LH Supplies 15 Plots in Hung Yen Province Industrial Complex for Korea-Vietnam Economic Cooperation

Area per lot 10,000 to 15,600㎡
Supply price $116 to $117 per ㎡

Korea Land and Housing Corporation (LH) announced on the 24th that it will supply land in the Korea-Vietnam Economic Cooperation Industrial Complex (Hung Yen Clean Industrial Complex) until September 4. This is the second supply following last September.

The Hung Yen Clean Industrial Complex is Vietnam's first Korean-style industrial complex, being developed in Hung Yen Province, located 30 km from Hanoi, with a scale of 1,431,000㎡ (430,000 pyeong).

VTK, a joint venture established through joint investment by LH, KIND, KBI Construction, Shinhan Bank, and the Vietnamese real estate development company TDH ECOLAND, is the overall project implementer, and Gyeryong Construction is in charge of the complex construction. The industrial complex began construction last September and is scheduled for completion in September next year.

The current supply target is 15 lots of general manufacturing facility sites within the Hung Yen Clean Industrial Complex, totaling 185,962㎡.

The area per lot ranges from 10,000 to 15,600㎡, and the supply price is 116 to 117 USD per square meter. The land use period according to Vietnamese land law is until July 6, 2071.

Applicants must be domestic corporations located in Korea, and foreign companies can also apply if domestic companies or Korean nationals hold shares. However, businesses subject to permit restrictions under Vietnamese laws, such as those emitting harmful substances, may be restricted from moving in.

Applications and submissions are possible through the Korea-Vietnam Economic Cooperation Industrial Complex website until Monday, September 4. Companies wishing to move in can designate up to three priority lots for application, and if competition occurs, the selection of occupants will be based on the order of application per lot, application area, and lottery order.

Companies selected as occupants must sign a reservation agreement with LH after September 7 and conclude a contract with VTK within two months thereafter.

Hung Yen Province, with an area about 1.5 times that of Seoul and a population of 1.2 million, is located at the center of the northern Vietnam economic belt connecting Hanoi, Hai Phong, and Bac Ninh.

It is adjacent to the Hanoi-Hai Phong expressway, providing good accessibility to existing Korean companies such as Samsung, LG, and Hyundai Motor Company. With the recent commencement of the 4th ring road, accessibility is expected to improve further. It also boasts geographical advantages, being about one hour away from Noi Bai International Airport and Hai Phong Port.

An LH official said, “The Hung Yen Clean Industrial Complex will be a new opportunity and lifeline for our companies,” adding, “Starting with the Clean Industrial Complex, we will do our best to strengthen the win-win cooperative relationship between the two countries and create a business environment favorable to our companies.”

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