'Jonghyeongmujin' Jung Wonju, Daewoo E&C Chairman, Discusses Real Estate Development Collaboration in Singapore

Daewoo E&C announced on the 30th that Chairman Jeong Won-joo visited Singapore on the 27th and held meetings with the CEOs of Keppel Land and CapitaLand, Asia's largest real estate developers under Singapore's sovereign wealth fund, to discuss collaboration plans for global real estate development projects.

Daewoo E&C Chairman Jeong Won-ju visited Keppel Land on the 27th and discussed cooperative relations with the CEO and other key stakeholders.

Keppel Land and CapitaLand are state-owned enterprises under Temasek Holdings, one of the world's largest sovereign wealth funds, and are Asia's largest specialized real estate developers with assets worldwide. Temasek Holdings is a sovereign wealth fund wholly owned by the Singapore government, managing assets worth approximately 400 trillion KRW, making it a mega investment company.

On the 27th, Chairman Jeong met consecutively with Lim Lewis, CEO of Keppel Land, and on the 28th with Lee Chi-koon, CEO of CapitaLand, to discuss ways to expand and collaborate on real estate development projects with Daewoo E&C in Southeast Asia regions such as Singapore, Vietnam, and Indonesia, as well as in North America including Canada and the United States, and Africa including Nigeria.

All parties expressed being impressed by Daewoo E&C's successful overseas real estate development projects, including Vietnam's Starlake City, and showed strong interest in cooperation not only in residential real estate development but also in industrial real estate development projects. Additionally, the CEOs of both companies requested Daewoo E&C's cooperation on their ongoing projects in Korea and expressed a desire to establish long-term cooperation plans rather than short-term business partnerships.

During the visit, Chairman Jeong also met with Mohamed Aziz Khan, Chairman of Summit Group, one of Bangladesh's largest conglomerates and the leading private power generation and port operator headquartered in Singapore, to discuss cooperation between the two companies regarding oil refining facilities and real estate development projects in Bangladesh.

Mohamed Aziz Khan stated, “We have great interest in pursuing mutual benefits between the two companies based on Daewoo E&C's advanced business methods and technology.”

A Daewoo E&C official said, “Chairman Jeong Won-joo's trip was conducted with the purpose of visiting Singapore, where regional hubs and headquarters of global companies are located, to strengthen order acquisition and cooperation networks, and based on this, to expand Daewoo E&C's real estate development and new business areas,” adding, “We will continue efforts to become a leading global construction developer.”

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