10 Builders Penalized for 4-river Project Collusion by Water Resources Corp.
10 Builders Penalized for 4-river Project Collusion by Water Resources Corp.
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2013.10.21 23:22
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SEOUL, KOREA- On October 18, the Korea Water Resources Corp. said it has notified to ten construction companies under investigation for colluding in the four rivers restoration project that they would be restricted in winning government-commissioned projects for up to 15 months. 
 
The decision will affect the three contractors including Hyundai Engineering & Construction, Daelim Industrial, and GS Engineering & Construction for 15 months from the 25th. Other two builders, Samsung C&T and SK E&C, will get an eight-month suspension in the public sector while five companies, Kumho Industrial, Kyeryong Construction, Keangnam Enterprises, Hanjin Heavy Industries, and Samwhan Corp., won't be able to participate in biddings for government projects.
 
As the companies get penalized in droves only a few days after the Public Procurement Service issued administrative orders to 15 builders under investigation for collusion, it is likely that major infrastructure projects such as railroad and road building to be commissioned sooner or later may be delayed because of the measures.

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