Daewoo E&C and LH Collaborate on Overseas Urban Development Projects
[Asia Economy Reporter Yoo In-ho] Daewoo E&C announced on the 14th that it signed a memorandum of understanding (MOU) with Korea Land and Housing Corporation (LH) on the 11th to discover and promote overseas urban development cooperation projects.
Through this MOU, Daewoo E&C will collaborate with LH to promote cooperative projects in overseas urban development sectors such as new towns, smart cities, industrial complexes, residential districts, and mixed-use development projects.
First, the two companies plan to review new town development projects in Vietnam and proceed with full-scale project promotion by maximizing their capabilities and resources.
Daewoo E&C possesses the best domestic experience and competitiveness in the field of new town development projects in Vietnam, as confirmed through the Hanoi Starlake City new town development project.
LH has abundant know-how in domestic and overseas new town development cases and, as a public corporation, can act as a counterpart to Vietnamese government agencies, which are difficult for private companies to engage with.
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A Daewoo E&C official stated, “By combining the experience, know-how, and capabilities of both companies, we can achieve the best results in the field of new town development projects in Vietnam,” adding, “Through this MOU, we will demonstrate the competitiveness of Korean-style new towns in overseas markets through public-private cooperation.”
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