The prolonged coronavirus outbreak is driving down the stock asset valuation of the wealthy chaebol owners, with Samsung Chairman Lee Kun-hee suffering a drastic slump of more than 2.7 trillion won ($2.2 billion), according to latest data Monday. Local corporate tracker Korea CXO Institute surveyed changes in the stock asset valuation of the nation’s 10 largest conglomerates between Jan. 20 and Feb. 28, 40 days since the first confirmed case of COVID-19 infection here. The share price

GS E&C introduces big data-based smart home systemGS Engineering & Construction Corp., a major builder in South Korea, on Thursday introduced a big data-based smart home system that can control the living environments of people's residences with deep learning technologies. GS E&C said its Xi AI platform is the first big data-based smart home solution developed by a local builder. The system can analyze and collect various home data, ranging from fine dust controls to elevator movemen

South Korea’s leading builder GS Engineering & Construction Corp. has developed South Korea’s first built-in air purifying and ventilating system, named Sys Clein, to be installed in apartments and any other spaces from the second half of this year. The system integrates existing total heat exchange systems that ventilate the air while preserving the temperature with an air purifying function. Existing systems can only perform one of these tasks, but not the other.The Sys Clein system, developed

Most of the big Korean companies are facing disapproval from foreign pension funds over their financial statements ahead of their imminent shareholders meetings in March, as they have not been audited by an independent panel.On Korea Corporate Governance Service’s online website Voting Information Plaza, of the 89 companies that have posted their agenda for annual shareholders meetings, 56 received opposition from more than one foreign pension fund.  (Yonhap)The State Board of Administration of

SEJONG -- Major South Korean builders are making inroads into overseas emerging markets to foster new residential towns on the back of pacts signed between the Land Ministry and its counterparts in South America, the Middle East, Africa and Asia.Among the destinations are cities and residential districts in Paraguay, Bolivia, Algeria, Ethiopia, Iraq, Saudi Arabia, Kuwait, Nepal, India, Indonesia, Vietnam and China.The builders include Korea Land & Housing Corp. (dubbed LH), Hanwha Engineering &

Employed singles are invited to spend a “romantic Halloween” at Gran Seoul in Gwanghwamun, downtown Seoul on Saturday. Hosted by GS Engineering & Construction Corp., a total of 300 male and female singles aged between 25 and 35 are eligible to sign up for the matchmaking event at saemip.com. The ticket price of 29,000 won ($25) for women and 39,000 won for men includes food and free-flowing beverage during the event time which runs from 2 p.m. to 5 p.m.With the ticket, participants can freely ro

In South Korea, Kakao Corp. dominates the mobile scene. Since overtaking the country’s mobile messaging market with KakaoTalk, the company has leveraged the clout of its messenger app to provide a range of new mobile services ranging from games, web comics to payment, e-commerce and even taxi hailing.　Despite its domestic glory, 7-year-old Kakao has continuously faced concerns and doubts over its growth potential as its messenger is confined to Korea with little presence in countries abroad.　Tho

South Korea's overseas construction orders dipped to a 10-year low last year, due partly to low global oil prices that led to a sharp drop in orders placed by oil-producing countries in the Middle East, market data showed Monday.In 2016, overseas construction orders clinched by South Korean builders amounted to some $28.19 billion, the lowest since $16.47 billion posted in 2006, according to the data compiled by the International Contractors Association of Korea.From a year earlier, the 2016 tal

Major South Korean construction companies posted lackluster orders in the first half of this year as they fared poor in overseas markets amid low oil prices, industry data showed Tuesday.According to the data, eight out of the country's top 10 construction firms by building capacity posted first-half orders that hovered well below half their yearly targets. The remaining two have not disclosed their 2016 order goals.Of the eight builders, six registered orders that amount to some 30 percent of t

Six major Korean construction firms are likely to see their earnings improve in the second quarter of 2016 from a year ago amid a housing boom, a report showed Friday.The builders are expected to post 675.6 billion won ($587 million) in combined operating profits for the second quarter, up 16.5 percent from a year ago, according to the report by online financial information provider Fn Guide.The six builders are Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerat

[THE INVESTOR] Local construction firms are facing growing risks in oil producing countries. On June 16, Hyundai Engineering and Construction Co. disclosed that a US$6 billion project in Iraq had to be halted due to late payments. Although the company said that it is seeking other means of payment, the move sparked concerns that similar developments could occur in other oil producing countries. The concern is further fueled by the fact that a large chunk of Korean construction firms’ unclaimed f

[DISCLOSURE] GS Engineering & Construction Corp (006360) announced on June 16 that the Supreme Court has accepted a class-action suit against the construction company filed by Kim Tae-eung and 14 others.

Korea Electric Power Corp., South Korea's state-run power utility firm, is considering a solar energy business in Jordan, a source said Thursday, as part of its efforts to tap into a new growth engine.KEPCO officials met with their Jordanian counterparts in Amman earlier this month, the source said, without elaborating.Separately, KEPCO has formed a consortium with GS Engineering & Construction Co., a major South Korean construction firm, and Hanwha Q Cells Co., the world's leading solar cell ma

[DISCLOSURE] GS Engineering & Construction Corp (006360) will guarantee a 193.9 billion won ($165 million) loan of its affiliated company that will focus on New Stay, a long-term rental housing project sponsored by government, it announced on June 15. This amounts to 5.79 percent of its equity capital.

[DISCLOSURE] GS Engineering & Construction Corp (006360) will guarantee a 150 billion won ($127.9 million) loan for MPC Life, it announced on June 16. This amounts to 4.48 percent of its equity capital.