GS Engineering & Construction Corp. has signed a US$2.6 billion (2.81 trillion won) contract to build a gas plant in Venezuela.The deal is the Pirital-I project from Petroleos de Venezuela S.A. (PDVSA) Gas, which is a subsidiary of Venezuelan state-run oil firm PDVSA. It is a large-scale gas plant c
The Intercept, an independent media organization in the U.S., announced on August 4 that the National Security Agency (NSA) of the US included South Korea in the biggest threats secretly working against the U.S.The Intercept released a new confidential document from the NSA provided by Edward Snowde
Hyundai Engineering & Construction (Hyundai E&C) won a plant construction project worth approximately 5 trillion won (US$4.8 billion) in Venezuela. The total value of orders received by Korean builders during the first half of this year reached a record high of US$37.5 billion with the project, incr
Hyundai Engineering & Construction’s oil refining plant reconstruction project in Venezuela, which was won from Petróleos de Venezuela two years ago, has been halted due to the non-payment of construction costs. With the completion of the US$2.995 billion plant expected to be delayed by a year or so
Hyundai Engineering & Construction (Hyundai E&C) announced on December 6 that it signed a US$2.3 billion (2.43 trillion won) deal to build an oil refinery in Venezuela commissioned by the state-run Petroleos de Venezuela, S.A. (PDVSA) on December 4. Huundai E&C won the project jointly with Wison Eng
While recent instability in emerging economies heightens, Korea recorded the lowest country risk among 30 key emerging countries.On September 12, Hana Institute of Finance released a report titled “Analysis of Instability in Emerging Markets and Country Risk” in which it indexed economic, financial,
Daewoo E&C will take charge of the front end engineering design (FEED) of an oil facility in Venezuela, the country with the largest oil reserves. FEED is considered a part of the basic design, and so far has been dominantly led by Japan and Europe. On September 9, Daewoo E&C announced that it signe
In 2009, the global financial market environment showed speedy improvement following efforts to overcome the global financial crisis and the recovery of the global economy. However, misgivings still remain regarding global financial markets as seen by Dubai World's debt moratorium and Greece's fisc