bid for the reconstruction of Mokdong Apartment Complex 10 in Yangcheon District was rejected after only Hyundai Engineering & Construction submitted a bid. The project aims to rebuild the existing 2,160 units into 4,248 units, with an estimated construction cost of 2.6135 trillion won. Although six construction companies attended the briefing, only Hyundai submitted a bid. Korea Land Trust plans to participate in a second bidding round, and if competition does not materialize, a negotiated contract may be pursued.The scale of projects emerging in the second half of the year is unprecedented. Mokdong Complex 13 has an estimated construction cost of 2.3763 trillion won, while the Seongsu Strategic Maintenance Zone 2 has 2.0137 trillion won, and Seongsu District 3 is estimated at 1.8275 trillion won. The combined total for the five major projects, including Mokdong Complexes 10, 12, and 13, and Seongsu Districts 2 and 3, reaches approximately 10.62 trillion won.Additionally, Mokdong Complex 14, the largest reconstruction project in the area, is expected to exceed 3 trillion won in construction costs as it aims to increase the number of units from 3,100 to 5,123. The bidding process is underway, targeting a contractor selection announcement in September. If the project proceeds as anticipated, it could become the largest maintenance project of the second half of the year, with Hyundai Engineering & Construction, DL E&C, and Daewoo Engineering & Construction among the potential bidders.The Yeouido Shimbun Apartments will also close bids for contractors on the 25th. The project involves the reconstruction of 2,491 units, with an estimated construction cost of about 1.5 trillion won, and a briefing in May attracted seven construction firms, including Samsung C&T and GS Engineering & Construction.However, contrary to initial expectations that larger project sizes would intensify bidding competition, competitive tenders are actually diminishing. Construction firms are now focusing their resources on one or two projects based on their bidding potential and profitability rather than pursuing every large opportunity.Seongsu District 3 exemplifies this trend. While the first briefing attracted Samsung C&T, Kumho Construction, and Jeil Construction, only Samsung C&T attended the second briefing for re-bidding. With two rounds of competition failing to materialize, the likelihood of a negotiated contract with Samsung C&T has increased.In contrast, Seongsu District 2, which closes bids on the same day, still holds potential for competition. Last month’s briefing saw DL E&C and IPARK Hyundai Industrial Development in attendance, with industry insiders noting that DL E&C is taking a more proactive approach, though actual competition will depend on the bid deadline.On the same day, the Mokdong Complex 12 briefing included GS Engineering & Construction, Daewoo Engineering & Construction, POSCO E&C, and IPARK Hyundai Industrial Development. GS Engineering & Construction has been particularly active, revealing a specialized design in collaboration with a global design firm. The bid guarantee is set at 80 billion won.An industry insider stated, “To bid on a large project, companies must prepare cash guarantees in the hundreds of millions of won, along with significant costs and manpower for design, financing conditions, and member benefits. In Mokdong, the simultaneous contractor selections for 14 complexes are proceeding faster than expected, making it difficult for even large construction firms to respond to all projects.” 2026-08-12 15:56:00