Archive page 110

Busan, South Korea - After decades of anticipation and challenges, the city of Busan is finally inaugurating the Mandeok-Choeup (Asiad) Tunnel on July 1. The tunnel is expected to drastically alleviate traffic congestion, seamlessly connecting Deokcheon-dong in Buk-gu and Geoje-dong in Yeonje-gu. The opening ceremony, scheduled for June 30, marks the successful completion of a project that began in 1994 and faced considerable obstacles over the years. The Mandeok-Choeup (Asiad) Tunnel project b

As South Korea's second most populous city after Seoul, Busan's dynamism stretches beyond its well-known reputation as a bustling port and holiday destination. Comprised of 15 'Gu' (districts) and 1 'Gun' (county), Busan presents a diverse and multifaceted sociocultural tableau, housing over 3.36 million citizens according to the latest statistics. Based on data from 2022 The demographic profile of Busan is dispersed unevenly across its administrative regions. At the helm is the thriving distr

The Ministry of Education has officially announced the preliminary list of universities for its ‘Glocal University 30’ initiative. Out of the 30 local universities slated to receive a significant financial investment of 1 trillion won over the next five years, three universities from the Busan and South Gyeongsang regions have emerged victorious in the first round of selection: Pusan National University, Gyeongsang National University, and Inje University. Pusan National University, in an unpre

South Korea, as a powerhouse in the global semiconductor industry, has recently launched an ambitious project, the "semiconductor cluster," set to invigorate its leadership position. A total of 120 trillion won will be invested in this project over the next decade, aiming to establish specialized industrial parks for semiconductor production. SK Hynix, the world's second-largest DRAM market player, spearheads this ambitious project, in collaboration with more than 50 partner companies. The commi

South Korea's construction industry is experiencing stark polarization amidst a real estate market downturn and rising Project Financing (PF) interest rates. Large-scale construction companies like Hyundai Construction, Daewoo Construction, DL E&C, and POSCO E&C have responded to these economic conditions by expanding overseas orders and transitioning to digital platforms. In stark contrast, many medium and small-sized construction firms are teetering on the brink of bankruptcy. According to a

As South Korea grapples with a decreasing birthrate that began to accelerate around 2020, concerns over the impact of these demographic shifts on the asset and real estate market have grown significantly. While a pessimistic theory suggesting a slump in housing demand and a sharp drop in prices emerged post the global financial crisis of 2010, the actual experience of the past two decades in the domestic housing market paints a different picture. Even though the overall population began to shri

On the evening of June 22nd, local time, Busan City announced it had signed a Friendship and Cooperation Agreement with Koper City at the Town Hall in Koper, Slovenia. Koper is not only Slovenia's largest port city but also the leading maritime logistics gateway for Central and Eastern Europe. Situated on Slovenia's short Adriatic coastline, Koper's strategic geographical position, convenient rail facilities connected to its port, and non-freezing harbor even in mid-winter have made it the port

The race to host the World Expo 2030 has been narrowed down to a three-way contest between Busan (South Korea), Rome (Italy), and Riyadh (Saudi Arabia). The Bureau International des Expositions (BIE), the governing body responsible for overseeing World Expos, officially confirmed the trio on the 20th. War-torn Odesa, Ukraine, has regrettably been withdrawn from the race. At the 172nd BIE General Assembly, the final three candidates were selected via member nation voting. The selection was based