Hyundai Steel to overcome real estate market slump with new construction tech

Hyundai Steel's R&D team leader Lee Bo-ryong, second from left, poses with representatives from the Korean Society of Steel Construction, Hyundai Engineering and KCC after signing a joint partnership to research and develop new fire-resistant construction methods for high-rise steel structures, at the company's office in Seoul, March 28. Courtesy of Hyundai Steel

Hyundai Steel’s R&D team leader Lee Bo-ryong, second from left, poses with representatives from the Korean Society of Steel Construction, Hyundai Engineering and KCC after signing a joint partnership to research and develop new fire-resistant construction methods for high-rise steel structures, at the company’s office in Seoul, March 28. Courtesy of Hyundai Steel

Hyundai Steel is challenging the country’s property market slump by investing in new construction technologies together with experts from other companies to build stronger, more reliable structures in more efficient ways, according to the country’s major steelmaker, Friday.

With the efforts, the Hyundai Motor Group subsidiary seeks to discover new needs for construction projects as the local construction industry is under pressure by high interest, soaring material prices and real estate project financing risks.

Hyundai Steel has recently signed a joint research deal with Hyundai Engineering, construction materials developer KCC and the Korean Society of Steel Construction to develop new fire-resistant construction methods for steel construction. Their aim is to develop a new way to build structures with 13 floors or more that are strong enough to withstand fire for three-plus hours so that construction duration and costs can be minimized.

Fire-resistant construction, a mandatory procedure when building high-rise buildings to secure enough time to allow people to escape during a fire, has been forcing companies to extend work hours and spend more money. By developing a new construction method dedicated to steel structures, Hyundai Steel expects to minimize materials, time and money.

Hyundai Steel has also successfully performed a full-scale test on a new steel product, jointly developed by another local engineering firm Seum, which could raise efficiency in building construction. Its new HC-Column, according to the company, has a unique shape that reduces welding time, makes steel structures more durable and can save material costs by 40 percent.

To promote the use of steel structures instead of reinforced concrete structure across the construction industry here, Hyundai Steel has also partnered with project management company HanmiGlobal.

“Steel-structured apartments, compared to reinforced-concrete buildings, allow broader open spaces, easier remodeling, stronger anti-quake durability and longer longevity of buildings,” a Hyundai official said.

Hyundai Steel said it will soon begin developing ways to maximize the advantages of steel construction in future apartment projects with HanmiGlobal, which has led over 2,900 construction projects around the world. (Advertorial)

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