Korean builders' business sentiment sank below par in July from a month earlier due to a heat wave and a resurgence of the coronavirus, a poll showed Monday.
The Fair Trade Commission (FTC) on Tuesday approved Hyundai Genuine, the parent company of Hyundai Construction Equipment, acquiring 34.4 percent of Doosan Infracore, a construction machinery maker, for 850 billion won ($760 million).
Doosan Heavy Industries & Construction has invested $60 million into NuScale Power, the company announced on Tuesday, in a move that deepens its financial and business ties with the U.S. provider of small modular reactors.
Workers take a break while enjoying popsicles under a shade at an SK apartment construction site in Incheon on Tuesday. Officials overseeing the construction say that they have taken steps to help workers beat the heat.
SK Engineering & Construction changed its name to SK ecoplant as part of an effort to enhance its environmental image.
Small-sized construction equipment maker Doosan Bobcat said Tuesday that it will spend 77 billion won ($68.6 million) to expand one of its U.S. plants in a bid to meet growing demand.
The construction equipment market is growing fast as countries rev up plant and facility investment.
According to the Employment and Labor Ministry and the Land, Infrastructure and Transport Ministry, the government will be providing free technical guidance and safety facility support to small construction projects costing 100 million won or less.
Traffic lanes west of Gwanghwamun Square in downtown Seoul were completely closed off Saturday to begin construction of a major park. Traffic was diverted to lanes east of the square.
Doosan Heavy Industries & Construction won a deal to build the largest energy storage system (ESS) in Australia, the company said Tuesday.