Kolon Global Signs Business Agreement with Chinese Company... Neom City Bidding Battle Intensifies

[Asia Economy Reporter Kwak Minjae] Kolon Global announced on the 22nd that it has signed a "Business Agreement for Modular Construction and Future Construction Technology Development" with Broad Core Digital Technology, a Chinese modular technology company.

Kolon Global signed a business agreement with Broad Core Digital Technology of China on the 21st for the development of modular construction and future construction technologies.
[Photo by Kolon Global]

By the end of 2024, the two companies promised to utilize their construction technologies and establish mid- to long-term mutual cooperation across off-site construction (OSC) methods, including the NEOM City project in Saudi Arabia. The modular technology promoted by both companies combines existing modular construction methods with high density, high insulation, and solar power technologies, significantly enhancing eco-friendly elements such as decarbonization.

Kolon Global expects synergy to be maximized in the modular sector through the combination of the two companies' technologies. Kolon Global and its subsidiary Kolon E&C have demonstrated the potential of OSC construction technology through projects such as the Seoul National University Mungyeong Living Treatment Center construction and the National Medical Center's emergency critical care bed construction. Established in 1988, Broad is a technology-focused company possessing proprietary technologies in modular, energy, and civil engineering construction.

Kim Jeong-il, CEO of Kolon Global, stated, "We will actively strive not only for simple business integration but also to realize future construction technologies and enter related business fields such as NEOM City."

This content was produced with the assistance of AI translation services.