South Korea Infrastructure News

Recent industry report about South Korea Infrastructure company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ South Korea Infrastructure Market industry experts.

South Korea Infrastructure News

  • October 2022: Keppel Infrastructure, based in Singapore, completed the USD 0.60 billion acquisition of EMK Co., South Korea's leading waste management company. The sale price of approximately 20 times earnings before interest, taxes, depreciation, and amortization (EBITDA) was viewed as excessive by industry sources, despite the waste management company's growth potential, given the recent deterioration in market sentiment due to rising interest rates and other bearish factors.
  • September 2022: Hyundai Motor Group (HMG/the Group) will expand its strategic partnership with KT Corporation (KT), Korea's leading telecommunications company, to lead the future mobility market. Hyundai Motor Group announced today that it would push for comprehensive and extensive collaboration in next-generation communication infrastructure and ICT, including joint research with KT on 6G autonomous driving technology and an Advanced Air Mobility (AAM) communication network based on satellite communication.
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  • Aug 2023: Implenia and WindWorks Jelsa signed an investment and shareholder agreement to develop a state-of-the-art facility for the production and assembly of large concrete or steel structures for floating offshore wind turbines on Norway's west coast. Implenia and NorSea will become minority shareholders of WindWorks Jelsa in equal shares (approx. 41% each). Norway is one of Implenia's core markets for complex infrastructure projects. NorSea is a driving force in the field of renewable energy, an innovative supply chain partner, and a successful developer of industrial parks.
  • Aug 2023: The ARGE IBD, consisting of the partners Implenia (lead), Bernasconi, and De Luca, was awarded the contract for lot 2, “Tunnel Ligerz,” by the SBB. The total order volume is CHF 220 million, and Implenia's share is around CHF 150 million. The contract covers the 2.1 km long double-track tunnel - around 1,850 m of which is constructed using mining methods and around 250 m using open-cast mining, including concrete cladding and railway technology. In addition, four escape tunnels will be built, a 114 m long viaduct for the N5 motorway exit, and various additional structures. The excavated material will be transported by ship, and the existing railway line will be dismantled and redesigned.
  • March 2023: The Government of Oman plans to expand nine existing roads, including the dualisation of the 437 km Adam-Thamrait Road, which connects the Ad Dakhiliyah and Dhofar governorates.
  • February 2023: UAE and Oman signed an agreement to launch a joint railway company with an investment of about USD 3 Billion to link the two Gulf countries. 

  • July 2023: Grupo Ternova started construction of a USD 100 million logistics park in El Salvador. The park will be located in Nejapa municipality and will include four industrial warehouses between 17,700 m2 and 34,700 m2 in size. It will also include two-lane internal roads for transportation of containers and light-vehicle traffic.
  • April 2023: Korean contractor Dongbu Corporation built a new megaproject in El Salvador, which is the USD 410 million Los Chorros extension to the Pan-American highway. The project includes building the new 1 km long Francisco Morazán viaduct, which will be the longest, highest, and most complex in the country.
  • February 2023: Amdocs, a leading provider of software and services to communications and media companies, announced that Telefónica Móviles El Salvador, a company with 24 years in the Salvadoran telecommunications industry, selected Amdocs Charging as a first step in its business support transformation. The new solution will upgrade Telefónica Móviles El Salvador’s charging systems and its surrounding environment. It will also allow Telefónica Móviles El Salvador to take advantage of new monetization opportunities enabled by 5G and easily expand into additional countries over time using the same charging platform.
  • August 2023: Muji's 'anti-brand' outfit has just launched its fourth prefab home. This time, the Japanese lifestyle brand is targeting an aging population with its latest project, Yō no ie house. Muji's fourth prefab home is called 'Yō no ie House' and is aimed at older buyers looking to age in place.
  • June 2023: Muji has revealed the prototype of its newest prefabricated home project, affectionately known as the Window House. Set in the picturesque seaside town of Kamakura, 30 miles (48 km) southwest of Tokyo, its design borrows heavily from the 2008 edition of the Muji house designed by architect Kengo Kuma.
  • July 2023: JD established a 10,000-square-meter warehouse in Shenyang to meet the increasing demand for pharmaceutical products. This facility provides 3PL (3rd party logistics) services specifically for medicines and medical equipment. With distinct temperature zones catering to various drug requirements, including cold, room temperature, fridge, and freezer.
  • April 2022: GEODIS, a global logistics operator, strengthened its temperature-controlled pharma air freight shipments in Asia-Pacific (APAC) & Middle East (ME) by obtaining the Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV) Pharma certification.

July 2023: As a new production and transformation member, ASI welcomes India's pioneer aluminum extrusion company. The facility has two extrusion presses, one established in 1955 with a capacity of 1,250 tons and the other in 1961 with a capacity of 3,300 tons. With both presses together, Alupram Works now has a manufacturing capacity of 12,000 tons per year. With the ASI accreditation, Hindalco Alupram, a pioneer aluminum extrusion company, can now establish its continuous progress on responsible aluminum production, procurement, and stewardship, with the goal of building a sustainable future.

March 2023: The largest roof tile company in India, KPG Roofings, has launched its first showroom in Hyderabad, and it's 40th overall. The largest network of roof tile showrooms in India and the most popular brand of roof tiles there is KPG Roofings. KPG Roofings is currently resuming its pan-India growth plan, which was temporarily put on hold in early 2020 owing to supply and logistics challenges encountered in the worldwide market. KPG Roofings is now present throughout all of South India.

January 2023: China Harbor announced in a statement that it awarded two contracts to Saudi Arabia. The first contract was related to building the infrastructure of a new project in Riyadh, and the main scope of work included various pipeline facilities, earthworks, and ancillary housing construction facilities. This project was the second pipeline network project won by the company in the central region of Saudi Arabia in Riyadh, and it was also another important achievement of the company's active "secondary operation" for core owners.

December 2022: Bechtel was appointed as the project management consultant for TROJENA, a year-round mountain destination in the NEOM region of northwest Saudi Arabia. TROJENA is a key development that will contribute to the Kingdom's Vision 2030 goals of growing tourism and diversifying its economy away from hydrocarbons. In this role, Bechtel is expected to provide various services, including technical, commercial, and construction management, for the development of TROJENA and support NEOM's ambitions for sustainability.

  • October 2022: Nigeria's Lagos state government plans to start construction of a new airport in the Lekki-Epe region. The new airport facility will cover an area of 3,500 hectares, and construction work is expected to begin next year.
  • July 2022: Saudi Arabia is embarking on an ambitious plan to build the world's largest structure in the northwest of the kingdom. The structure known as Mirror Line consists of two reflective glass structures that reach 1,600 feet (488 meters) in height and run parallel for 120 kilometers (75 miles) across coastal, mountainous, and desert terrain.

  • June 2022: Ardmac, a leader in modular building, has purchased Cental. Modular assembly and full modular buildings will be considerably more prevalent in the future construction environment, which will have a more standardised, consolidated, and integrated construction process.This acquisition takes Ardmac one step closer to that goal. Ardmac's strengths as a top provider of offsite modular solutions to its clients in the data centre, pharmaceutical, healthcare, and advanced manufacturing sectors are enhanced by the combined experience and resources, and new options are now available to clients in the commercial fit out sector.
  • April 2022: HusCompagniet A/S has signed a contract to purchase a prefabricated factory from NVV GmbH and JAWS Holding ApS, along with an order book worth about DKK 200 million(USD 291 Million). Esbjerg, Denmark is home to the factory. The facility is one of the most automated in the Nordic region, and HusCompagniet's strategic goals will be further strengthened by its entry into this area of the Danish supply chain. With the newly acquired facility, HusCompagniet can assure production in their expanding semi-detached segment and avoid supply chain difficulties involving both subcontractors and specific materials.
  • April 2023: Retal Urban Development Company, based in Saudi Arabia, has signed a conditional development agreement with the kingdom's National Housing Company (NHC) to build residential villas under the master plan of the East Albuhirat project in the port city of Jeddah. The East Albuhirat project would have 327 residential units spread across a total area of 98,098.55 sq m, according to Retal's application to the Saudi exchange Tadawul.
  • December 2022: Ajdan, a leading mixed-use lifestyle developer best known for the Ajdan Waterfront in the kingdom's Eastern Province, and Roshn, a PIF-backed giga-project developer, have formed a partnership. The agreement calls for the construction of over 270 villas in Roshn's mixed-use community 'Sedra' in northeast Riyadh. Sedra, one of Riyadh's most anticipated developments, will include over 2,100 residential units as well as a slew of entertainment and commercial amenities such as public parks, entertainment areas, retail, community centres, schools, a sports hub, health clinics, a slew of restaurants and cafes.

South Korea Infrastructure Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)