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GS Engineering to be barred from bidding for public projects

Infra News - Published on Thu, 18 Apr 2019

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Yonhap reported that South Korea's antitrust regulator said that it has asked the government to ban GS Engineering & Construction Co, a major local builder, from participating in bidding for public projects for violating the country's subcontracting law. Under the law, the central government and provincial authorities are required to impose bidding restrictions on a violator for up to two years as soon as requested by the Fair Trade Commission.

GS Engineering & Construction is accused of delaying in issuing written contracts and payments to its subcontractors in 2017, according to the commission.

In 2018, GS Engineering & Construction posted all-time high sales of KWR 13.1 trillion (USD 11.5 billion).

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Posted By : Rabi Wangkhem on Thu, 18 Apr 2019
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