Hanyang Establishes Special Purpose Corporation for 'Sejong Smart City' Development Project
[Asia Economy Reporter Hwang Seoyul] Hanyang announced on the 2nd that it has established a Special Purpose Company (SPC) for the Sejong Smart City National Pilot City Development Project together with Korea Land and Housing Corporation (LH), Sejong City, KB Securities, and LG CNS.
The Sejong Smart City National Pilot City Development Project is a project to invest 3.16 trillion KRW in the leading district (340,000㎡) within the 5-1 living zone of Yeondong-myeon, Sejong City, to develop residential facilities, offices, commercial facilities, and more. Hanyang is participating as a Construction Investment Company (CI) in the private investor consortium and is responsible for the overall design and construction management, including the development of residential and commercial facilities within the leading district.
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Hanyang has designated smart city and energy businesses as future strategic businesses and is focusing the capabilities of its group affiliates. Its group affiliate, Boseong Industry, officially entered the smart city business in 2020 by establishing a joint venture, ‘Korea DRD,’ with LG CNS for the smart city business. Together with its affiliates, Hanyang is leading domestic smart city construction projects including the Sejong project, Busan Eco Delta, and Haenam Solar City smart city development projects.
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